Trader's Highlight

DJI-NEW YORK, Oct 16 (Reuters) - U.S. stocks jumped in a late surge on Thursday, as investors snapped up battered stocks a day after Wall Street's worst session since the 1987 crash, while oil slid below $70 a barrel for the first time since August 2007.

Major European stock indexes fell about 5.0 percent and U.S. stocks swung wildly, shedding more than 4.0 percent before midday after a Federal Reserve survey showed U.S. Mid-Atlantic factory activity crashed to an 18-year low in October.

U.S. stocks surged in the last hour of trading, a volatile pattern seen in other recent sessions, as investors snapped up beaten-down shares a day before stock options expire.

The Dow Jones industrial average <.DJI> closed up 401.35 points, or 4.68 percent, at 8,979.26. The Standard & Poor's 500 Index <.SPX> gained 38.59 points, or 4.25 percent, at 946.43. The Nasdaq Composite Index <.IXIC> climbed 89.38 points, or 5.49 percent, at 1,717.71.

NYMEX-NEW YORK, Oct 16 (Reuters) - U.S. crude futures settled more than 6 percent lower on Thursday, ending below $70 a barrel after weekly government inventory data showed crude oil and gasoline supplies rose much higher than expected last week,
reflecting sliding demand.

On the New York Mercantile Exchange, November crude fell $4.69, or 6.29 percent, to settle at $69.85 a barrel,trading from $68.57 -- lowest since $67.07 was struck on June 27, 2007 -- to $74.50.

CBOT-SOYBEANS - November up 9 cents at $8.67 per bushel.

Short covering amid oversold technicals lifted prices as did talk China may be seeking soy. Soy early fell to a 13-1/2 month low on recession worries and spillover pressure from weak outside markets.

CBOT-SOYOIL - December down 0.08 cent at 35.45 cents per lb.
Bouncing from early lows as other markets recovered some amid economic turmoil.

FCPO-JAKARTA, Oct 16 (Reuters) - Malaysian crude palm futures dropped to their lowest in two years on Thursday, tracking sliding crude oil prices and amid worries that an accelerating economic slowdown will cut demand, traders said.

The benchmark January contract on the Bursa Malaysia Derivatives Exchange closed 97 ringgit, or 5.55 percent lower, at 1,651 ringgit ($468) per tonne by the close. The contract earlier fell as low as 1,593 ringgit a tonne, the lowest since Oct. 17, 2006.

REGIONAL EQUITIES-SINGAPORE, Oct 16 (Reuters) - Southeast Asian markets fell on
Thursday, wiping out recent gains as fears over how the global recession will impact earnings took centre stage, with banking shares among the top fallers.

Singapore's benchmark Straits Times index <.FTSTI> tumbled by more than 7 percent intraday but pared losses to close 5.3 percent down. Malaysia <.KLSE>, which has been outperforming the region, fell 3.3 percent to a 2-year low.

The Philippine index <.PSI> fell 5.2 percent, while Vietnam <.VNI> ended three days of gains to fall 3.2 percent.Indonesian shares <.JKSE> also marked a fresh two-year low, falling 4.6 percent, while Thai stocks <.SETI> were down 1.5 percent at 0940 GMT.