DJI-NEW YORK, Sept 8 (Reuters) - U.S. stocks closed sharply lower on Thursday after Federal Reserve Chairman Ben Bernanke gave no indications of new stimulus measures to boost the flagging economy in a keenly awaited speech.
Investors have been looking to Bernanke, who gave his outlook on the U.S. economy on Thursday, and other policymakers to address a host of concerns from slowing global growth to Europe's debt crisis.
A rise in jobless claims reported earlier in the day underscored the weakness in the U.S. economy and came ahead of a speech by President Barack Obama. Obama is due to speak at 7 p.m. and is expected lay out a plan for creating jobs.
The Dow Jones industrial average .DJI dropped 119.05 points, or 1.04 percent, to 11,295.81. The Standard & Poor's 500 Index .SPX fell 12.72 points, or 1.06 percent, to 1,185.90. The Nasdaq Composite Index .IXIC lost 19.80 points, or 0.78 percent, to 2,529.14.
NYMEX-NEW YORK, Sept 8 (Reuters) - U.S. crude futures edged lower in choppy trading on Thursday as Wall Street fell and the dollar strengthened after the U.S. Federal Reserve Chief failed to outline new steps to spur economic growth in a speech.
Federal Reserve Chairman Ben Bernanke said the U.S. central bank would spare no effort to boost disappointingly weak growth and reduce unemployment, while downplaying concerns about inflation.
On the New York Mercantile Exchange, October crude CLV1 fell 29 cents, or 0.32 percent, to settle at $89.05 a barrel, trading from $88.59 to $90.23.
CBOT-SOYBEANS-Chicago Board of Trade soybean futures fell for a third straight session as the dollar .DXY rallied and traders positioned ahead of a jobs speech by U.S. President Obama later Thursday and USDA's September crop report next week.
A poll indicated that most analysts see the U.S. 2011 soybean crop as larger than 3 billion bushels, a factor that eased worries about supplies.
FCPO-KUALA LUMPUR, Sept 8 (Reuters) - Malaysian palm oil futures fell on Thursday in tandem with other vegetable oil markets as investors booked some profits although the tropical oil's deepening discount to competing soyoil limited losses.
Vegetable oil markets are likely to make little headway ahead of the U.S. Department of Agriculture's supply-demand report on Monday, which will update the agency's crop forecasts.
Hot and dry weather has hurt U.S. soybean yields, making crude palm oil at least $220 cheaper than soyoil that could shift demand to the tropical oil. This could lift the market that has fallen almost a fifth on concerns the euro zone debt could stall global economic growth.
The benchmark November palm oil FCPOc3 on the Bursa Malaysia Derivatives Exchange settled down 0.6 percent to 3,023 ringgit ($1,013.41) per tonne in choppy trade. Exchange volumes stood at 24,744 lots at 25 tonnes each versus the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, Sept 8 (Reuters) - Most Southeast Asian stock markets posted limited gains in light volume on Thursday, led by commodities-related shares, but investors remained wary amid uncertainty over a euro zone debt crisis and the faltering U.S. economy.
Market turnover fell below monthly average for most in the region. Late buying kicked in as global stocks edged up ahead of a European Central Bank meeting seen calling a halt to its rate tightening cycle to support economies.
Singapore's Straits Times Index .FTSTI ended up 0.87 percent at its day's high of 2,856.90, with stocks in Malaysia .KLSE, Indonesia .JKSE and Thailand .SETI posting smaller gains.
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