Trader's Highlight

DJI-NEW YORK, Sept 10 (Reuters) - A broad relief rally swept Wall Street on Wednesday as the U.S. dollar scaled a new one-year peak and oil prices fell despite a surprise decision by OPEC to cut production.

Weak demand and the strong dollar helped oil slide to fresh five-month lows just above $100 a barrel. The Organization of Petroleum Exporting Countries said after a meeting in Vienna it would cut daily output by about 520,000 barrels.

The Dow Jones industrial average <.DJI> closed up 38.19 points, or 0.34 percent, at 11,268.92. The Standard & Poor's 500 Index <.SPX> rose 7.53 points, or 0.61 percent, at 1,232.04. The Nasdaq Composite Index <.IXIC> gained 18.89 points, or 0.85 percent, at 2,228.70.

NYMEX-NEW YORK, Sept 10 (Reuters) - U.S. crude oil futures settled lower on Wednesday after a volatile trading session, hit by a stronger dollar and government data showing crude oil stocks building up in the U.S. Gulf Coast refining region after Hurricane Gustav crippled several plants last week.

The increase in crude inventories in the Gulf Coast region offset concerns over a larger-than-expected nationwide drawdown, dealers said.

NYMEX October WTI futures settled at $102.58 a barrel, down 68 cents, after trading between $101.36 and $104.97 a barrel.

CBOT-SOYBEANS - September down 27-1/2 cents at $11.81-1/2 per bushel, November down 23 at $11.78.Pressured by benign U.S. crop weather and strength in the
dollar. Lack of frost threat weighed on soy as did downturn in crude oil.

SOYOIL - September down 0.49 at 47.69 cents per lb.Following declines in soybeans and crude oil.

USDA will release new crop production estimates on Friday. Despite a slow start to the growing season, USDA forecast in August a corn crop of 12.288 billion bushels, the second-largest on record.

FCPO-JAKARTA, Sept 10 (Reuters) - Malaysian crude palm oil futures dropped more than 1 percent on Wednesday following news of a fall in exports during the first 10 days of this month, dealers said.

The benchmark November crude palm oil contract on the Bursa Malaysia Derivatives Exchange ended down 25 ringgit, or 1.06 percent, at 2,329 ringgit ($673) a tonne.

REGIONAL EQUITIES-SINGAPORE, Sept 10 (Reuters) - Southeast Asian stock markets fell on Wednesday on fresh worries about slowing global demand,the health of U.S. banks and sliding commodity prices.

World stocks resumed their downtrend as worries over the fate of U.S. investment bank Lehman Brothers grew ahead of its quarterly results announcement on Wednesday.

Malaysia shed 0.6 percent to hit a 20-month low six days ahead of a deadline set by opposition leader Anwar Ibrahim to topple the ruling coalition.

Singapore's benchmark index fell 1.9 percent, while Thailand slid 1.2 percent on weak bank shares. Vietnam slid a fourth straight session, by 2.1 percent, to a
3-week low, while the Philippine index shed 0.4 percent.