Trader's Highlight

DJI-NEW YORK, Nov 13 (Reuters) - U.S. stocks surged on Thursday and broke a three-day losing streak after the S&P 500 and Nasdaq touched new five-year lows earlier in the session, prompting investors to put aside worries about the flagging economy and scoop up wilted shares at fire-sale prices.

The Dow Jones industrial average <.DJI> jumped 552.59 points, or 6.67 percent, to 8,835.25. The Standard & Poor's 500 Index <.SPX> surged 58.99 points, or 6.92 percent, to 911.29. The Nasdaq Composite Index <.IXIC> climbed 97.49 points, or 6.50 percent, to 1,596.70.

NYMEX-NEW YORK, Nov 13 (Reuters) - U.S. crude futures ended more than $2 per barrel higher on Thursday, gaining for the first time in three sessions, as Wall Street rallied on bargain-hunting after three days of sharp losses.

Before the late rally, crude futures were down after U.S. government petroleum inventory data showed that gasoline and distillate stocks rose last week.
On the New York Mercantile Exchange, December crude settled up $2.08, or 3.7 percent, at $58.24 a barrel, trading from $54.67, lowest since prices hit $53.82 on Jan. 30, 2007, to $59.11. It rose further to $59.66 after settlement.

CBOT-SOYBEANS - November up 1-3/4 cents at $8.87 per bushel; January down 1 at $8.94.

Choppy, mixed. Pressure stemmed from fears of a global recession cutting into demand. Some South American farmer hedge selling also contributes to bearish tone, along with corn/soy spreading. Demand from China seen cooling.

National Oilseed Processors Association monthly crushing report set for release on Friday. Analysts expect crush at 144 million bushels.

CBOT-SOYOIL - December up 0.23 cent at 32.81 cents per lb. Turned higher as crude oil rallied.

FCPO-JAKARTA, Nov 13 (Reuters) - Malaysian palm futures closed nearly 4 percent lower on Thursday, but were off lows on short-covering after crude oil recovered some losses, traders said.

The benchmark January contract on the Bursa Malaysia Derivatives Exchange closed 59 ringgit, or 3.83 percent lower, to 1,480 ringgit ($411) per tonne, after having dropped earlier to 1,435 ringgit.
Other traded contracts fell between 38 ringgit and 75 ringgit. The overall volume stood at 13,001 lots of 25 tonnes each.

REGIONAL EQUITIES-Most Asian markets were hurt by uncertainty about the U.S. Treasury's banking rescue plan and signs the global financial crisis was biting deeper in Asia.

Thailand's main stock index <.SETI> closed down 0.51 percent. In Kuala Lumpur, dominant fixed-line operator Telekom Malaysia ended down 0.72 percent after initially falling more than 8 percent after brokers cut the stock's target
price following a third-quarter net loss.