The S&P 500 has rallied 11.9 percent since Sept. 1 and volume has picked up from anemic levels. But the rally could weaken as an index of bank stocks fell nearly 3 percent on Thursday over growing fears the foreclosure problems could bleed into the broader credit markets and the economy.
The Dow Jones industrial average <.DJI> dipped 1.51 points, or 0.01 percent, to 11,094.57. The Standard & Poor's 500 <.SPX> dropped 4.29 points, or 0.36 percent, to 1,173.81. The Nasdaq Composite <.IXIC> shed 5.85 points, or 0.24 percent, to 2,435.38.
NYMEX-NEW YORK, Oct 14 (Reuters) - U.S. crude futures slipped on Thursday as disappointing jobless claims data and losses on Wall Street pressured oil despite a weak dollar and a government report of an unexpected slip in oil stockpiles.
OPEC's decision to leave production targets unchanged and a forecast from an analyst that OPEC exports will rise in the four weeks to Oct. 30 helped curb oil, even as the dollar's slump and a strike affecting French refineries lent support.
On the New York Mercantile Exchange, November crude
CBOT-CHICAGO, Oct 14 (Reuters) - Chicago Board of Trade grain and soybean complex closing trends on Thursday.
CBOT-SOYBEANS - November
CBOT-SOYOIL - December
FCPO-KUALA LUMPUR, Oct 14 (Reuters) - Asian vegetable oil markets hit their highest in more than two years on Thursday, with palm oil hovering near a key resistance level on a weaker U.S. dollar and supply concerns.
The dollar fell to a ten-month low against a basket of currencies, fuelled by expectations of monetary easing by the U.S. Federal Reserve and raising hopes for stronger demand for cheaper dollar-priced products like soyoil and palm oil.
Malaysian palm oil futures <0#KPO:> ended half a percent lower after going as high as 2,970 ringgit ($960.8), a level not seen since August. 1 2008 and within striking distance of the key 3,000 ringgit resistance level.
REGIONAL EQUITIES-BANGKOK, Oct 14 (Reuters) - Most Southeast Asian stock markets ended firmer on Thursday, with foreign inflows rising on the back of a weak dollar, but late profit-taking helped pull indexes from multi-year highs.
Thailand <.SETI> and Indonesia <.JKSE> ended with small gains but the Philippines <.PSI> climbed almost 1 percent as foreign inflows hit the highest this year.
Malaysia <.KLSE> inched lower, after at one point touching a 33-month high, while Singapore <.FTSTI> ended down 0.2 percent after earlier approaching a 29-month high.
Singapore's central bank increased the slope of the band in which it maintains the Singapore dollar
Singapore palm oil company Wilmar International Ltd
Malaysia's top power producer, Tenaga Nasional Berhad