DJI- NEW YORK, April 9 (Reuters) - The Dow and the S&P 500 extended losses to a fourth day on Monday, as investors took their cues from last week's disappointing jobs report, which raised fresh concerns about the U.S. economy's recovery.
Despite Monday's declines, the Dow industrials and the S&P 500 ended above their session lows. But trading has been choppy in recent weeks, with a series of gains interrupted by a few days of losses.
Banks and industrials led the S&P 500's slide, with the S&P financial sector index <.GSPF> and the S&P industrial sector index <.GSPI> each down 1.6 percent. The two sectors are closely tied to the prospects for economic growth.
The latest jobs figures added to a series of weaker-than-expected indicators, which have taken the edge off a strong multi-month rally.
In addition to the U.S. jobs figures released last week, China's surprisingly soft producer prices data sparked concerns about waning demand in the world's second-largest economy. The country's March PPI data reinforced expectations that a cooling economy has eclipsed inflation as the Chinese government's biggest near-term worry.
The Dow Jones industrial average <.DJI> fell 130.55 points, or 1.00 percent, to end at 12,929.59. The Standard & Poor's 500 Index <.SPX> slid 15.88 points, or 1.14 percent, to 1,382.20. The Nasdaq Composite Index <.IXIC> dropped 33.42 points, or 1.08 percent, to close at 3,047.08.
CBOT SOYBEAN-Soybean futures on the Chicago Board of Trade ended lower on long liquidation and profit-taking after the market set a seven-month high and ahead of a monthly U.S. government crop report, traders said.
* Soyoil gained against soymeal on oil/meal spreads.
* Spot soybeansreached $14.46-3/4 a bushel in Globex-only trade overnight, the highest spot soybean price on continuous charts since Aug. 31, 2011.
* CFTC data released Friday showed large speculators held a record-large net long position in CBOT soybeans of 206,437 contracts as of April 3, leaving the market open to bouts of
long liquidation. ID:nEMS10XE9J]
* Also, open interest in CBOT soybean futures hit a record-high 779,856 contracts as of Thursday.
* Soy market underpinned by concerns about a shrinking South American soybean harvest and worries that U.S. farmers might not plant enough soybeans this spring to meet global demand.
* Analysts surveyed by Reuters expect USDA in supply/demand reports on Tuesday to lower its forecast of U.S. 2011/12 soybean ending stocks, as well as its estimates of the 2011/12 soy
harvests in Brazil and Argentina. [ID:nL2E8F4A2E]
FCPO- SINGAPORE, April 9 (Reuters) - Malaysian palm oil futures eased on Monday, as market players booked profits from a 13-month high hit earlier in the day, with losses capped by expectations of lower stocks due to a shift in demand to palm oil from soyoil, where supply is tightening.
Industry regulator the Malaysian Palm Oil Board will issue the widely watched stocks data for March on Tuesday. [PALM/POLL]
Palm oil jumped almost 5 percent last week on improved demand following a damaging drought in soy-exporting South America and U.S. data showing farmers will plant less soy this
season, setting the stage for prices to fall back from an overbought position this week, traders said.
Benchmark June palm oil futureson the Bursa Malaysia Derivatives Exchange closed 0.8 percent lower at 3,575 ringgit ($1,165) per tonne after going as high as 3,623 ringgit, a level not seen since March 8 last year.
Traded volumes stood at 24,548 lots of 25 tonnes each, slightly lower than the usual 25,000 lots.
Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will also release Malaysian palm oil exports data for the first 10 days of April on Tuesday. [PALM/ITS] [PALM/SGS]
REGIONAL EQUITY- April 9 (Reuters) - Most Southeast Asian markets fell on Monday as concerns over a sharp slowdown in U.S. jobs growth reduced investor appetite for risky assets in the region with Singapore falling to a one-month low in light trading volume.
Singapore <.FTSTI> fell 0.9 percent to hit its lowest since March 7, Indonesia <.JKSE> lost 0.3 percent led by financials with a $9.3 million outflow and Malaysia <.KLSE> ended 0.5 percent weaker to its lowest since March 29.
