But the advance of over 4 percent in both the Dow and S&P came on the thinnest daily volume in nearly a month, signaling investors remain skittish about diving back into stocks after weeks of punishing volatility.
The Dow Jones industrial average <.DJI> jumped 413.21 points, or 4.67 percent, to 9,265.43, while the Standard & Poor's 500 Index <.SPX> climbed 44.85 points, or 4.77 percent, to 985.40. The Nasdaq Composite Index <.IXIC> shot up 58.74 points, or 3.43 percent, at 1,770.03.
NYMEX-NEW YORK, Oct 20 (Reuters) - U.S. crude futures ended more than $2 higher on Monday, with expectations OPEC will cut output at its Friday meeting.
On the New York Mercantile Exchange, crude settled up $2.40, or 3.34 percent, at $74.25 a barrel, trading from $71.77 to $76.12. The contract expires on Tuesday.
CBOT-SOYBEANS - November
Led by gains in crude oil and U.S. financial markets, plus news that China was setting up a national soybean reserve. Added support from an expected slowdown in U.S. harvest progress due to wet and cool weather.
CBOT-SOYOIL - December
FCPO-KUALA LUMPUR, Oct 20 (Reuters) - Asian vegetable oil markets gained on Monday as investors took cues from higher crude oil prices while governments and commodity cartels looked towards stabilising global markets.
Malaysian palm soared 2.6 percent while some Dalian soyoil contracts <0#DBY:> hit limit up and Chicago soyoil <0#BO:> jumped 3.8 percent during Asian hours -- recovering from losses last week after fears of a recession sparked a sell-off.
REGIONAL EQUITIES-SINGAPORE, Oct 20 (Reuters) - Most Southeast Asian stock markets rose on Monday on hopes that frozen credit markets are slowly thawing, and as investors picked up battered blue chips
Singapore <.FTSTI> led gains, rising 3.2 percent aided by property stocks, Indonesia <.JKSE> gained 2 percent on telcos, while the Thai index <.SETI> was 0.9 percent higher in late trade on energy and banks.
Malaysia <.KLSE> edged 0.5 percent higher, but the Philippine index <.PSI> gave up 1.7 percent and Vietnamese shares <.VNI> declined 3.1 percent on worries over bleaker economic conditions.
