Friday, June 25, 2010

Trader's Highlight

DJI-NEW YORK, June 24 (Reuters) - The S&P 500 fell for the fourth straight day on Thursday as fresh signs of consumer weakness and worries about stringent financial regulation provoked investors to unload positions.

The S&P 500 has lost 3.8 percent in four days, with retailers among the biggest decliners a day after discouraging outlooks from Bed Bath & Beyond and athletic apparel maker Nike Inc .

The Dow Jones industrial average <.DJI> dropped 145.64 points, or 1.41 percent, to 10,152.80. The Standard & Poor's 500 Index <.SPX> fell 18.35 points, or 1.68 percent, to 1,073.70. The Nasdaq Composite Index <.IXIC> lost 36.81 points, or 1.63 percent, to 2,217.42.

NYMEX-NEW YORK, June 24 (Reuters) - U.S. crude oil futures settled slightly higher on Thursday after a choppy session as the dollar's weakness and a lingering threat of tropical weather in the Gulf of Mexico helped crude recover from an early slide.

Both crude futures and the dollar seesawed and traders noted crude found support at the intraday low of $75.32, which was just below technical support charted at $75.3.

Some support came on Thursday from data showing new U.S. jobless benefit claims fell last week, while orders for durable goods excluding transportation rose in May, though overall durable goods orders fell.

On the New York Mercantile Exchange, August crude rose 16 cents, or 0.21 percent, to settle at $76.51 a barrel, trading from $75.32 to $76.57, staying inside Wednesday's $75.17 to $77.83 trading range.

CBOT-CHICAGO, June 24 (Reuters) - Chicago Board of Trade grains and soy complex close on Thursday.

CBOT-SOYBEANS - July down 2-1/2 cents at $9.55-1/2 per bushel; new-crop November down 11-1/2 at $9.12. Pressured by deferred months on bull-spreading and a turn to drier weather in the U.S. Midwest that will boost growth of the 2010 crop. Tight cash and slow farmer selling underpin nearby July.

CBOT-SOYOIL - July down 0.42 cent at 37.17 cents per lb. Pressure from weak crude oil and meal/oil spreading.

FCPO-KUALA LUMPUR, June 24 (Reuters) - Malaysian crude palm oil futures made little headway on Thursday as players took positions ahead of export data expected to be strong, although lacklustre crude markets curbed gains.

This week, cargo surveyors reported a jump of at least 15.5 percent in Malaysian palm oil exports for June 1-20 from the same period a month ago. Exports for June 1-25 will be released on Friday.

The benchmark September crude palm oil futures on the Bursa Malaysia Derivatives Exchange ended 0.3 percent or 6 ringgit higher at 2,390 ringgit ($740.6) per tonne. Traded volume at 12,431 lots of 25 tonnes each, well above the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, June 24 (Reuters) - Southeast Asian stock markets fell further on Thursday as investors sold energy and resource shares after comments from the Federal Reserve about the faltering U.S. economic recovery.

Equities in the region erased early gains and investors traded cautiously, taking their lead from U.S. stock futures, which pointed to a lower start on Thursday.

Singapore's Straits Times Index <.FTSTI> fell for a third session, losing another 0.8 percent to its lowest in almost a week. Indonesia <.JKSE> and the Philippines <.PSI> also fell for a third day, posting smaller losses.

Malaysia <.KLSE>, Thailand <.SETI> and Vietnam <.VNI> also ended the session lower, quickly reversing gains on Wednesday.