Monday, March 22, 2010

Trader's Highlight

DJI-NEW YORK, March 19 (Reuters) - The Dow industrials snapped an eight-session winning streak on Friday, as renewed worries about Greece sparked a climb in the dollar and weighed on U.S. stocks.

Sectors sensitive to dollar moves were hit hard, including materials, chip makers and energy. The S&P Energy Index <.GSPE> was down 0.9 percent as commodities, including gold and U.S. crude oil futures, dropped. Dow component Exxon Mobil fell 0.5 percent to $67.04.

The Dow Jones industrial average <.DJI> dropped 37.19 points, or 0.35 percent, to end at 10,741.98. The Standard & Poor's 500 Index <.SPX> lost 5.93 points, or 0.51 percent, to 1,159.90. The Nasdaq Composite Index <.IXIC> shed 16.87 points, or 0.71 percent, to 2,374.41.

NYMEX-NEW YORK, March 19 (Reuters) - U.S. crude oil futures ended nearly 2 percent lower on Friday, as the dollar gained against the euro, prompting a sell-off in an array of commodities.

Prices also fell as traders were closing out positions on the front-month NYMEX April crude contract, which expires on Monday.

On the New York Mercantile Exchange, April crude, which expires on Monday, settled $1.52, or 1.85 percent lower, at $80.68 a barrel, trading from $79.86 to $82.17. The contract fell for a second day in a row and for the second consecutive
week. For the week, it was off 56 cents, or 0.69 pct.

CBOT-CHICAGO, March 19 (Reuters) - Chicago Board of Trade grains and soy complex close on Friday.

CBOT-SOYBEANS - May up 2-1/4 cents per bushel at $9.61-3/4. Support from short-covering and news from USDA that exporters sold 106,000 tonnes of soy to an unknown destination, likely China, lifted soy as did seasonal buying by commodity trading funds.

CBOT-SOYOIL - May up 0.05 cent at 39.30 cents per lb. Following soybeans and on short-covering after the slide of prices on Thursday.

FCPO-KUALA LUMPUR, March 19 (Reuters) - Malaysia palm oil futures rose 1.7 percent on Friday, aided by some firmer foreign markets after it hit five-week lows the previous day.

The stronger U.S. dollar limited gains in the market. Refined palm oil products are priced in the greenback and any rises in the U.S. currency can limit export sales.

Palm oil lost 2.7 percent this week as investors say prices have run up "too high, too fast" and also on concerns of the incoming South American soy crop pressuring global vegetable oil markets.

Benchmark June crude palm oil futures on the Bursa Malaysia Derivatives Exchange ended up 42 ringgit to 2,577 ringgit ($779.7) per tonne. On Thursday, the market fell to 2,528 ringgit, a level not seen since Feb. 5.

REGIONAL EQUITIES-BANGKOK, March 19 (Reuters) - Indonesian shares climbed to their highest level in almost seven weeks on Tuesday as financials and big caps gained, but Thai stocks fell further ahead of an anti-government rally at the end of the week.

Stock markets in the region ended mixed, taking a breather as U.S. stock index futures pointed to a slightly lower start on Wednesday. At 0934 GMT the futures <.DJHO> were down 0.16 percent.

Singapore <.FTSTI> edged up 0.18 percent, Malaysia <.KLSE> fell 0.5 percent, the Philippines <.PSI> added 0.4 percent and Vietnam <.VNI> rose for a fifth session, ending up 1.2 percent.

In Singapore, the index rose for a third session, with the biggest developer, CapitaLand , up 0.25 percent and the largest telecoms firm, Singapore Telecommunication , up 0.96 percent.

In Kuala Lumpur, financials gave up their recent gains, with Malayan Banking falling 1.5 percent, Public Bank easing 0.5 percent and AMMB Holding down 0.6 percent.