Thursday, October 7, 2010

Trader's Highlight

DJI-NEW YORK, Oct 6 (Reuters) - Tech shares slumped on Wednesday, hit by worries about demand for semiconductors and data storage.

The Nasdaq bore the brunt of the day's selling, led by data system services provider Citrix Systems . The stock was down in sympathy with small-cap Equinix Inc , which plunged 33.1 percent to $70.34 after it issued a revenue warning late Tuesday. Citrix slid 14.1 percent to $60.15.

The Dow Jones industrial average <.DJI> added 22.93 points, or 0.21 percent, to 10,967.65. The Standard & Poor's 500 Index <.SPX> inched down 0.78 of a point, or 0.07 percent, to 1,159.97. The Nasdaq Composite Index <.IXIC> dropped 19.17 points, or 0.80 percent, to 2,380.66.

NYMEX-NEW YORK, Oct 6 (Reuters) - U.S. crude oil futures prices rose on Wednesday for the fifth time in six sessions as the government's report of a larger-than-expected drop in gasoline stockpiles and the slumping dollar lifted oil to a five-month peak.

A drop in both gasoline and distillate inventories allowed investors to shrug off the U.S. Energy Information Administration's report that crude oil stocks rose more than expected.

On the New York Mercantile Exchange, November crude rose 41 cents, or 0.5 percent, to settle at $83.23 a barrel, trading from $82.29 to $84.09, highest intraday price since $86.24 was struck on May 4.

CBOT-CHICAGO, Oct 6 (Reuters) - Chicago Board of Trade grain and soybean complex close on Wednesday.

CBOT-SOYBEANS - November down 9-3/4 cents at $10.62 a bushel. Lower on technical selling and profit-taking after Tuesday's dollar-driven rally. Optimal U.S. harvest weather adds pressure. Market underpinned by uncertainty ahead of USDA's Friday crop report, and brisk demand for soybeans, especially from China.

CBOT-SOYOIL - October down 0.03 cent at 43.44 cents per lb. Following soybeans lower but market underpinned by unwinding of meal/oil spreads.

FCPO-KUALA LUMPUR, Oct 6 (Reuters) - Palm oil prices hit a near one-week high on Wednesday on expectations of a new round of central bank action to ginger up weakening economies although a record U.S. soy crop dragged on sentiment.

Hopes of central banks easing monetary policies weighed on the greenback, as it would make dollar-priced commodities such as Malaysian palm oil and U.S. soyoil cheaper for big customers like China and India.

Benchmark Malaysian palm oil prices <0#KPO:> ended up 0.9 percent at 2,730 ringgit ($882.1) after going as high as 2,735 ringgit -- a level unseen since Oct 1. Traded volume stood at 11,654 lots of 25 tonnes each.

Early this week, the palm oil market fell to two-week lows pulled down by a sell-off in grains after a report on huge U.S. corn stockpiles the previous day scared investors.

REGIONAL EQUITIES-BANGKOK, Oct 6 (Reuters) - Southeast Asian stock markets set multi-year highs on Wednesday as the prospect of major central banks stepping up asset purchases boosted inflows across the region.

Singapore's index <.FTSTI> hit a 28-month high, and the indices of Indonesia <.JKSE> and the Philippines <.PSI> touched all-time highs.

Malaysia <.KLSE> marked a new 32-month high, while Vietnam <.VNI> rose for a second session, adding 2.2 percent to its highest in two weeks, and Thailand <.SETI> finished up 1 percent, clawing back up close to a 14-year high set early in the week.

In Singapore, banks led gainers, with top lender DBS Group Holdings Ltd up nearly 1 percent and United Overseas Bank Ltd rising 1.1 percent.