Tuesday, July 20, 2010

Trader's Highlight

DJI-NEW YORK, July 19 (Reuters) - U.S. stocks rose on Monday, spurred by optimism ahead of earnings from key technology companies and after Dow component Boeing announced strong orders.

Investors bet on solid reports from International Business Machines , the world's largest technology services provider, and chip maker Texas Instruments , hoping they would echo Intel's positive results last week. Intel's forecast-beating profits and revenues had shown strength in technology spending.

The Dow Jones industrial average <.DJI> added 56.53 points, or 0.56 percent, to 10,154.43. The Standard & Poor's 500 Index <.SPX> rose 6.37 points, or 0.60 percent, to 1,071.25. The Nasdaq Composite Index <.IXIC> gained 19.18 points, or 0.88 percent, to 2,198.23.

NYMEX-NEW YORK, July 19 (Reuters) - U.S. crude futures gained on Monday, snapping a three-day losing streak, as Wall Street lent support with some robust quarterly reports that raised hopes for oil demand going forward.

But a report showing that U.S. homebuilder sentiment fell more than expected in July to its lowest level in more than a year tempered sentiment, limiting gains in equities and also tempering the advance in the energy markets.

On the New York Mercantile Exchange, crude for August delivery settled up 53 cents, or 0.7 percent, at $76.54 a barrel, trading from $75.50 to $77.69.

CBOT-CHICAGO, July 19 (Reuters) - Chicago Board of Trade grain and soy complex close on Monday.

CBOT-SOYBEANS - August down 11-1/2 cents at $10.08 per bushel; new-crop November down 13 at $9.72. Rain, warm weather for U.S. Midwest; no threat to crops - forecast.

CBOT-SOYOIL - August down 0.35 cent at 37.96 cents per lb. Pressure from lower soybean futures.

FCPO-JAKARTA, July 19 (Reuters) - Malaysian crude palm oil closed up on Monday as expectations of lower stocks due to strong demand offered support and as concerns that erratic weather may cut rival soybean yields.

The benchmark October contract on Bursa Malaysia's Derivatives Exchange settled up 5 ringgit or 0.2 percent to 2,454 ringgit ($753.5) a tonne. Overall volume stood at 13,280 lots of 25 tonnes each, more than the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, July 19 (Reuters) - Most Southeast Asian stock markets fell on Monday, fretting over the U.S. economic outlook and over Europe's fiscal health as Moody's cut Ireland's credit rating.

Markets in Singapore <.FTSTI>, Malaysia <.KLSE>, Indonesia <.JKSE> and the Philippines <.PSI> each fell to around a one-week low.

Singapore's Wilmar International , the world's largest listed palm oil firm, fell 0.8 percent, Malaysian rival Sime Darby lost 0.8 percent and Malaysian number two IOI Corp eased 1 percent.

IOI expected the La Nina weather pattern to have a major impact on palm oil production in Southeast Asia as heavier rainfall may hamper harvesting.