Palm | Kelapa Sawit

DJI-NEW YORK, Jan 29 (Reuters) - U.S. stocks tumbled on Thursday, derailing a four-day surge in the S&P and Nasdaq as poor earnings, coupled with a fresh wave of bleak labor market and housing data, heightened fears of a deep recession.

The Dow Jones industrial average <.DJI> slid 226.44 points, or 2.70 percent, to 8,149.01. The Standard & Poor's 500 Index <.SPX> tumbled 28.95 points, or 3.31 percent, to 845.14. The Nasdaq Composite Index <.IXIC> dropped 50.50 points, or 3.24 percent, to 1,507.84.

Before Friday's opening bell, investors will scrutinize the government's first snapshot of fourth-quarter gross domestic product, which measures all goods and services produced within U.S. borders.

The GDP report, due at 8:30 a.m. (1330 GMT), is expected to show the economy contracted by at least a 5.4 percent annual rate in the fourth quarter -- the worst since the first quarter of 1982.

NYMEX-NEW YORK, Jan 29 (Reuters) - U.S. crude oil futures ended with pared losses on Thursday, helped by a rally on gasoline futures amid concerns about a potential strike among unionized U.S. refinery workers, who are in the thick of contract negotiations, analysts said.

On the New York Mercantile Exchange, March crude settled down 72 cents, or 1.71 percent, at $41.44 a barrel, after trading from $40.18 to $42.32.

CBOT-SOYBEANS - March down 12 cents to $9.70-1/2 a bushel; May down 12-1/4 at $9.77-3/4.

Improved crop weather in Argentina triggering sales. Prices keep within recent ranges, failing to break out of recent highs.

Census Bureau said U.S. December soy crush 141.37 million bushels, above average estimate for 140.8 million.

CBOT-SOYOIL - March down 0.54 cent per lb to 32.37 cents. Pressure from drop in soy and sagging crude price.

Census Bureau said U.S. soyoil stocks at the end of Dec. 2.657 billion lbs, below average estimate for 2.7 billion.

FCPO-KUALA LUMPUR, Jan 29 (Reuters) - Malaysian crude palm oil fell 2.1 percent to more than three-week lows on Thursday, pressured by weak crude and slowing shipments, although traders said drought hurting South American soyoil could spur demand.

The benchmark April contract on the Bursa Malaysia Derivatives Exchange closed down 37 ringgit to stand at 1,745 ringgit ($484.8), a level unseen since Jan. 5

Other traded contracts fell between 17 and 41 ringgit <0#KPO:>. Overall volume slumped to 6,982 lots of 25 tonnes each from about 10,000 lots as many traders were still away for Lunar New Year following market closures on Monday and Tuesday.

REGIONAL EQUITIES-Asian stocks elsewhere climbed as investors took heart from
the U.S. Congress making headway on a $825 billion stimulus spending package and other efforts to stem the financial crisis.

Malaysian shares <.KLSE> rose 0.4 percent, Indonesia <.JKSE> was up 0.24 percent although Manila <.PSI> was down 0.5 percent. Singapore shares <.FTSTI> ended flat after a 4.8 percent gain
on Wednesday.