Friday, August 5, 2011

Trader's Highlight

DJI-NEW YORK, Aug 4 (Reuters) - Investors fled Wall Street in the worst stock-market selloff since the middle of the financial crisis in early 2009 in what has turned into a full-fledged correction.

The Dow and the S&P tumbled more than 4 percent on Thursday and the Nasdaq lost 5 percent on fear the United States is staring at another recession and that Europe's sovereign debt crisis is swallowing two of its largest economies.

Analysts predicted further losses even though stocks have fallen on nine of the last 10 days. Two-year Treasury yields fell to a record low as investors sought safety in short-term government bonds.

The Dow Jones industrial average .DJI was down 512.46 points, or 4.31 percent, at 11,383.98. The Standard & Poor's 500 Index .SPX fell 60.21 points, or 4.78 percent, at 1,200.13. The Nasdaq Composite Index .IXIC lost 136.68 points, or 5.08 percent, at 2,556.39.

NYMEX-NEW YORK, Aug 4 (Reuters) - U.S. crude futures fell more than 5 percent on Thursday, dropping through technical support to the lowest since February as mounting fears of a stalled economy sent investors away from riskier assets.

RBOB gasoline futures again were the day's biggest percentage loser in the oil complex, dropping more than 6 percent, while heating oil futures fell more than 4 percent.

On the New York Mercantile Exchange, September crude CLU1 fell $5.30 or 5.77 percent, to settle at $86.63 a barrel, having traded from $86.04 to $92.59.

CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell nearly 2 percent, their biggest decline since June 30, following a broad sell-off in commodity and equity markets as worries about the U.S. economy and European debt escalated. .N

Front-month August soybean futures Sc1 dipped to $13.34 a bushel, the lowest level on continuous charts since July 7.


FCPO-JAKARTA, Aug 4 (Reuters) - Malaysian palm oil futures closed 1.1 percent lower on Thursday, tracking comparable vegetable oils lower on persistent global economic jitters and crude prices that flirted with one-month lows.

The benchmark October contract KPOc3 on the Bursa Malaysia Derivatives Exchange ended at 3,101 ringgit ($1,043) per tonne, but off an earlier low of 3,100 ringgit.

Traded volumes for the contract were 10,163 lots of 25 tonnes each, compared to 9,607 lots on Wednesday.

REGIONAL EQUITIES-BANGKOK, Aug 4 (Reuters) - Stocks in Singapore, Indonesia and Thailand dropped on Thursday and investors sold recent gainers such as banks as worries about global growth lingered, while quarterly results generally failed to spur much buying interest.

Other markets also erased most of their early gains but Malaysia .KLSE and the Philippines .PSI still ended slightly higher and Vietnam .VNI climbed 1.2 percent, helped by a report the central bank would try to get borrowing costs down for industry.

In Singapore, Oversea-Chinese Banking Corp OCBC.SI fell 2 percent. Singapore's second-biggest lender missed forecasts for its April-June quarterly profit as staff costs and bad debt charges jumped, partially offsetting strong income from loan growth.