Trader's Highlight

DJI-NEW YORK, June 8 (Reuters) - U.S. stocks extended losses for the sixth straight day on Wednesday as investors worried that a slowing economy could deepen the market's retreat.

The latest evidence of a slowdown came in the Federal Reserve's Beige Book, which gives an anecdotal report on the economy. It reinforced Fed chief Ben Bernanke's bearish assessment on growth delivered late on Tuesday. The Dow, which on May 2nd was up 10.6 percent for the year when it hit its 2011 closing high, is now up just 4.1 percent.

The S&P 500, which had climbed as much as 8.2 percent for the year at its 2011 closing high on May 2nd, is now up just 1.7 percent. And the Nasdaq, which on May 2nd was up 8 percent for the year when it set its 2011 closing high, is now up only 0.9 percent.

NYMEX-NEW YORK, June 8 (Reuters) - U.S. crude futures ended higher on Wednesday following OPEC's failure to agree on an output hike, coupled with inventory data that showed crude oil stocks fell sharply last week.

OPEC talks in Vienna broke down when ministers were unable to reach a consensus on boosting production to meet rising global demand and curb fuel price inflation.

On the New York Mercantile Exchange, July crude CLN1 rose $1.65, or 1.67 percent, to settle at $100.74 a barrel, trading from $98.02 to $101.89.

CBOT-SOYBEANS-U.S. soybean futures on the Chicago Board of Trade closed higher on spillover strength from the corn and soymeal markets, traders said.

Soymeal spreads remained strong, with the spot July contract gaining against the August on expectations that flooding along the Missouri River could force some crushing plants in Iowa and Missouri to close.

FCPO-KUALA LUMPUR/JAKARTA, June 8 (Reuters) - Malaysian palm oil dropped to a three-week low on Wednesday as investors adjusted positions on weak technicals, lacklustre external markets and expectations of high stocks.

Stocks in Malaysia are seen rising to a 16-month high in May as production jumps, although traders are waiting to see if cargo surveyors show strong demand from buyers eager to restock on current price correction.

The benchmark August crude palm oil contract KPOc3 on the Bursa Malaysia Derivatives Exchange, fell as much as 1.2 percent to 3,313 Malaysian ringgit ($1,102) a tonne, a level unseen since May 18, before closing at 3,316 ringgit.

Overall traded volume stood at 11,605 lots of 25 tonnes each, versus 11,972 lots on Tuesday.

REGIONAL EQUITIES-COLOMBO, June 8 (Reuters) - Thailand's stock market closed nearly 2percent weaker on Wednesday and touched an 11-week low as offshore investors dumped big caps after foreign brokers downgraded the market on concern over valuations and an upcoming election.

Continued foreign selling in big cap banking and energy shares dragged the index down after foreign brokers including Goldman Sachs downgraded Thai stocks, analysts said.

The Bangkok .SETI market recorded its sixth straight fall to its lowest close since March 18. At one point it was down 2.5 percent.

Malaysia .KLSE closed a tad weaker with $17.3 million in outflows and Vietnam .VNI was down 0.9 percent.