Tuesday, January 19, 2010

Trader's Highlight

DJI-NEW YORK, Jan 15 (Reuters) - Profits from top U.S. technology companies like IBM and financial companies like Goldman Sachs Group Inc next week could help stocks gain as long as investors see room for more profit growth.

Stronger-than-expected results late Thursday from tech bellwether Intel Corp failed to excite investors on Friday, while steep loan losses reported by JPMorgan Chase & Co. dragged down the market.

NYMEX-NEW YORK, Jan 15 (Reuters) - U.S. crude oil futures ended lower for the fifth day in a row on Friday as milder Northeast temperatures signaled weaker heating oil demand. A stronger dollar added pressure, prompting traders to pare positions in oil and other commodities.

On the New York Mercantile Exchange, February crude , which expires on Wednesday, settled down $1.39, or 1.75 percent, at $78 a barrel, the lowest close since Dec. 23's $76.67. For the week, it fell $4.75, or 5.7 percent, biggest weekly loss since week to Dec. 11's fall of $5.60, or 7.4 percent. It traded from $79.31 down to $77.70, lowest since Dec. 14's $76.19 intraday low.

FCPO-JAKARTA, Jan 18 (Reuters) - Malaysian crude palm oil futures ended slightly lower on Monday, recouping most of the day's 2.2 percent loss as investors moved to cover their short positions in an oversold market, traders said.
The tropical oil hit an eight-week low in early trade, extending a 5.3 percent fall from last week as the market was dragged down by weaker crude oil and rival soy prices.

REGIONAL EQUITIES-BANGKOK, Jan 18 (Reuters) - Singapore and Thai shares eked out small gains on Monday, with Siam City Bank climbing in Bangkok after another potential buyer emerged for a stake, but sentiment around the region was weak.

Several Southeast Asian stock markets ended in negative territory after number two U.S. bank JPMorgan reported heavy losses on mortgage and credit card loans, which cast doubt on consumer demand in the United States, a huge export market for Asia.

Singapore's index <.FTSTI> inched up 0.12 percent, with casino operator Genting Singapore advancing 3.2 percent as the top traded stock on the bourse, followed by Golden Agri , which gained 1.8 percent.

Malaysia's index <.KLSE> dipped 0.05 percent, weighed down by a 1.3 percent loss in palm plantation firm IOI Corp and a 0.11 percent loss in its peer, Sime Darby , as palm oil futures fell to eight-week lows.