DJI-NEW YORK, July 23 (Reuters) - U.S. stocks rose on Wednesday as financial shares climbed on hopes lawmakers will approve a rescue plan for mortgage finance companies Fannie Mae and Freddie Mac and as the price of oil fell.The Dow Jones industrial average <.DJI> rose 29.88 points, or 0.26 percent, to 11,632.38, while the Standard & Poor's 500 Index <.SPX> gained 5.11 points, or 0.40 percent, to 1,282.11, a three-week closing high. The Nasdaq Composite Index <.IXIC> was up 21.92 points, or 0.95 percent, at 2,325.88.
NYMEX-NEW YORK, July 23 (Reuters) - U.S. crude oil futures ended at a six-week low on Wednesday, extending losses for a second straight day, as large builds in gasoline and distillate stocks trumped a bigger-than-forecast draw in crude supplies.New front-month September crude settled down $3.98, or 3.1 percent, at $124.44 a barrel, the lowest since the June 4 settlement of $122.30.
CBOT-SOYBEANS - Down 20 to 25-1/2 cents per bushel, with August down 22-1/2 at $13.94-1/4 per bushel.Good U.S. crop weather, strong dollar and falling crude oil weigh on soy prices. Prospects for Argentina to export more soy and soy products following Argentine government decision late last week to scrap a hike in soy export taxes also bearish for U.S. soy.
SOYOIL - Down 1.35 to 1.67 cents per lb, with August down 1.58 at 58.55 cents per lb.
FCPO-KUALA LUMPUR, July 23 (Reuters) - Malaysian crude palm oil futures plummeted nearly 7 percent to hit 8-month lows as profit-taking in crude oil swept through allied vegetable oil markets amid rising global inventory levels.The benchmark October contract on the Bursa Malaysia Derivatives Exchange ended down 225 ringgit at 3,027 ringgit ($934) per tonne, the lowest since December 24.
REGIONAL EQUITIES-Most Southeast Asian stock markets climbed on Wednesday as a further dip in oil prices eased inflation fears.
Singapore's benchmark index <.FTSTI> leapt 3.1 percent to its highest in four weeks, while Malaysia <.KLSE> gained 2.7 percent.The Philippine index <.PSI> added 2.2 percent, Thailand <.SETI>rose 1.7 percent while Jakarta <.JKSE> edged up 0.6 percent.
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