DJI-NEW YORK, Nov 30 - Wall Street may struggle this week to build on its best weekly performance in almost 30 years as investors grapple with a raft of economic data, including the November jobs report, that will likely provide more evidence of a deep economic downturn.
This week, investors will keenly watch retail sales to see if consumers opened their wallets and began buying gifts on Black Friday, as the day after Thanksgiving is known. It's the traditional start of the holiday shopping season and usually one of the year's biggest shopping days.
But this time, holiday sales forecasts are grim as the end of easy credit and rising unemployment have made consumers more frugal.
The Dow Jones industrial average shot up 102.43 points, or 1.17 percent, to 8,829.04.
NYMEX-NEW YORK, Nov 28 - U.S. crude oil futures ended flat Friday, recouping all but one cent of the session losses, as a late signal from some OPEC delegates that the group may still cut production at its Cairo meeting this weekend provoked a late bout of short-covering.
On the New York Mercantile Exchange, January crude settled off 1 cent at $54.43 a barrel after trading from $51.12 to $54.69. In post-settlement trade, it rose further to $55.98. It settled Wednesday up $3.67 or 7.23 percent at $54.44.
CBOT SOYBEANS - January down 3 cents at $8.83 per bushel.
Pressure from firm dollar, weak crude oil and rainfall in Argentina that has improved crop prospects. Short-covering and positioning moved the market above the day's lows by the close.
CBOT SOYOIL - December
Late short-covering and positioning moved soyoil to a firm close.
FCPO - JAKARTA, Nov 28 - Malaysian palm oil futures snapped a four-day rally to finish lower on Friday, as investors took profits and as weaker crude prices oil weighed on sentiment, traders said.
The benchmark February palm oil contract on the Bursa Malaysia's Derivatives Exchange closed down 28 ringgit, or 1.69 percent, to 1,632 ringgit ($451) per tonne, coming off a high of 1,692 ringgit.
REGIONAL EQUITIES - BANGKOK, Nov 28 - Most Southeast Asian stock markets were higher on Friday, with Vietnam rebounding from a three-year low, but Malaysia fell as investors dumped Genting shares after brokers cut their target price.
Relief buying was again seen after China's latest stimulus measures, analysts said, but most markets ended off their highs and trade was thin across the region after the U.S. Thanksgiving holiday.
Singapore's benchmark Straits Times Index was up 1.3 percent, helped by late buying of financials and a 7.1 percent rise in Allianz SE.
In Kuala Lumpur, the main stock index shed 0.44 percent, with Resort World Bhd down 4.1 percent and power-to-gaming firm Genting Bhd off over 8 percent at
4.08 ringgit.
Vietnamese shares snapped a two-day losing streak, rising 3.69 percent, coming off Thursday's three-year low. Gainers included Tu Liem Urban Development Co up 5
percent.
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2011 News
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