Tuesday, March 15, 2011

Trader's Highlight

DJI-NEW YORK, March 14 (Reuters) - U.S. stocks fell in the aftermath of Japan's ORKdevastating earthquake on Monday, but other than specific industries such as nuclear power, the broad impact on equities was expected to be short-lived.

Trading volume was unusually low compared with other sell-offs, coming in at 7.68 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, below last year's daily average of 8.47 billion. The recent pullback in stocks had been accompanied by high volume.

The Dow Jones industrial average <.DJI> was down 51.24 points, or 0.43 percent, at 11,993.16. The Standard & Poor's 500 Index <.SPX> was down 7.89 points, or 0.60 percent, at 1,296.39. The Nasdaq Composite Index <.IXIC> was down 14.64 points, or 0.54 percent, at 2,700.97.

NYMEX-NEW YORK, March 14 (Reuters) - U.S. crude oil futures edged up on Monday, recovering from the day's losses, on concerns about unrest in the Middle East.

Worries about lower demand from Japan after last week's devastating earthquake limited the day's gains.

Heating oil futures led gainers in the energy complex, with front-month April rising more than 1 percent, on assumptions of higher distillate imports from Japan.

On the New York Mercantile Exchange, crude for April delivery settled at $101.19 a barrel, up 3 cents, or 0.03 percent, after trading from $98.47, lowest since March 1's $96.37 low, to $101.29.

CBOT-CHICAGO, March 14 (Reuters) - Chicago Board of Trade May soybean futures ended higher, with midday gains sustained by late-session fund buying in thin trading, traders said.

Prices had rebounded from a lower opening amid commercial buying despite ongoing worries about the global economic impact of the horrific earthquake and tsunami that hit Japan on Friday.

Soybeans also shrugged off pressure from a lower-than-expected monthly crushing data released Monday by the National Oilseeds Processors Association.

REGIONAL EQUITIES-BANGKOK, March 14 (Reuters) - Thai and Indonesian stocks climbed higher on Monday as buyers flocked to resource-related shares, including refineries that are likely to benefit from tight supply and rising margins after the earthquake in Japan.

That helped offset the general hit to sentiment from the devastating earthquake and tsunami, which are likely to depress demand from Japan, a big importer and investor in Southeast Asia.

Thailand's benchmark SET index <.SETI> gained 1.6 percent, with turnover falling short of its 30-day average. Indonesia <.JKSE> posted a smaller 0.8 percent rise, but other markets in the region fell.