Market Factors to Watch | Friday, 26 September 2014 ==================================== GLOBAL MARKETS ==================================== • US MARKETS — U.S. stocks fell sharply Thursday with all three major indices plunging more than 1 percent, as a slump in durable goods orders and escalating geopolitical risks spooked investors. The benchmark indices suffered their worst single-day declines in nearly two months. The Dow Jones Industrial Average closed at a session low of 16,945.80 points, diving 264.26 points, or 1.54 percent. The S&P 500 sank 32.31 points, or 1.62 percent, to 1,965. 99. The NASDAQ Composite Index skidded 88.47 points, or 1.94 percent, to 4,466.75, weighed down by Apple. The S&P 500s 10 sectors all ended in negative territory, with technology and financials leading the laggards. Meanwhile, the number of Americans who initially applied for jobless benefits in the week ending Sept. 20 rose 12,000 to a seasonally adjusted 293,000, reported the U.S. Labor Department. Despite the increase, initial claims remained near a pre-recession low, a sign that the U.S. labor market was steadily improving. • US TREASURIES — Long-dated U.S. Treasuries yields fell to their lowest in over two weeks on Thursday after weak U.S. durable goods orders and services sector growth cast doubt on the strength of the U.S. economy and fueled safe-haven bids. Benchmark U.S. 10-year Treasury notes were last up 12/32 in price to yield 2.52 percent, from a yield of 2.57 percent late Wednesday. • FOREX — The dollar advanced against most major currencies on Thursday and it rose versus the euro as the Federal Reserve is expected to raise interest rate in 2015 while the European Central Bank may take more stimulus measures. In late New York trading, the euro slipped to 1.2747 dollars from 1.2781 dollars in the previous session. The greenback bought 108.69 Japanese yen, lower than 108.99 yen of the previous session. • GOLD — Gold futures on the COMEX division of the New York Mercantile Exchange rose on a sharp drop in the U.S. equities on Thursday. The most active gold contract for December delivery rose 2.4 dollars, or 0.2 percent, to settle at 1,221.9 dollars per ounce. • OIL — U.S. crude prices fell Thursday as weak U.S. economic data outweighed geopolitical risk in the Middle East. Although battles between the government and rival militants continued in Libya, oil production in the country was affected slightly. Meanwhile, U.S.-led airstrikes against Islamic State militants in Syria targeted oil refineries, fueling geopolitical worries in the area. Light, sweet crude for November slipped 27 cents to settle at 92.53 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for November delivery edged up 5 cents to close at 97 dollars a barrel. • NIKKEI — The Nikkei stock index surged 1.28 percent Thursday to a near seven-year closing high as the U.S. dollars recovery was sparked by Wall Streets overnight rally, sending exporter issues here higher. The Nikkei 225 index added 206.69 points to close at 16,374.14, marking its highest close since November 2007. ==================================== MALAYSIA ==================================== • PALM OIL — Malaysian palm oil futures stretched gains into a third day on Thursday to touch their highest in more than six weeks, buoyed by robust demand and expectations that output would drop this month. In August, Malaysias stocks surged 22 percent from July to 2.05 million tonnes. Exports of Malaysian palm oil products rose 29.6 percent to 1,278,703 tonnes between Sept 01-25, compared with the same period a month before, cargo surveyor Intertek Testing Services reported. Another surveyor Societe Generale de Surveillance said exports for the same period rose 34.6 percent. The benchmark December contract on the Bursa Malaysia Derivatives Exchange climbed to 2,207 ringgit in late Thursday trade - the highest since Aug 11, before settling at 2,198 ringgit ($676) per tonne by the days close - a 2 percent gain. The Malaysian Palm Oil Association forecast palm oil production fell about 12 percent between Sept 01-20, led by a drop in output in peninsular Malaysia. • COMPETING VEGOIL — In competing vegetable oil markets, the U.S. soyoil contract for December rose 1.1 percent in late Asian trade, while the most active January soybean oil contract on the Dalian Commodities Exchange gained 1.7 percent. • FBM KLCI — Bursa Malaysia ended mixed Thursday, reflecting traders indecision over the mixed economic data, with the benchmark FBM KLCI 3.03 points higher. The benchmark index closed at its intra-day high at 1,843.11, after opening at its lowest of 1,835.64 points today. ==================================== CLOSING PRICES FOR US MARKET Thursday, 25 September 2014 ==================================== • DJIA Down 264.26 points at 16,945.80 • NASDAQ Down 88.47 points at 4,466.75 • S&P 500 Down 32.31 points at 1,965.99 • US Soybean Oil (Dec 14) Down -0.02 points at 32.70 dollars per metric ton. • NYMEX Light Sweet Crude Oil (WTI) (Nov 14) Down -0.27 points at 92.53 dollars a barrel. • US COMEX Gold (Dec 14) Up +2.4 points at 1221.9 dollars an ounce. ==================================== CLOSING PRICES FOR CHINA MARKET Thursday, 25 September 2014 ==================================== • DALIAN SOYBEAN (Jan 15) closed up 33 at 4579 • DALIAN SOYBEAN OIL (Jan 15) closed up 98 at 5970 • DALIAN PALM OIL (Jan 15) closed up 106 at 5250 ==================================== CLOSING PRICES FOR MALAYSIA MARKET Thursday, 25 September 2014 ==================================== • FGLD (Sep 14) closed down 0.65 at 126.60 • FGLD (Oct 14) closed down 0.80 at 126.80 • FCPO (December 14) closed up 44 at 2,198 • FKLI (September 14) closed up 7.0 at 1,837.0 • FBM KLCI closed up 3.03 at 1,843.11
Posted on: Fri, 26 Sep 2014 01:56:11 +0000
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