DJI- NEW YORK, March 14 (Reuters) - The S&P 500 broke a five-day streak of gains on Wednesday as investors found little reason to extend a rally that took the benchmark index to four-year highs.
While the major averages ended essentially flat, three stocks fell for every gainer on the New York Stock Exchange, a sign of investors pulling back from gains that have lifted numerous blue-chips to 52-week highs. Procter & Gamble, the consumer products maker, hit a 52-week high at $67.95 before dipping 0.1 percent to close at $67.85. The stock of major U.S. oil company Chevron climbed to a 52-week high at $112.28 during the session, only to slip 0.5 percent to end at $110.69.
The Dow Jones industrial average <.DJI> rose 16.42 points,or 0.12 percent, to 13,194.10 at the close. The Standard & Poor's 500 Index <.SPX> slipped 1.67 points, or 0.12 percent, to 1,394.28. The Nasdaq Composite Index <.IXIC> inched up just 0.85
of a point, or 0.03 percent, to 3,040.73.
NYMEX- NEW YORK, March 14 (Reuters) - U.S. crude futures fell on Wednesday as rising crude oil inventories in the United States and the dollar's strength combined to pressure oil prices.
U.S. crude oil inventories rose 1.75 million barrels last week, the weekly report from the Energy Information Administration (EIA) said
On the New York Mercantile Exchange, April crudefell $1.28, or 1.2 percent, to $105.43 a barrel, having traded from $105.12 to $107.02.
CBOT SOYBEANS- Chicago Board of Trade soybean futures ended higher on dwindling
stocks after a drought in South America trimmed soy output.
Soy/corn spreading also supportive as the soybean market attempted to "buy" acreage ahead of the U.S. 2012 planting season. The December corn/November soybean ratio was at 2.32.
Soymeal closed firmer and soyoil ended weaker.
NOPA monthly crush report showed U.S. February soybean crush at 136.350 million bushels, below 142.813 million in January and above an average of analysts' estimates for 134.5 million bushels.
FCPO- SINGAPORE, March 14 (Reuters) - Malaysian crude palm oil futures rose to a nine-month high on Wednesday as recovering exports raised demand prospects for the edible oil and upbeat U.S. economic data lifted investor confidence.
While the U.S. Federal Reserve provided few clues on further monetary easing, it offered a slight upgrade to its economic outlook, which together with rising retail sales reinforced the view the world's biggest economy is on the road to recovery.
An improvement in Malaysian exports for the first ten days of March has also helped palm oil extend its gain to 6.6 percent this year, although optimism was somewhat clouded by an unexpected rise in February palm oil stocks.
Benchmark May palm oil futures on the Bursa Malaysia Derivatives Exchange rose 0.6 percent to close at 3,385 ringgit ($1,110)per tonne. Prices touched a new high of 3,395 ringgit, a level not seen since last June.
Traded volumes on Wednesday stood at 24,003 lots of 25 tonnes each, slightly lower than the usual 25,000 lots.
REGIONAL EQUITY- BANGKOK, March 14 (Reuters) - Southeast Asian stocks climbed on Wednesday, with Philippine shares setting a record high, as upbeat U.S. economic data helped stoke appetite for risk and demand for growth stocks lifted consumer and banking shares.
The Philippine index <.PSI> finished up 0.9 percent. The index hit an intraday peak of 5,070.20, breaching the previous intraday all-time high of 5,039.29 set on March 6.
UBS upgraded its year-end target for the benchmark Straits Times Index to 3,350 from 3,200 driven by expectation of some upgrades in earnings forecasts.
In Singapore, United Overseas Bank Ltdgained 2.6 percent, with CIMB Research upgrading the stock to outperform from neutral, citing a minor underperformance after fourth-quarter results.
Kuala Lumpur-listed AirAsia Bhd, Asia's largest budget carrier, rose 1.4 percent, recouping some of the combined 4.4 percent losses of past five sessions.
While the major averages ended essentially flat, three stocks fell for every gainer on the New York Stock Exchange, a sign of investors pulling back from gains that have lifted numerous blue-chips to 52-week highs. Procter & Gamble
The Dow Jones industrial average <.DJI> rose 16.42 points,or 0.12 percent, to 13,194.10 at the close. The Standard & Poor's 500 Index <.SPX> slipped 1.67 points, or 0.12 percent, to 1,394.28. The Nasdaq Composite Index <.IXIC> inched up just 0.85
of a point, or 0.03 percent, to 3,040.73.
NYMEX- NEW YORK, March 14 (Reuters) - U.S. crude futures fell on Wednesday as rising crude oil inventories in the United States and the dollar's strength combined to pressure oil prices.
U.S. crude oil inventories rose 1.75 million barrels last week, the weekly report from the Energy Information Administration (EIA) said
On the New York Mercantile Exchange, April crude
CBOT SOYBEANS- Chicago Board of Trade soybean futures ended higher on dwindling
stocks after a drought in South America trimmed soy output.
Soy/corn spreading also supportive as the soybean market attempted to "buy" acreage ahead of the U.S. 2012 planting season. The December corn/November soybean ratio was at 2.32.
Soymeal closed firmer and soyoil ended weaker.
NOPA monthly crush report showed U.S. February soybean crush at 136.350 million bushels, below 142.813 million in January and above an average of analysts' estimates for 134.5 million bushels.
FCPO- SINGAPORE, March 14 (Reuters) - Malaysian crude palm oil futures rose to a nine-month high on Wednesday as recovering exports raised demand prospects for the edible oil and upbeat U.S. economic data lifted investor confidence.
While the U.S. Federal Reserve provided few clues on further monetary easing, it offered a slight upgrade to its economic outlook, which together with rising retail sales reinforced the view the world's biggest economy is on the road to recovery.
An improvement in Malaysian exports for the first ten days of March has also helped palm oil extend its gain to 6.6 percent this year, although optimism was somewhat clouded by an unexpected rise in February palm oil stocks.
Benchmark May palm oil futures on the Bursa Malaysia Derivatives Exchange rose 0.6 percent to close at 3,385 ringgit ($1,110)per tonne. Prices touched a new high of 3,395 ringgit, a level not seen since last June.
Traded volumes on Wednesday stood at 24,003 lots of 25 tonnes each, slightly lower than the usual 25,000 lots.
REGIONAL EQUITY- BANGKOK, March 14 (Reuters) - Southeast Asian stocks climbed on Wednesday, with Philippine shares setting a record high, as upbeat U.S. economic data helped stoke appetite for risk and demand for growth stocks lifted consumer and banking shares.
The Philippine index <.PSI> finished up 0.9 percent. The index hit an intraday peak of 5,070.20, breaching the previous intraday all-time high of 5,039.29 set on March 6.
UBS upgraded its year-end target for the benchmark Straits Times Index to 3,350 from 3,200 driven by expectation of some upgrades in earnings forecasts.
In Singapore, United Overseas Bank Ltd
Kuala Lumpur-listed AirAsia Bhd
