Tuesday, September 14, 2010

Trader's Highlight

DJI-NEW YORK, Sept 13 (Reuters) - U.S. stocks advanced to their highest levels in five weeks on Monday, taking the S&P 500 index near the top of its summer range on upbeat Chinese factory data and new global banking rules.

The rally sent the S&P 500 above its 200-day moving average for the first time since early August, which was seen as a bullish sign.

The Dow Jones industrial average <.DJI> gained 81.36 points, or 0.78 percent, to 10,544.13. The Standard & Poor's 500 Index <.SPX> climbed 12.35 points, or 1.11 percent, to 1,121.90. The Nasdaq Composite Index <.IXIC> jumped 43.23 points, or 1.93 percent, to 2,285.71.

NYMEX-NEW YORK, Sept 13 (Reuters) - U.S. crude oil futures ended higher for a second consecutive session on Monday as uncertainty over when an Enbridge oil pipeline would resume flowing and upbeat Chinese economic data combined to push prices to their highest levels in more than four weeks.

Industrial production in China ramped up and money growth exceeded expectations in August, showing buoyant economic growth despite government efforts to clamp down on bank lending and property speculation.

On the New York Mercantile Exchange, crude for October delivery settled up 74 cents, or 0.97 percent, at $77.19. It traded from $76.36 to $77.50, the highest since Aug. 11's intraday high of $80.44.

CBOT-CHICAGO, Sept 13 (Reuters) - Chicago Board of Trade grain and soy complex close on Monday.

CBOT-SOYBEANS - September up 1-3/4 cents at $10.25-1/4 per bushel, November up 3-1/2 at $10.34-1/2. Support from higher corn and wheat, short-covering after Friday's decline, weak dollar and firm crude oil. Rally limited by seasonal pressure ahead of the harvest of a likely record-large U.S. soybean crop.

CBOT-SOYOIL - October up 0.06 cent at 41.42 cents per lb. Following soybeans and strength in crude oil, but backed off from early highs.

FCPO-KUALA LUMPUR, Sept 13 (Reuters) - Malaysian crude palm oil futures hit one-month highs on Monday after a long weekend holiday, on encouraging economic data from China and firmer crude oil, although prospects of a bumper U.S. soy crop weighed on prices.

China's industrial output grew by a larger-than-expected 13.9 percent last month, signalling further imports for the world's second largest consumer of palm oil and lifting most commodities.

The benchmark November crude palm oil contract on Bursa Malaysia Derivatives Exchange rose 1.2 percent, or 32 ringgit, to 2,676 ringgit ($860.7) per tonne, after touching an intraday high of 2,689 ringgit -- a level not seen since August 16.

REGIONAL EQUITIES-BANGKOK, Sept 13 (Reuters) - Most Southeast Asian stock markets gained on Monday, with Singapore and Malaysia marking multi-year peaks and the Philippines hitting a record high as encouraging economic data out of China spurred broad buying.

Singapore's Straits Times Index <.FTSTI> ended up 1.47 percent at its highest in 27 months, Malaysia's main share index <.KLSE> climbed 1.3 percent to around a 2-1/2-year high and Thailand <.SETI> had its biggest gain in two weeks.