Wednesday, February 2, 2011

Trader's Highlight

DJI-NEW YORK, Feb 1 (Reuters) - U.S. stocks opened higher on Tuesday as solid manufacturing data in Europe helped investors refocus attentions from the maelstrom in the Middle East to hopes that a global economic recovery was on track.

The Dow Jones industrial average <.DJI> was up 33.64 points, or 0.28 percent, at 11,925.57. The Standard & Poor's 500 Index <.SPX> was up 3.02 points, or 0.23 percent, at 1,289.14. The Nasdaq Composite Index <.IXIC> was up 17.81 points, or 0.6percent, at 2,717.89.

NYMEX-NEW YORK, Feb 1 (Reuters) - U.S. crude oil ended lower on Tuesday, snapping a two-session rally sparked by the turmoil in Egypt, but fell deeper in post-settlement trading after industry data showed that domestic crude inventories rose more than expected last week.

The American Petroleum Institute reported that domestic crude stocks rose 3.8 million barrels last week.

On the New York Mercantile Exchange, crude for March delivery settled down $1.42, or 1.54 percent, at $90.77 a barrel, after trading from $90.48 to $92.45.

CBOT-CHICAGO, Feb 1 (Reuters) - Chicago Board of Trade grains and soy complex close on Tuesday.

CBOT-SOYBEANS - March up 25 cents at $14.38 per bushel. Rallied to 28-1/2 month high in spot contract and contract highs hit in March, May and August. Support from a port strike in Argentina that was delaying shipments, a weak dollar and cold weather in the United States that was increasing livestock feed consumption.

CBOT-SOYOIL - March up 0.84 cent at 58.72 cents per lb. Spillover support from gains in soybeans.

FCPO-KUALA LUMPUR, Jan 31 (Reuters) - Malaysian palm oil futures hit one-week highs on Monday as floods in key growing areas delayed deliveries, raising concern of a further tightening in global vegetable oil supplies and escalating inflation in importing nations.

Palm oil notched its highest daily gain this year with traders expecting the market to rally as floods in key producing regions of Johor and Sabah cut off access roads and bring harvesting to a standstill.

The benchmark April crude palm oil contract on the Bursa Malaysia Derivatives rose as much as 3 percent to 3,809 Malaysian ringgit ($1,247)a tonne, a level unseen since Jan. 24.

Traded volume stood at 19,085 lots at 25 tonnes each, as traders were compelled to take positions ahead of the a string of public holidays, including Federal Territories day on Tuesday and Lunar New Holiday on Thursday and Friday.

REGIONAL EQUITIES-BANGKOK, Feb 1 (Reuters) - Indonesian stocks climbed almost 1 percent on Tuesday, outperforming others in the region amid good demand for energy shares because of high global oil prices, but bank stocks fared badly as rising inflation hit sentiment.

Markets in the region saw relatively low turnover in a week shortened in many centres by Lunar New Year holidays. Volume in Indonesia fell to 0.88 times its 30-day avearage, with Singapore's easing to 0.91 times and Thailand's at 0.98 times.

Singapore <.FTSTI> ended a tad higher, trimming some of its early rise. The city-state's bourse is shut Thursday and Friday.