FKLI related news

NEW YORK—Investors pushed stocks sharply higher, erasing all of July's losses, as investors reacted to strong corporate earnings and continued hopes for central-bank intervention. The Dow Jones Industrial Average rose 103.16 points, or 0.81%, to 12908.70. (Wall Street Journal)

A big rise by Intel after it posted a strong earnings report drove up technology stocks, especially other chip makers. Those companies, plus industrials, were responsible for much of the gains in the market Wednesday. The government reported that builders broke ground last month on the most new homes and apartments in nearly four years. The 6.9 percent jump brought the number of housing starts to the highest since October 2008.

FKLI July contract opened high this morning at 1650 and closed slightly lower at 1648.5.  "The market is lacking clear direction, partly because of the earnings result season. Investors would want to look at some numbers first," says a local analyst. He tips 1650 resistance for the day.

FCPO related news

SINGAPORE, July 17 (Reuters) - Malaysian crude palm oil futures edged down on Tuesday as traders booked profits from the previous day's rally, although losses were limited as persistent hot and dry weather in the United States reduced global oilseeds supply.

Traders are also on the sidelines today ahead of testimony by U.S. Federal Reserve Chairman Ben Bernanke to Congress late Tuesday, a Singapore-based broker says.

Exports to China suffered the steepest decline, although demand is still expected to pick up due to various festivals, starting with the Muslim fasting month of Ramadan this week and with China and India celebrating key holidays from September to November.

On the technicals front, palm oil will retrace to 3,067 ringgit, as it did not break a resistance at 3,168 ringgit, said Reuters market analyst Wang Tao. FCPO October opened slightly lower this morning at 3,117 and reached a low of 3,081 by the second session.

FKLI related news

Coming off a huge gain on Friday, the Dow Jones Industrial Average (INDEX: ^DJI  ) couldn't keep the momentum going, dropping 0.4% today. It was the seventh drop in eight sessions for the Dow. A disappointing retail sales report was the main catalyst for the decline today, as retail sales dropped for a third straight month, down 0.5%, versus analyst expectations for a small increase. Further stoking concerns over the global economy, the IMF cut its forecast for global growth and called on European leaders to do more to deal with the debt crisis.  (Motley Fool)

U.S. retail sales unexpectedly fell for a third month in June amid weak job growth. The 0.5 percent drop exceeded the most pessimistic forecast in a Bloomberg News survey that called for a median 0.2 percent gain.

Growth worldwide will be 3.9 percent next year, less than the 4.1 percent estimate in April, the IMF predicted in an update of its World Economic Outlook.

FCPO related news

FCPO dropped yesterday due to concern over the health of the Chinese economy ahead of the release of its second-quarter growth data Friday as China is a major importer of palm oil.

"Based on USDA overnight data [on soybean yield], FCPO should recover today but Friday's trade may be slow and rangebound as people may sit on sidelines ahead of the weekend," a trading executive in Kuala Lumpur said. The U.S. Department of Agriculture said in a report Wednesday that the country's soybean output would decline due to drought in the Midwest. The USDA cut its yield forecast for the crop to 40.5 bushels per acre from 43.9 bushes an acre.

Analysts expects the trend to reverse, because of the wide price spread of $210 a ton between soyoil and cheaper palm oil, compared with the historical average of $100/ton. Meanwhile, dry weather affecting soybean oil is expected to continue.

FKLI September opened slightly higher this morning at 3,017 and closed the first session higher at 3,030.

FKLI related news

TOKYO (Reuters) - Asian shares and the Australian dollar jumped on Friday after China's second-quarter gross domestic product data landed in line with forecasts.

But market relief could be short-lived as Moody's downgrade of Italy's credit rating to near-junk status just ahead of a bond auction threatens to reinforce fears over Europe's debt crisis.

China's economy grew 7.6 percent in the second quarter from a year earlier, the slowest pace since the January-March quarter of 2009, and in line with market expectations for a 7.6 percent rise. It marks the sixth consecutive quarter of slower growth and compared with an annual growth of 8.1 percent in the first quarter.

U.S. stocks fell Thursday due to losses in the technology sector on concerns about the impact of a faltering global economy on corporate earnings.

The Dow Jones Industrial Average dropped for the sixth straight day by 3.71 points to 12,600.82 points.

Data showed initial claims for state unemployment benefits in the United States dropped to the lowest in four years, but that did little to alleviate concerns that a broader economic slowdown could chip away at corporate profits. Other economic data showed U.S. June import prices fell 2.7 percent, the most in three years, due to a plunge in the cost of imported oil, adding more inflation pressures.

FKLI July opened slightly higher this morning at 1624.5 and was moving upward again around noon. Resistance could be challenged at 1635, given that most technical indicators remain positive. Immediate support could be at 1620.

  

FCPO


Malaysian crude palm oil futures slipped on Tuesday as weak exports signalled consumers might have stocked up well ahead of the Muslim holy month of Ramadan although losses were capped by dry U.S. weather potentially hurting soy output. (Reuters)


However, palm oil is likely to advance in coming weeks because "the heat and drought in the U.S. Midwest aren't going away," an oilseed analyst in Germany said. Furthermore, as the probability of El Nino has increased based on the drop in the Southern Oscillation Index to minus 11.8 per cent recently, a drought in South-East Asia is very likely.  This could be the initial catalyst for the commodity's price rally. Moreover, the Malaysian Palm Oil Board (MPOB) released data yesterday showing a 4.9 per cent drop in stocks from 1.785 million tonnes in May to 1.699 million tonnes in June.


FCPO September opened at 3,141 and dropped to the day's low of 3,080. You can look for opportunity to buy at Support and sell at Resistance.

FKLI

NEW YORK (AP) -- Stocks fell for the fourth straight day Tuesday following a profit slump of technology companies and a steep decline in oil prices, which sent energy stocks sharply lower. (Associated Press)

Dow Jones dropped 83.17 points while Chinese trade data revealed that import growth fell in half in June from May, signaling that its economy may be slowing more than expected.

FKLI July opened this morning at 1626.5 and reached a record high of 1636.5.

Technically,upside potential on index futures remain high as market can still go up even though there was some Bearish signals along the way. With no sign of weakness yet, traders are advised to hold their Longed positions and for those who missed out their entry, try to find the chances to go Long instead of Short.