Palm | Kelapa Sawit

DJI-NEW YORK, Nov 24 (Reuters) - Wall Street rallied as U.S. stock investors put aside worries about swirling global problems on Wednesday, turning to improvement in the labor market and signs consumers are ready to open their wallets ahead of the biggest shopping day of the year.

New claims for unemployment benefits hit their lowest level in more than two years last week while consumer spending rose for a fourth straight month in October, suggesting the economy is nearing a self-sustaining recovery.

The Dow Jones industrial average <.DJI> jumped 150.91 points, or 1.37 percent, to 11,187.28. The Standard & Poor's 500 Index <.SPX> rose 17.62 points, or 1.49 percent, to 1,198.35. The Nasdaq Composite Index <.IXIC> gained 48.17 points, or 1.93percent, to 2,543.12.

NYMEX-NEW YORK, Nov 24 (Reuters) - Oil prices rose more than 3 percent on Wednesday, lifted by data that suggested economic recovery is improving and by pre-Thanksgiving holiday short covering.

While U.S. crude inventories rose last week against expectations they would fall, the rise in the government's weekly inventory report was less than the jump industry reported on Tuesday, leaving brokers and analysts relieved.

On the New York Mercantile Exchange, January crude rose $2.61, or 3.21 percent, to settle at $83.86 a barrel, trading from $80.97 to $84.25. The day's peak was reached in post-settlement data.

CBOT-CHICAGO, Nov 24 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.

CBOT-SOYBEANS - January up 16 cents per bushel at $12.55. Brisk demand for cash soy including news of a huge sale of U.S. soy to China and support from concerns about dry weather in portions of South America's crop region. Also support from a rebound in corn futures and a technical bounce after the recent slide in prices.

CBOT-SOYOIL - December up 1.02 cents per lb at 50.24. Spillover support from higher soybeans and supportive U.S. Census Bureau crush report.

FCPO-KUALA LUMPUR, Nov 24 (Reuters) - Malaysian palm oil futures rebounded from three-week lows on Wednesday on the back of a firmer overseas soy complex and expectations of strong overseas demand.

U.S. soy <0#S:> and soyoil futures <0#BO:> rose during Asian trading hours, driven by strong commercial buying and output pressure due to drier weather in Latin America.

The benchmark Feb. 2011 crude palm oil contract jumped as much as 3 percent earlier in the day, before paring some gains to close trade at 3,168 ringgit ($1,013). Overall traded volume was 7,200 lots of 25 tonnes each, compared to the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, Nov 24 (Reuters) - Most Southeast Asian stock markets regained lost ground on Wednesday a day after sell-offs triggered by Korean tension.

Singapore <.FTSTI> finished up 0.34 percent, reversing a 2 percent drop to a three-week low on Tuesday, as investors built up positions along with recovering Asian bourses, while Malaysia <.KLSE> gained its lost ground to end nearly unchanged.

Among gainers in the region, Singapore's casino operator Genting Singapore rose as much as 3 percent on bargain hunting after its recent sell-off made its valuation more attractive while Malaysian financial firm CIMB Group Holdings rose 0.4 percent.