Tuesday, May 3, 2011

Trader's Highlight

DJI-NEW YORK, May 2 (Reuters) - U.S. stocks slipped on Monday, as an early bounce on Osama bin Laden's death gave way to questions around the longevity of the market's recent rally.

The impact of bin Laden's death by U.S. forces on financial markets prompted a quick flurry of buying, which was viewed as an emotional response. For details, see [ID:nL3E7G21FJ]. The Dow swung 92 points from its high of the day to its low.

The Dow Jones industrial average <.DJI> was down 3.18 points, or 0.02 percent, at 12,807.36. The Standard & Poor's 500 Index <.SPX> was down 2.39 points, or 0.18 percent, at 1,361.22. The Nasdaq Composite Index <.IXIC> was down 9.46 points, or 0.33 percent, at 2,864.08.

NYMEX-NEW YORK, May 2 (Reuters) - U.S. crude oil prices fell on Monday, reacting to U.S. forces killing al Qaeda leader Osama bin Laden and on some pressure from the beleaguered dollar receiving a bounce.

Brent crude futures also fell, as did U.S. RBOB gasoline and heating oil futures, but only after both U.S. crude and refined products and Brent crude contracts posted multi-month monthly gains on Friday.

On the New York Mercantile Exchange, June crude fell $1.53, or 1.3 percent, to $112.40 a barrel by 8:31 a.m. EDT (1231 GMT), trading from $110.82 to $114.14.

CBOT-U.S. soybean futures ended lower on Monday, although prices edged off earlier lows as gains in the U.S. dollar also eased, traders said. The dollar had been firm early on news that the al Qaeda leader Osama bin Laden was killed by an U.S. assault on his home in Pakistan, near Islamabad.

FCPO-KUALA LUMPUR/JAKARTA, April 29 (Reuters) - Malaysian crude palm oil fell to a one-week low on Friday as falling crude oil and comparative vegetable oils weighed on prices ahead of much anticipated export data.

The tropical oil is down about 14 percent so far this year as weak exports, prospects of better output in the second half and ample soy supplies from South America have weighed on sentiment.

At the close, the benchmark July crude palm oil on Bursa Malaysia Derivatives Exchange ended 0.7 percent lower at 3,270 ringgit ($1,102) after earlier falling as low as 3,237 ringgit -- a level not seen since April 19.

Traders are waiting for Malaysia's April palm oil export data, which may edge higher after four months of straight declines. Data from surveyor ITS is due to be issued over the weekend, while cargo surveyors will release their figures on Tuesday.

REGIONAL EQUITIES-BANGKOK, April 29 (Reuters) - Some Southeast Asian stock markets ended marginally higher in moderate volume on Friday, led by financials and big-caps, as a weakening U.S. dollar pushed investors towards regional assets.

Most share markets added to their gains in April as risk appetite in general rose, with Thai stocks racking up almost $1 billion in inflows on the month, the highest level since September, although trailing Indonesia's $2 billion.

In Singapore, DBS Group Holdings rose as much as 1 percent after Southeast Asia's biggest lender posted a record quarterly profit thanks to falling bad-debt charges and a surge in trading income.