DJI-NEW YORK, Sept 13 (Reuters) - U.S. stocks gained on Tuesday as investors bought shares beaten down in recent weeks and bet European leaders would take action soon to ease the Greek debt crisis.
Worries the euro zone crisis could tip the global economy into another recession have pummeled stocks, though the selling has reached a level that some argue a Greek default is priced in to the market.
Investors appeared to be pinning hopes on progress being made during a conference call planned between French President Nicolas Sarkozy, German Chancellor Angela Merkel and Greek Prime Minister George Papandreou on Wednesday.
The Dow Jones industrial average .DJI was up 44.73 points, or 0.40 percent, at 11,105.85. The Standard & Poor's 500 Index .SPX was up 10.60 points, or 0.91 percent, at 1,172.87. The Nasdaq Composite Index .IXIC was up 37.06 points, or 1.49 percent, at 2,532.15.
NYMEX-NEW YORK, Sept 13 (Reuters) - U.S. crude oil futures rose on Tuesday, ending at the highest level in five weeks as the dollar weakened and forecasters called for weekly data to show a drawdown in crude stocks.
Traders shrugged off a lower oil demand growth forecast from the Paris-based International Energy Agency.
On the New York Mercantile Exchange, crude for October delivery CLV1 settled at $90.21 a barrel, gaining $2.02, or 2.29 percent, after trading between $87.81 and $90.52. It was the highest settlement for front-month crude since Aug. 3, when prices closed at $91.93 CLc1.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell on spillover pressure from corn and wheat, but ended off the day's lows as concerns about a frost threat in the U.S. Midwest underpinned the market, traders said.
A setback in the U.S. dollar .DXY and strength in crude oil also helped to limit declines.
Benchmark November soybean futures SX1 dipped to $13.82, the contract's lowest level since Aug. 22, but pared losses before the closing bell.
FCPO-JAKARTA, Sept 13 (Reuters) - Malaysian palm oil futures retreated on Tuesday from near one-month highs hit the previous day as a better-than-expected production outlook for the U.S. soy crop signalled improving vegetable oil supplies.
The U.S. Department of Agriculture unexpectedly raised its U.S. crop production outlook by 1 percent in a monthly report, despite forecasts for a smaller crop due to hot, dry weather this summer
Benchmark November palm oil FCPOc3 on the Bursa Malaysia Derivatives Exchange fell 1.7 percent to end at 3,019 Malaysian ringgit ($996) per tonne.
Prices the previous day hit a near one-month peak at 3,076 but fell to a near one-week low at 3,012 on Tuesday.
Traded volumes for the November contract stood at 9,867 lots of 25 tonnes each compared with 5,862 lots on Monday.
REGIONAL EQUITIES-BANGKOK, Sept 13 (Reuters) - Most Southeast Asian stock markets retreated on Tuesday, with big-caps and financials giving up early gains as a tentative recovery rally in global stocks lost steam.
Southeast Asia's markets ended near their day's lows as investors cashed in, shadowing losses in Europe as speculation faded over the prospect of China buying Italian bonds.
Late selling pulled Singapore .FTSTI and Thai stocks .SETI down to around three-week lows, with shares in Indonesia .JKSE hovering around the lowest in a week.
Brokers expect further downside near term.
Trading volumes plunged across major markets partly due to holidays in Hong Kong and South Korea. Turnover in the Philippines fell to 0.3 times its monthly average, with volumes of others sliding to around two-thirds the average.
Recently beaten-down blue chips such as energy, food and banks gained in early trade. In general, financial profiles of Southeast Asian firms are strong and the region is widely expected to withstand the global economic slowdown.
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