Continuing weekly U.S. jobless claims remained at their highest level since 1982 in Labor Department data on Wednesday, but investors took some heart from confirmation by the Federal Reserve on Tuesday that it would try to lower home mortgage rates further by buying mortgage bonds in 2009.
Interest rates on U.S. 30-year fixed-rate mortgages dropped for a ninth consecutive week, reaching their lowest level in 37 years, with the 30-year fixed rate at 5.10 percent, according to home funding company Freddie Mac on Wednesday.
The Dow Jones industrial average <.DJI> ended up 108.00 points or 1.25 percent, at 8,776.39. The Standard & Poor's 500 Index <.SPX> finished up 12.61 points, or 1.42 percent, at 903.25. The Nasdaq Composite Index <.IXIC> closed up 26.33 points, or 1.70 percent, at 1,577.03.
NYMEX-NEW YORK, Dec 31 (Reuters) - U.S. crude oil futures rose sharply on Wednesday as expiring January heating oil and gasoline futures surged, a Middle East cease fire failed and a dispute between Russia and Ukraine helped boost oil.
On the New York Mercantile Exchange, February crude
CBOT-SOYBEANS - January
Rallies following rebound in crude oil prices. Dry weather in South America hindering crop development also supportive.
CBOT-SOYOIL - January
FCPO-JAKARTA, Dec 31 (Reuters) - Malaysian palm futures dropped 44.43 percent in 2008, the biggest yearly decline ever, but could see a continuation of their recent rebound at the start of 2009 as exports pick up, traders said.
The benchmark March palm oil contract
Other contracts were mostly higher, rising between 9 ringgit and 22 ringgit. The overall volume was thin at 9,682 lots of 25 tonnes each.
