DJI- NEW YORK, Aug 28 (Reuters) - U.S. stocks ended little changed in another day of scarce activity on Tuesday after mixed economic data gave investors little reason to shift their focus from Federal Reserve Chairman Ben Bernanke's speech on Friday.
The Fed chief is scheduled to address a conference of central bankers in Jackson Hole, Wyoming, and could announce new measures to boost growth. While Bernanke is expected to keep alive expectations for a third round of major bond buying by the Fed, or quantitative easing, he could keep markets guessing about the actual timing.
Volume was among the lightest of the year after Monday's lightest trading in 2012. August is a slow season, and investors mostly stayed on the sidelines, anticipating Bernanke's speech.
"I don't think you can read a lot from what's going on in the market right now," said John Fox, co-manager of the FAM Value Fund, in Cobleskill, New York. "Because there's nothing going on, everyone is waiting for the speech on Friday."
The latest sign of slowing in the global economy added to expectations for more central bank stimulus. Japan cut its assessment of economic growth, citing a deceleration in U.S. and Chinese demand for Japanese exports.
U.S. consumer confidence unexpectedly weakened in August to its lowest in nine months as Americans turned more pessimistic about the short-term outlook, according to the Conference Board.
But in another report, the S&P/Case Shiller composite index of 20 metropolitan areas showed U.S. home prices rose for a fifth consecutive month, a sign of slow improvement in the housing sector. (Full Story)
Among the day's biggest gainers, Lexmark International Inc LXK.N jumped 13.7 percent to $21.62 after it said it would stop making inkjet printers, cut about 1,700 jobs, and focus on its more profitable imaging and software businesses.
The NYSEArca computer hardware index .HWI rose 1.2 percent. Shares of Hewlett Packard HPQ.N, which has a substantial portion of inkjet sales, were down 1.8 percent at $16.90.
The Dow Jones industrial average .DJI was down 21.68 points, or 0.17 percent, at 13,102.99. The Standard & Poor's 500 Index .SPX slipped 1.14 points, or 0.08 percent, at 1,409.30. The Nasdaq Composite Index .IXIC edged down 3.95 points, or 0.13 percent, at 3,077.14.
NYMEX- NEW YORK, Aug 28 (Reuters) - U.S. crude futures rose on Tuesday as Hurricane Isaac approached the U.S. Gulf Coast, forcing companies in the region to close down oil production platforms and refineries.
CBOT SOYBEAN- Aug 28 (Reuters) - Soybean futures on the Chicago Board of Trade ended higher on Tuesday, erasing early losses on news of fresh sales of U.S. soybeans to China and expectations of continued export demand, traders said.
• Soybean futures turned lower at times on long liquidation and profit-taking after Monday's contract highs.
• CBOT soymeal futures followed soybeans higher on concerns about U.S. and global supplies of the high-protein animal feed, while soyoil fell for a second day.
• USDA confirmed sales of 110,000 tonnes of U.S. soybeans to China for delivery in 2012/13. (Full Story)
• Global soybean prices have still not exhausted their upward potential following new highs because supply shortages mean demand will be squeezed in coming months - analysts Oil World. (Full Story)
• China will have to cut its giant soybean imports in coming months because of tighter supplies after drought reduced crops in the United States and South America - Oil World. (Full Story)
• Torrential rain and flooding from Hurricane Isaac will bring relief to a large chunk of drought-stricken cropland but will stall early harvest of corn, soybeans and rice - meteorologist. (Full Story) (Full Story)
• A Farm Futures Magazine survey indicated U.S. farmers would plant less corn and more soybeans in 2013. The survey projected 2013 soybean plantings at 78.05 million acres, up from 76.1 million in 2012. (Full Story)
• USDA late Monday said 8 percent of the U.S. soybean crop was dropping leaves, a sign of maturity, ahead of the five-year average of 4 percent.
FCPO- KUALA LUMPUR, Aug 28 (Reuters) - Malaysian crude palm oil futures slid on Tuesday as investors took profit after the market hit a six-week high the previous session, with traders watching for a big stocks build-up to weigh on prices.
Palm oil, which has lost more than 4 percent this year, is moving in tandem with the U.S. soy complex, where investors have unwound bullspreads after the market recently hit a record as the worst drought in 56 years ravaged crops.
A smaller supply of soybeans to be crushed into edible oil and strong palm oil production in coming months has widened palm's discount to soyoil to more than $250 per tonne.
But palm oil stocks in Malaysia, the world's second-largest producer, are set to rise to more than 2.3 million tonnes, traders said, as production outpaces export growth in the second half of the year.
"I sold off this morning. Palm oil is surviving on borrowed strength of soyoil markets," said a trader with a foreign commodities brokerage.
The benchmark November 2012 contract FCPOc3 on the Bursa Malaysia Derivatives Exchange dropped 2.1 percent to 3,029 ringgit ($970). The previous day, the contract hit 3,122 ringgit, a level last seen on July 17.
Total traded volume stood at 22,029 lots of 25 tonnes each, slightly lower than the usual 25,000 lots.
REGIONAL EQUITY- BANGKOK, Aug 28 (Reuters) - Most Southeast Asian stock markets fell slightly in a lacklustre session on Tuesday as investors trimmed positions in risky assets amid worries about global growth, with Vietnam coming off the day's low as beaten-down bank stocks rebounded after recent sell offs.
The Ho Chi Minh Stock Exchange's VN Index .VNI eased 0.11 percent, falling 1.7 percent at one point, as concerns over banking risks appeared subdued. Military Bank MBB.HM, which was among the actively traded, gained 1.5 percent after a 10.2 percent drop since last Monday.
Vietnamese shares lost a net 12.24 percent over the past six sessions following the arrests of Asia Commercial Bank's ACB.HN top executives that have kept retail investors bearish.
The Philippines .PSI edged up 0.63 percent, reopening after a market holiday. Indonesia .JKSE was down 0.07 percent. Jakarta resumed trading after being halted by technical problems on Monday.
