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DJI-NEW YORK, Oct 19 (Reuters) - U.S. stocks fell and the euro edged lower on Wednesday after optimism faded that European leaders will make substantial progress on resolving the euro zone debt crisis at their summit meeting this weekend.

The Federal Reserve's Beige Book report suggested the U.S. ecomomic outlook grew dimmer in September, also sapping sentiment.

The Dow Jones industrial average <.DJI> fell 72.43 points, or 0.63 percent, to end at 11,504.62. The Standard & Poor's 500 Index <.SPX> was down 15.50 points, or 1.26 percent, at 1,209.88. The Nasdaq Composite Index <.IXIC> was down 53.39 points, or 2.01 percent, at 2,604.04.

NYMEX-NEW YORK, Oct 19 (Reuters) - U.S. crude fell more than 2 percent on Wednesday as persistent concerns about Europe's debt problems offset supportive U.S. government inventory data showing crude oil stocks fell sharply last week.

Plans to tackle the euro zone debt crisis have stalled with Paris and Berlin at odds over how to increase the firepower of the region's bailout fund.

On the New York Mercantile Exchange, November crude fell $2.23, or 2.52 percent, to settle at $86.11 a barrel, having swung from $85.87 to $89.51.

CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell 2.1percent, their third straight lower close, as traders took profits by unwinding long soybean/short corn spreads, traders said.

Front-month CBOT soybeans gained more than 71 cents over spot corn last week, driven by bullish soy data in USDA's Oct. 12 supply/demand report and a Goldman Sachs note that predicted soybean prices would out-grain corn.

FCPO-KUALA LUMPUR, Oct 19 (Reuters) - Malaysian palm oil futures bounced on Wednesday on improving sentiment after a news report said European policy makers will increase financial firepower to resolve the region's debt woes.

Although euro zone officials denied the reported agreement to increase the bailout fund by five-fold, global financial markets rose on expectations that a deal was imminent.

Benchmark January palm oil futures on the Bursa Malaysia Derivatives Exchange settled up 2 percent to 2,892 ringgit ($922). The previous day, the contract dropped to 2,817 ringgit -- the lowest since Oct. 11.

Traded volumes stood at 29,646 lots of 25 tonnes each, compared to the usual 25,000 lots as more market players took up positions.

REGIONAL EQUITIES-BANGKOK, Oct 19 (Reuters) - Stocks in Indonesia, Malaysia and the Philippines rose on Wednesday but concerns about the euro zone debt crisis capped gains and helped pull down other markets in Southeast Asia, with weakness in bank stocks further depressing Thailand.

In general, bargain-hunting lent support to the region but trading volume was light and dominated by short-term traders.

Malaysia <.KLSE> and the Philippines <.PSI> gained 0.7 percent and 0.9 percent respectively. Singapore <.FTSTI>, Thailand <.SETI> and Vietnam <.VNI> lost 0.2 percent, 1.5 percent and 0.8 percent respectively.

Singaporean oil rig builder Sembcorp Marine Ltd rose as much as 4.2 percent, lifted by news a subsidiary had won a $100 million contract in Australia. Malaysia's oil and gas services provider Kencana Petroleum Bhd rose 3.7percent.

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