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DJI-NEW YORK, Nov 25 (Reuters) - The Dow and S&P 500 gained on Tuesday on optimism that the Federal Reserve's latest rescue package could revive the sagging housing market and free up consumer lending.

The Dow Jones industrial average <.DJI> gained 36.08 points, or 0.43 percent, to 8,479.47. The Standard & Poor's 500 Index <.SPX> rose 5.58 points, or 0.66 percent, to 857.39. But the Nasdaq Composite Index <.IXIC> shed 7.29 points, or 0.50 percent, to 1,464.73.

Under the Fed's latest plan, the U.S. central bank will buy billions of dollars worth of debt and mortgage-backed securities to increase the flow of credit for mortgages, student loans, car loans and credit cards.

NYMEX-NEW YORK, Nov 25 (Reuters) - U.S. crude oil futures fell almost 7 percent on Tuesday on worries about declining demand after a government report showed the U.S. economy shrank by more than estimated during the third quarter.

On the New York Mercantile Exchange, January crude settled down $3.73, or 6.84 percent, at $50.77 a barrel, after trading from $50.52 to $54.66.

CBOT-SOYBEANS - January down 1 cent at $8.83 per bushel. Choppy day with market underpinned by strength in soymeal. Concerns about dry weather in some soy production areas in South America supportive. Pressured by profit-taking after Monday's rally when soy jumped 5 percent.

U.S. Census Bureau to issue its monthly crush on Wednesday.

CBOT-SOYOIL - December down 0.50 cent at 32.24 cents per lb. Pressured by lower crude oil, as well as meal/oil spreading as the spread corrects some.

FCPO-JAKARTA, Nov 25 (Reuters) - Malaysian palm futures closed up on Tuesday, supported by strong exports data, but were off earlier highs as market players pocketed profits in late trading, traders said.

The benchmark February palm oil contract on the Bursa Malaysia's Derivatives Exchange closed 32 ringgit, or 2.15 percent higher, at 1,520 ringgit ($420) per tonne.

Other traded contracts rose between 28 ringgit and 60 ringgit. The overall volume stood at 9,476 lots of 25 tonnes each.

REGIONAL EQUITIES-KUALA LUMPUR, Nov 25 (Reuters) - South East Asian stock markets rose on Tuesday, led by the Philippines and in line with regional markets, as investors endorsed the U.S. government's rescue of banking giant Citigroup.

But most markets ended off highs, which dealers said indicated that investors were still concerned about more near-term risks, including whether other global lenders are in need of rescue, as well as indicators that continue to signal a rough road ahead for the global economy.

Singapore stocks <.FTSTI> gained 2.03 percent to 1,653.25, while Jakarta <.JKSE> gained 1.12 percent. Kuala Lumpur <.KLSE> underperformed the region, closing 0.56
percent higher at 860.18 points.