Monday, November 22, 2010

Trader's Highlight

DJI-NEW YORK, Nov 19 (Reuters) - Hopes Ireland's debt crisis will soon be resolved lifted investor sentiment and the euro on Friday even as U.S. oil prices slid after China sought to curb inflation for the second time in two weeks.

Wall Street rebounded late in the session, pulling along global stocks, on a rally in semiconductors. But the broad U.S. market finished just below a key psychological level, a sign shares could trade in a tight range through year's end.

On Wall Street, the Dow Jones industrial average <.DJI> was up 22.32 points, or 0.20 percent, at 11,203.55. The Standard & Poor's 500 Index <.SPX> was up 3.04 points, or 0.25 percent, at 1,199.73. The Nasdaq Composite Index <.IXIC> was up 3.72 points, or 0.15 percent, at 2,518.12.

NYMEX-NEW YORK, Nov 19 (Reuters) - U.S. crude oil futures fell for the fifth session in six on Friday, wrapping up a second straight week of losses, as China increased bank reserve requirements to fight high inflation.

China's move, seen likely to temper consumption in the world's second largest oil consumer, spurred further speculation that it might increase interest rates.

On the New York Mercantile Exchange, crude for December delivery expired at the close and settled 34 cents lower, or 0.42 percent, at $81.51 a barrel, after trading from $80.59 to $82.75.

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

CBOT-SOYBEANS - January down 40-1/2 cents per bushel at $12.01-1/2. Nervous profit-taking after the big rally on Thursday. China's plans to rein in food inflation and news China will be selling vegoils from reserves adding pressure.

CBOT-SOYOIL - December down 1.96 cents per lb at 48.96. News China plans to sell vegoils from reserves weighing on soyoil futures.

FCPO-KUALA LUMPUR, Nov 19 (Reuters) - Malaysian palm oil edged higher on Friday as anxieties over Irish debt crisis eased a little, although gains were limited by a likelihood of China interest rates hike.

But the market is still set to post its first weekly loss since September, driven earlier by some technical selling and concern Malaysian palm oil exports in the second half of November may slow on the recent strength in the U.S. dollar.

The benchmark Feb 2011 palm oil on the Bursa Malaysia Derivatives Exchange ended 8 ringgit up at 3,326 ringgit ($1,068) per tonne in choppy trade. Overall trade volumes more than doubled to 22,335 lots at 25 tonnes each.

REGIONAL EQUITIES-COLOMBO, Nov 19 (Reuters) - Most Southeast Asian stock markets closed firmer on Friday as foreign inflows picked on easing concerns over the euro zone debt crisis.

Thailand <.SETI> saw the year's largest foreign inflows with $186 million, helping nudge the market up 0.4 percent following outflows of $318.7 million in six sessions through Wednesday.

Malaysia <.KLSE> rose 0.6 percent, led by financials with a 1.6 percent rise in Malayan Banking. Bucking the trend Singapore <.FTSTI> lost 0.6 percent on worries of possible rate increases in China and regional price controls.