DJI-NEW YORK, Oct 13 (Reuters) - Wall Street roared back from its worst week ever with one of its best single days ever on Monday, as governments pledged to pour cash into struggling banks to restore confidence in a rocky global financial system.
The U.S. Federal Reserve, the European Central Bank, the Bank of England and the Swiss National Bank also said they would lend commercial banks as much U.S. dollar liquidity as they needed to ease clogged interbank lending rates. The S&P financial index <.GSPF> shot up 10.23 percent.
The Dow Jones industrial average <.DJI> rose 936.42 points, or 11.08 percent, to 9,387.61, its biggest one-day point gain ever and its biggest percentage gain since March 15, 1933.
The Standard & Poor's 500 Index <.SPX> also notched its best single-day point gain, up 104.13 points, or 11.58 percent, to 1,003.35. The Nasdaq Composite Index <.IXIC> was up 194.74 points, or 11.81 percent, at 1,844.25, its biggest one-day point gain since January 2001.
NYMEX-NEW YORK, Oct 13 (Reuters) - U.S. crude futures rose on Monday, bouncing with global stock markets revived by concerted government actions to stabilize the banking sector.
A stronger euro versus the dollar and a report of less crude going to Europe from Saudi Arabia also provided lift,after demand fears and the global stock market slide last week helped push oil futures to 13-month lows.
On the New York Mercantile Exchange, November crude
CBOT-SOYBEANS - November
Short-covering bounce as global government efforts to pump money into the clogged banking system cool recession fears.Market also rebounding from oversold conditions after 13-month lows and Friday's limit-down close.
NOPA to release September crush data on Tuesday; average trade estimate around 122 million bushels.
CBOT-SOYOIL - October
Following soybeans and crude oil higher after a limit-down close on Friday.
FCPO-JAKARTA, Oct 13 (Reuters) - Malaysian palm oil futures closed 3.5 percent higher on Monday on a rebound, after hitting a 23-month low on Friday, supported by crude oil price rise, some traders said.
A Malaysian government move to raise the annual export quota for crude palm oil by 50 percent, in an attempt to ease surging inventory that has hurt prices, lent some support to the market, dealers said.
The benchmark December contract
REGIONAL EQUITIES-SINGAPORE, Oct 13 (Reuters) - Singapore and Thai stock markets marked record gains Monday on government efforts worldwide to ease the credit crunch and stave off a global recession.
Singapore <.FTSTI> jumped 6.57 percent, its biggest single-day percentage gain ever.
While Thai stocks <.SETI> rose 5.39 percent, its best performance since December 2006.
Malaysian shares <.KLSE>gained 1.8 percent and the Philippine index <.PSI> rose 1 percent but Vietnam <.VNI> slid for a seventh consecutive day, losing 2
percent.
Analysts said the region's markets will continue to track U.S and other Asian shares and much depends on whether tightness in credit markets ease, but recovery might be more tricky for those markets plagued by domestic political uncertainty, such as
Thailand and Malaysia.
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2011 News
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