STOCKS NEWS US-Huge June open interest sits at SPX 900 level

Stocks on the move [HOT-RTRS]

Real-time Equity news [U][E] [RESF/US]

For U.S. stock market report double-click [.N]
1053 ET 18June2009 Huge SPX expiring option open interest sits at 900
------------------------------------------------------------------------------

This Thursday and Friday marks the quarterly expiration and settlement of
June equity options and futures, a convergence known as quadruple witching.
Scott Larison, senior vice president of Compass Point Research & Trading
noticed massive expiring option open interest at the Standard & Poor's 500
index .SPX June 900 strike. Reuters data show that open interest stood at
463,930 contracts combined for puts and calls in that strike. "Dealers or
market makers are generally short the strike meaning they have the most to gain
if the SPX settles and pins at the 900 strike," he said. "Therefore, they will
support the price of the SPX at this level." The last day to trade June SPX
options is today. "Along with the 200-day moving average support of 906, we may
see a market bounce off these levels -- especially given the massive pessimism
that has gathered the past few days," he said.

Reuters Messaging: doris.frankel.reuters.com@reuters.net
1044 ET 18June2009-Carnival soars after results, lifting Royal
------------------------------------------------------------------------------

Shares of Carnival Corp (CCL.N) soared on Thursday, after the company
reported quarterly earnings that beat analysts' expectations, helped by lower
net cruise costs and better-than-anticipated pricing.

For details, see [ID:nN18379172]

The stock gained 6.9 percent to $24.63 while peer company Royal Caribbean
(RCL.N) was up 4.8 percent to $13.14.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1039 ET 18June2009-Caterpillar slides after sales data
------------------------------------------------------------------------------

Caterpillar Inc (CAT.N) shares fell on Thursday after the company said that
retail sales of machines had declined at a faster pace in May. [ID:nN18388033]

The heavy machinery maker said world sales, including Cat Japan, fell 43
percent in the three months ended in May from the prior year versus a 39
percent decline for the three-month period ended in April.

Sales in North America slumped 57 percent, compared with a 51 percent drop
for the three-month period ended in April.

Shares slid 2.4 percent to $33.98 as the top drop on the Dow industrials.

Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
1028 ET 18June2009-Baird downgrades a trio of auto suppliers
------------------------------------------------------------------------------

Robert W. Baird on Thursday downgraded three auto supplier companies,
citing lowered expectations for a potential recovery.

Both Johnson Controls Inc (JCI.N), the third largest North American
supplier and Gentex Corp (GNTX.O) were downgraded from "outperform" to
"neutral," while Harman International Industries Inc (HAR.N) was dropped from
"neutral" to "underperform".

Baird said that it does not expect a return to trend demand for the
industry until 2013.

For details, see [ID:nBNG413925]

Shares of Johnson Controls fell 3.2 percent to $20.30 while Gentex tumbled
8.5 percent to $11.56 and Harman dropped 3.8 percent to $18.51. The Dow Jones
U.S. AutoParts index .DJUSAP was down 1.5 percent to 102.03.

Reuters Messaging: rachel.chang.reuters.com@reuters.net
1016 ET 18June2009-Markets extend gains after data
------------------------------------------------------------------------------

The Dow industrials and the S&P 500 added to gains while the Nasdaq turned
positive on Thursday after a reading of business conditions in the U.S.
Mid-Atlantic region came in much better than expected, suggesting a more stable
manufacturing sector.

The Dow Jones industrial average .DJI rose 0.9 percent to 8,572.65 while
the S&P 500 .SPX gained 1 percent to 919.65 and the Nasdaq .IXIC was up 0.3
percent to 1,812.82.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1014 ET 18June2009-May leading index increase largest in 5 years
------------------------------------------------------------------------------

A forward-looking measure of the U.S. economy in May increased for the
second consecutive month, a private research firm said on Thursday.

The index of leading indicators, which is supposed to forecast economic
trends six to nine months ahead, rose 1.2 percent in May after a revised 1.1
percent increase in April, the New York-based Conference Board said.

The May increase was the largest since a 1.4 percent rise in March 2004.

"The recession is losing steam," said Ken Goldstein, a Conference Board
economist. "Confidence is rebuilding and financial market volatility is
abating."

Wall Street economists had forecast a rise of 0.9 percent after an initial
1.0 percent April increase.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1011 ET 18June2009-Philly Fed factory slump eases in June
------------------------------------------------------------------------------

Manufacturing in the U.S. Mid-Atlantic area contracted in June for the
ninth consecutive month but much less severely than expected and far less than
in the previous month, a regional Federal Reserve survey released on Thursday
showed.

The Philadelphia Federal Reserve Bank said its business activity index rose
sharply to minus 2.2 in June from minus 22.6 in May. That was the highest
reading since September 2008, the report said.

That was well above economists' expectations of minus 17, based on the
median of forecasts among economists polled by Reuters.

For details, see [ID:nN18266955]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net