DJI-NEW YORK, July 30 (Reuters) - The Dow industrials and S&P 500 rose on Wednesday as a surprising increase in private-sector employment and central bank efforts to boost liquidity in stormy financial markets offset a surge in oil prices.The Dow Jones industrial average <.DJI> shot up 186.13 points, or 1.63 percent, to 11,583.69. The Standard & Poor's 500 Index <.SPX> advanced 21.06 points, or 1.67 percent, to 1,284.26. The Nasdaq Composite Index <.IXIC> gained 10.10 points, or 0.44 percent, to 2,329.72.
NYMEX-NEW YORK, July 30 (Reuters) - U.S. crude oil futures ended up more than $4, of nearly 4 percent, on Wednesday, rallying on data showing a surprise drawdown in gasoline stocks last week. September crude settled up $4.58, or 3.75 percent, at $126.77 a barrel, trading $120.80 to $126.79.
CBOT-SOYBEANS - August up 9-3/4 cents at $13.94 per bushel,new-crop November up 14 at $14.05.Led higher by rally in corn and crude oil. November 2009 contract rallying on news USDA will not allow farmers to withdraw land from the CRP without a penalty.
SOYOIL - August up 0.43 cent at 58.26 cents per lb.Following soybeans and gains in crude oil.
FCPO-KUALA LUMPUR (Dow Jones)--Crude palm oil futures on Malaysia's derivatives
exchange ended higher Wednesday, erasing intraday losses on likely rise in exports, trade participants said.The benchmark October contract on Bursa Malaysia Derivatives ended MYR23
higher at MYR2,992 per ton, off the intraday low of MYR2,909/ton.
REGIONAL EQUITIES-July 30 (Reuters) - Most Southeast Asian markets edged up on Wednesday as credit crunch fears receded and financials gained.
Malaysia's top lender Maybank jumped 4.6 percent after the central bank blocked plans to buy a controlling stake in Bank Internasional Indonesia, a purchase investors had viewed as too costly.
Global equities rose as oil hovered under $122 a barrel and as investors reassessed Merrill Lynch's $5.7 billion writedown and share sale as a possible turning point in the credit crisis.
Among gainers, Singapore <.FTSTI> rose 1.4 percent on financials, Malaysia <.KLSE> gained 0.8 percent on banks, while the Philippine index <.PSI> jumped 2.3 percent on gains in banks
and telecom firms.
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