Bucking the trend, Vietnam <.VNI> closed 0.7 percent firmer. Stock markets in Thailand <.SETI> and the Philippines <.PSI> were closed for a holiday.
Despite Monday's declines, the Dow industrials and the S&P 500 ended above their session lows. But trading has been choppy in recent weeks, with a series of gains interrupted by a few days of losses.
Banks and industrials led the S&P 500's slide, with the S&P financial sector index <.GSPF> and the S&P industrial sector index <.GSPI> each down 1.6 percent. The two sectors are closely tied to the prospects for economic growth.
The latest jobs figures added to a series of weaker-than-expected indicators, which have taken the edge off a strong multi-month rally.
In addition to the U.S. jobs figures released last week, China's surprisingly soft producer prices data sparked concerns about waning demand in the world's second-largest economy. The country's March PPI data reinforced expectations that a cooling economy has eclipsed inflation as the Chinese government's biggest near-term worry.
The Dow Jones industrial average <.DJI> fell 130.55 points, or 1.00 percent, to end at 12,929.59. The Standard & Poor's 500 Index <.SPX> slid 15.88 points, or 1.14 percent, to 1,382.20. The Nasdaq Composite Index <.IXIC> dropped 33.42 points, or 1.08 percent, to close at 3,047.08.
CBOT SOYBEAN-Soybean futures on the Chicago Board of Trade ended lower on long liquidation and profit-taking after the market set a seven-month high and ahead of a monthly U.S. government crop report, traders said.
* Soyoil gained against soymeal on oil/meal spreads.
* Spot soybeans
* CFTC data released Friday showed large speculators held a record-large net long position in CBOT soybeans of 206,437 contracts as of April 3, leaving the market open to bouts of
long liquidation. ID:nEMS10XE9J]
* Also, open interest in CBOT soybean futures hit a record-high 779,856 contracts as of Thursday.
* Soy market underpinned by concerns about a shrinking South American soybean harvest and worries that U.S. farmers might not plant enough soybeans this spring to meet global demand.
* Analysts surveyed by Reuters expect USDA in supply/demand reports on Tuesday to lower its forecast of U.S. 2011/12 soybean ending stocks, as well as its estimates of the 2011/12 soy
harvests in Brazil and Argentina. [ID:nL2E8F4A2E]
FCPO- SINGAPORE, April 9 (Reuters) - Malaysian palm oil futures eased on Monday, as market players booked profits from a 13-month high hit earlier in the day, with losses capped by expectations of lower stocks due to a shift in demand to palm oil from soyoil, where supply is tightening.
Industry regulator the Malaysian Palm Oil Board will issue the widely watched stocks data for March on Tuesday. [PALM/POLL]
Palm oil jumped almost 5 percent last week on improved demand following a damaging drought in soy-exporting South America and U.S. data showing farmers will plant less soy this
season, setting the stage for prices to fall back from an overbought position this week, traders said.
Benchmark June palm oil futures
Traded volumes stood at 24,548 lots of 25 tonnes each, slightly lower than the usual 25,000 lots.
Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will also release Malaysian palm oil exports data for the first 10 days of April on Tuesday. [PALM/ITS] [PALM/SGS]
REGIONAL EQUITY- April 9 (Reuters) - Most Southeast Asian markets fell on Monday as concerns over a sharp slowdown in U.S. jobs growth reduced investor appetite for risky assets in the region with Singapore falling to a one-month low in light trading volume.
Singapore <.FTSTI> fell 0.9 percent to hit its lowest since March 7, Indonesia <.JKSE> lost 0.3 percent led by financials with a $9.3 million outflow and Malaysia <.KLSE> ended 0.5 percent weaker to its lowest since March 29.
Bucking the trend, Vietnam <.VNI> closed 0.7 percent firmer. Stock markets in Thailand <.SETI> and the Philippines <.PSI> were closed for a holiday.
