Trader's Highlight

DJI-NEW YORK, June 7 (Reuters) - U.S. stocks extended a losing streak for a fifth day on Tuesday on mounting concerns about the economy after bearish comments from Federal Reserve Chairman Ben Bernanke.

The market, which started off on a positive note after the S&P 500 hit a two-month low in the previous session, reversed course to turn negative after Bernanke started speaking. He acknowledged a slowdown in the economy, but offered no suggestion the central bank is considering any further monetary stimulus to support growth.

Bernanke also issued a stern warning to lawmakers in Washington who are considering aggressive budget cuts, saying they have the potential to derail the economic recovery.

The Dow Jones industrial average .DJI slipped 19.15 points, or 0.16 percent, to end at 12,070.81. The Standard & Poor's 500 Index .SPX declined 1.23 points, or 0.10 percent, to 1,284.94. The Nasdaq Composite Index .IXIC shed 1.00 point, or 0.04 percent, to finish at 2,701.56.

NYMEX-NEW YORK, June 7 (Reuters) - U.S. crude oil futures ended slightly higher on Tuesday, supported by a surge in gasoline and heating oil futures and a weaker dollar.

The late rise ended an earlier slide brought about by speculation that OPEC would raise production targets at its meeting on Wednesday in Vienna.

CBOT-SOYBEANS-U.S. soybean futures on the Chicago Board of Trade closed higher in a short-covering bounce after Monday's sell-off, with a weak dollar and strength in soymeal lending support, traders said.

FCPO-JAKARTA, June 7 (Reuters) - Malaysian palm oil slipped to a near three-week low on Tuesday as technical selling and weak comparative markets weighed on prices, while investors positioned themselves ahead of a flurry of data due at the end of the week.

The benchmark August crude palm oil contract KPOc3 on the Bursa Malaysia Derivatives Exchange closed 1 percent lower, at 3,354 Malaysian ringgit ($1,116) a tonne. Prices earlier fell to 3,343 ringgit -- its lowest level since May 19.

Overall traded volume stood at 11,972 lots of 25 tonnes each, versus a total of 9,549lots on Monday.

REGIONAL EQUITIES-COLOMBO, June 7 (Reuters) - Major Southeast Asian stock markets closed flat to weaker in thin volume on Tuesday, led by Thailand, which hits its lowest in more than two months as fears over U.S. growth and Europe's debt crisis led investors to cut holdings in the region.

Thailand .SETI fell for the fifth straight session, with net foreign selling of $125.5 million. It shed 1.1 percent but volume continued low at just 0.77 times its 30-day average. Banks led the fall.