The dollar weakened against the yen on concerns that government borrowing will exacerbate the U.S. budget deficit as it needs to issue more debt to finance its rescue plan to buy bad mortgages from financial institutions.
Negotiations between Congress and U.S. Treasury Secretary Paulson ratcheted up over the weekend after the administration and U.S. congressional leaders began swapping proposals.
On Friday the Dow Jones industrial average <.DJI> closed up 368.75 points, or 3.35 percent, at 11,388.44. The Standard & Poor's 500 Index <.SPX> advanced 48.57 points, or 4.03 percent, to 1,255.08. The Nasdaq Composite Index <.IXIC> shot up 74.80 points, or 3.40 percent, to 2,273.90.
NYMEX-NEW YORK, Sept 19 (Reuters) - U.S. crude oil futures ended more than 6 percent higher on Friday, rising for the third day in a row, on hopes that a comprehensive U.S. government plan can help stabilize battered financial markets.
On the New York Mercantile Exchange, October crude
CBOT-SOYBEANS - November
Rallying on rebound in stock market after U.S. government bailout of financial sector. Soy market seen as oversold and due for a bounce. Improved U.S. crop weather hangs over market.
SOYOIL - October
FCPO-KUALA LUMPUR, Sept 19 (Reuters) - Malaysian crude palm oil futures jumped 3.6 percent on Friday as crude oil prices went through the key $100-a-barrel level, traders said.
The benchmark December contract
REGIONAL EQUITIES-SINGAPORE, Sept 19 (Reuters) - Southeast Asian stocks leapt on Friday as investors turned positive on hopes of a long-term cure for global market turmoil, with financials such as Singapore's DBS
Indonesia <.JKSE> jumped 5.8 percent to its highest in a week. Malaysia <.KLSE> gained 3.4 percent but failed to recoup the week's losses, giving up about 2 percent this week. The Philippine index <.PSI> and Vietnam <.VNI> both swelled 4.7 percent, though Vietnam is still down over 52 percent since the year started.