Trader's Highlight

DJI-NEW YORK, Nov 3 (Reuters) - U.S. stocks ended a volatile session modestly higher on Wednesday after the Federal Reserve detailed a plan to breathe new life into the struggling economy.

Both the Dow and Nasdaq closed at levels not seen since 2008 while the S&P ended at a six-month high. The gains were preceded by an erratic session in which equities zigzagged up and down as the Fed announced a plan to buy $600 billion in Treasuries. The size of the plan was greater than had been anticipated but less than many hoped.

The Dow Jones industrial average <.DJI> was up 26.41 points, or 0.24 percent, at 11,215.13. The Standard & Poor's 500 Index <.SPX> was up 4.39 points, or 0.37 percent, at 1,197.96. The Nasdaq Composite Index <.IXIC> was up 6.75 points, or 0.27 percent, at 2,540.27.

NYMEX-NEW YORK, Nov 3 (Reuters) - U.S. crude oil futures rose for
the third straight day on Wednesday, ending at a six-month high, as the Federal Reserve announced a fresh monetary stimulus aimed at bolstering the pace of economic recovery.

The Fed announcement caused the dollar to fall against the euro, helping crude futures hold on to gains in choppy late-session trading.

On the New York Mercantile Exchange, crude for December delivery settled up 79cents, or 0.94 percent, at $84.69 a barrel, the highest settlement since front-month crude closed at $86.19 on May 3.

CBOT-CHICAGO, Nov 3 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.

CBOT-SOYBEANS - November up 3-3/4 cents at $12.27-1/2 per bushel; January up 3-1/2 at $12.37-1/2. Spillover support from gains in corn and from active export sales of U.S. soy, especially to China.

CBOT-SOYOIL - December up 0.27 cent at 49.90 cents per lb. Following soybeans and firm crude oil.

FCPO-KUALA LUMPUR, Nov 3 (Reuters) - Prices of palm oil futures made little headway on Wednesday as some traders said supply concerns were overdone even as strong monsoons hit certain estates in Malaysia.

A steadier U.S. dollar also kept palm oil from going past a 27-month high hit the previous day as investors were cautious on moving into commodities as a safeguard against inflation ahead of a U.S. Federal Reserve policy decision later in the day.

Malaysia's benchmark Jan 2011 crude palm oil futures ended 0.1 percent lower at 3,087 Malaysian ringgit ($1,001) per tonne after briefly revisiting the 3,106 ringgit level hit the day before.

REGIONAL EQUITIES-COLOMBO, Nov 3 (Reuters) - Most Southeast Asian stock markets rose on Wednesday even though many investors were adopting a "wait and see" approach ahead of a decision by the U.S. Federal Reserve on more quantitative easing measures later in the day.

The Philippines <.PSI> hit an all-time high with a 0.9 percent gain, Thailand <.SETI> jumped 0.9 percent to its highest level in over 14 years, and Singapore <.FTSTI> rose 0.6 percent to a 29-month high, while Malaysia <.KLSE> edged up 0.1 percent.

According to Thomson Reuters' StarMine, most Southeast Asian equity markets are trading at a high forward price-to-earnings ratios relative to the all-Asian 13.5, with Indonesia at 15.4, the Philippines at 14.4, then Malaysia and Singapore at 14.

In Singapore, commodity firms Noble Group and Olam International gained over 1.5 percent as investors turned bullish on the commodity sector, driven by expectations they will benefit from traditionally strong year-end demand.