DJI-NEW YORK, Nov 1 (Reuters) - U.S. stocks jumped on Thursday after encouraging data in the labor market, consumer confidence and manufacturing, an improvement in the economic outlook that led investors to move away from the safe-haven dollar and government debt.
U.S. companies added jobs in October at the fastest pace in eight months, a sign of modest healing in the labor market, while consumer confidence climbed to a more than four-year high in October and growth in U.S. manufacturing picked up modestly.
The Dow and Nasdaq rose more than 1 percent while the broad S&P 500 advanced almost as much. Major stock indexes in Europe also extended gains to also rise about 1 percent after the release of U.S. data.
"Investors took some comfort from the mostly encouraging U.S. jobs reports that suggest that Friday's nonfarm payrolls has a smaller chance of disappointing," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington. "Risk appetite has found some footing."
The Dow Jones industrial average .DJI was up 138.11 points, or 1.05 percent, at 13,234.57. The Standard & Poor's 500 Index .SPX was up 12.44 points, or 0.88 percent, at 1,424.60. The Nasdaq Composite Index .IXIC rose 1.15 percent, or 34.37 points, to 3,011.6.
In Europe, the FTSE Eurofirst .FTEU3 index of top European shares was up 1.0 percent at 1,107.55.
U.S. Treasuries prices slipped slightly from already modestly lower levels following the data releases, while the euro rose against the dollar.
The euro EUR= was up 0.11 percent at $1.2972.
Brent crude oil futures fell to $108 a barrel as investors analyzed the aftermath of super storm Sandy.
The destruction wrought by the storm affected millions of people across the eastern United States and could dampen fuel demand just as the world's largest economy was showing signs of recovery, analysts said.
"Many refineries are still out or with low runs so a build in crude oil inventories is expected next week and a draw on diesel, heating oil with gasoline moving sideways because no cars are moving," said Michael Poulsen, oil analyst at Global Risk Management in Copenhagen.
Brent crude futures slipped 33 cents to $108.37 a barrel, whle U.S. crude future rose 16 cents to $86.40 a barrel.
NYMEX- NEW YORK, Nov 1 (Reuters) - U.S. crude futures rose nearly 1 percent on Thursday as a government report showing that crude oil inventories fell last week and positive economic data combined to support oil prices.
U.S. crude inventories fell 2.05 million barrels, instead of the expected build of 1.5 million barrels, the U.S. Energy Information Administration said in its weekly report on Thursday, delayed a day because of Sandy.
CBOT SOYBEAN- Soybean futures on the Chicago Board of Trade rose for a third day, bolstered by strength in Chinese soy markets tied to encouraging economic data from that country, the world's biggest soy importer.
* Soybeans buoyed by data showing private sector factories in China were at their busiest in eight months in October. Some traders said the data raised prospects for increased demand for soy.
• Most-active May soybean futures on China's Dalian exchange DSAK3 rose 2.2 percent, the contract's biggest one-day rise since July 30, a factor that also buoyed Malaysian palm oil futures.
• Firm U.S. cash markets for soybeans and soymeal lent support.
• Storms are forecast to leave soaked crop areas of southern Brazil in the next few days and return to the center and north, where moisture is needed, forecaster Somar said.
• CBOT reported 571 contracts delivered against November soybean futures, with customer accounts of Rosenthal and R.J. O'Brien the biggest stoppers.
FCPO- KUALA LUMPUR, Nov 1 (Reuters) - Malaysian palm oil futures climbed on Thursday as strong Chinese demand for soybeans fuelled expectations for more edible oil orders in coming weeks.
Signs of strong China demand have been increasing, with economic data on Thursday showing Chinese private sector factories were at their busiest in eight months in October.
Malaysia's palm oil exports last month were at their highest in a year, driven by a steady flow of Chinese orders as well as strong European demand.
Prices of palm oil have dropped 20 percent so far this year mainly thanks to record stocks. Although cheaper palm oil cargoes have spurred demand, production has risen at a faster pace and could lead to record stocks again in October.
"The question is whether exports can override the burden of the production. If demand is sustained or rises higher, at least the stocks won't be so bad. People are very worried," said a trader with a foreign commodities brokerage.
At the close, the benchmark January contract FCPOc3 on the Bursa Malaysia Derivatives Exchange had risen 1.6 percent to 2,537 ringgit ($831) per tonne.
Total traded volumes stood at 33,160 lots of 25 tonnes each, higher than the usual 25,000 lots.
Technicals showed palm oil is still targeting 2,468 ringgit per tonne, as the current fall from 2,615 ringgit is expected to reverse the rebound from the Oct. 3 low of 2,230 ringgit, said Reuters market analyst Wang Tao.
Surging palm oil output from Southeast Asia led to inventory levels in Malaysia, the world's No.2 producer, hitting a record 2.48 million tonnes in September.
Traders expected October end stocks to reach about 2.6-2.7 million tonnes given that production last month would have been a seasonal peak.
In a bullish sign for palm oil, Brent crude hovered around $108.50 a barrel on Thursday as investors focused on concerns that storm Sandy's rampage across the U.S. East Coast could reduce fuel demand.
In other vegetable oil markets, U.S. soyoil for December delivery BOZ2 inched up 0.8 percent in late Asian trade on China demand hopes.
The most-active May 2013 soybean oil contract DBYcv1 on the Dalian Commodity Exchange closed 0.9 percent higher.
REGIONAL EQUITY- BANGKOK, Nov 1 (Reuters) - Southeast Asian stocks were mostly lower on Thursday, in line with weakness in other Asian markets, with Singapore led down by cyclical commodity firms such as Noble Group Ltd NOBG.SI and Indonesia falling further from a recent record peak.
Singapore's Straits Times Index .FTSTI fell 0.4 percent to its lowest close since Sept. 11. Jakarta's Composite Index .JKSE extended its losses for a second session, down 0.3 percent and pulling off the 4,364.60 record finish on Oct. 30.
PT Astra International Tbk ASII.JK, Indonesia's biggest listed company, lost 1.9 percent after it reported higher quarterly profits, but said falling commodity prices could hurt future earnings.
Across the region, investors seeking growth showed a preference for construction-related stocks that could benefit from infrastructure spending by local governments.
Among the actively traded, Thailand's cement firm Siam Cement Pcl SCC.BK gained 4 percent to an all-time closing high of 389 baht and Indonesia's Indocement Tunggal Prakarsa INTP.JK rose 3.5 percent to a record close of 22,150 rupiah.
Bucking the trend, Malaysia's index .KLSE recouped earlier losses, ticking up 0.16 percent at 1,675.69, its new all-time closing high.
0 comments:
Posting Komentar