Wednesday, June 16, 2010

Trader's Highlight

DJI - NEW YORK, June 15 - U.S. stocks jumped on Tuesday as investors went on a buying binge. The S&P 500 turned positive for the year and rose above its 200-day moving average for the first time in a month, suggesting the recent downtrend may be nearing an end.

Investors were motivated by successful debt auctions in Spain, Belgium and Ireland, which lifted some of the gloom over Europe's debt crisis. The euro rallied against the dollar and pushed commodity prices higher.

The Dow Jones industrial average gained 213.88 points, or 2.10 percent, to 10,404.77. The Standard & Poor's 500 Index gained 25.60 points, or 2.35 percent, to
1,115.23. The Nasdaq Composite Index gained 61.92 points, or 2.76 percent, to 2,305.88.

NYMEX - NEW YORK, June 15 - U.S. crude oil futures ended at the highest level in more than five weeks on Tuesday, rising for the second day in a row, on heightened risk appetite as Wall Street and the euro rallied after debt auctions in Europe
raised confidence in global economic recovery.

On the New York Mercantile Exchange, July crude settled at $76.94 a barrel, gaining $1.82, or 2.42 percent. The settlement was the highest since the May 6 front-month close at $77.11. It traded from $74.62 to $77.16, the highest since the
intraday peak of $77.68 on May 11.

CBOT - SOYBEANS - July down 2 cents at $9.49-1/2 per bushel. Profit-taking after rally to one-month high weighs on market. Early support from a decline in U.S. soy condition ratings and wet weather in Canada that is expected to trim canola output and further support from gains in crude oil.

CBOT - SOYOIL - July up 0.42 cent per lb at 37.81 cents per lb. Support from gains in crude oil and unwinding of meal/oil spreads.

FCPO - KUALA LUMPUR, June 15 - Malaysian palm oil futures ended at more than 7-month lows on Tuesday as investors took profit after key export figures came in below expectations and renewed worries over Europe's debt crisis rattled equities.

Exports of Malaysian palm oil products for June 1 to 15 were down 2 percent compared to the same period last month, according to cargo surveyor Societe Generale de Surveillance.

But another surveyor, Intertek Testing Services, reported a 1.5 percent rise in palm oil products exported through ports it monitors during the period.

The benchmark August crude palm oil futures on Bursa Malaysia Derivatives Exchange fell 0.8 percent or 19 ringgit to 2,391 ringgit ($735.4) a tonne after dropping earlier to a low of 2,378 ringgit, a level unseen since Nov 20 last year.

REGIONAL EQUITIES
- BANGKOK, June 15 - Indonesian shares climbed to their highest in almost a month on Tuesday as optimism over the country's sound economic fundamentals bolstered sentiment while undervalued shares elsewhere in the region attracted buyers.

Despite generally positive sentiment, Moody's downgrade of Greece's credit rating pulled Southeast Asian share markets off their highs for the day and most finished their sessions just slightly higher.

Indonesia's main share index , Asia's second best performing market this year, ended the day up 0.12 percent, after rising earlier to its highest level since May 17.

In Singapore, the index ended just flat, with commodity firm Noble Group up 2.2 percent and telecom firm Singapore Telecom down 0.33 percent.