DJI-NEW YORK, Sept 18 -Wall Street had its best day in six years on Thursday as news the government is considering a more comprehensive solution to the financial crisis than the current piecemeal approach spurred a furious late rally.
Responding to the week's gut-wrenching upheaval of the financial system, U.S. Treasury Secretary Henry Paulson has been shopping around a proposal to congressional lawmakers that would create an entity to deal with the billions of dollars of bad debt still clogging the financial system, a congressional aide said.
The Dow Jones industrial average jumped 410.03 points, or 3.86 percent, to 11,019.69, while the Standard & Poor's 500 Index climbed 50.12 points, or 4.33 percent, to 1,206.51.
NYMEX-NEW YORK, Sept 16 - U.S. crude oil futures ended nearly 5 percent lower on Tuesday, down for the second day in a row, as investors continued to seek safer havens amid continued turmoil in global financial markets that's seen further
undermining fuel demand.
On the New York Mercantile Exchange, October crude settled down $4.56, or 4.76 percent, at $91.15 a barrel, the lowest since Feb. 8, after trading from $90.51, also the lowest since that date, to $94.32.
CBOT-SOYBEANS - November down 23 cents at $11.16 per bushel, January down 23-1/2 at $11.29-3/4.
Retreating as crude oil turns lower and financial sector turmoil sparks long liquidation. Macroeconomic worries keeping fundamental supply/demand concerns on the sidelines.
SOYOIL - October up 0.47 cent at 44.44 cents per lb. Fund buying lifted prices as Malaysian palm ended up overnight.
PALM-KUALA LUMPUR, Sept 18 - Malaysian crude palm oil futures surged 7.1 percent on Thursday after nearly breaking a key resistance level, once cash and futures trade picked up on strength in crude oil markets, traders said.
The strong gains snapped three straight days of declines, which were earlier prompted by a flight of funds from risky assets and news of defaults and deferments from top Asian counsumers.
The benchmark December contract settled up as much as 145 ringgit to 2,185 ringgit ($631) after swinging from a low of 2,020 ringgit.
REGIONAL EQUITIES-SINGAPORE, Sept 18 - Major Southeast Asian markets recovered strongly from sharp falls on Thursday as fears that more U.S. banks may go under subsided and European stocks gained, though most still ended the day in negative territory.
European equities turned higher, halting a global equity selloff, after leading central banks unveiled concerted action to ease acute money market stress.
Banks and plantation stocks led gainers in a technical rebound and as palm
oil prices rose in tandem with crude oil.
Singapore fell by over 4 percent to nearly touch 2,300, before rebounding to close flat when banks turned higher and planters soared.
Indonesia dropped by over 3 percent but regained on banks and resources to close 1 percent higher, while Thailand managed to trim losses to 0.8 percent after falling over 5 percent to a 5-year low in early trade.
Malaysia lost 1.1 percent, while the Philippine index and Vietnam, which closed earlier, gave up 4.3 and 4.1 percent respectively.
