REFILE-US STOCKS-Dow, S&nbsp;P rise on oil stocks; financial
ju4 wa4i dia4n zo1ng he2 ba4o da4o :\n  (Refiles to update impact of Bunge deal in paragraph 6)\n* Oil rises despite Saudi Arabia's pledge to pump more\n* Goldman Sachs says sell financials, consumer plays\n* Bunge agrees to buy Corn Products for $4.4 billion\nBy Deborah Jian Lee\nNEW YORK, June 23 (Reuters) - The Dow industrials and the\nS&P 500 edged up on Monday as higher oil prices lifted energy\nshares, but financial companies' outlook kept investors\ncautious and overshadowed news of a $4.4 billion takeover in\nthe agricultural sector.\nExxon Mobil Corp <XOM.N> shares led the Dow and the S&P\n500 advancers with a gain of 2.2 percent to $86.72. U.S.\nfront-month crude <CLc1> rose $2.49 to $137.85 a barrel,\nlifted by supply snags, a strike threat in Nigeria and an\noutput boost by Saudi Arabia seen as too little to limit\nsoaring prices.\nFinancial shares weighed on both the Dow and the S&P after\nGoldman Sachs recommended that its clients sell the sector as\nwell as consumer discretionary stocks due to economic\nconcerns.\nInsurer American International Group <AIG.N> was the top\ndrag on the Dow, with AIG shares down 4.5 percent after\nBarron's newspaper said the stock "will likely be dead money\nfor some time to come," citing the potential for more\naccounting woes ahead.\nThe continued weakness in financial stocks, said Michael\nJames, senior trader at Wedbush Morgan in Los Angeles, is due\nto "the fear that there is more negative news to come from\nfinancials."\nNews that Bunge Ltd <BG.N>, the fertilizer producer and\noilseed processor, agreed to buy Corn Products International\nInc <CPO.N> helped support the market. [ID:nN23450708].\nThe Dow Jones industrial average <.DJI> gained 8.38\npoints, or 0.07 percent, to 11,851.07. The Standard & Poor's\n500 Index <.SPX> added 1.43 points, or 0.11 percent, to\n1,319.36. But the Nasdaq Composite Index <.IXIC> declined 8.89\npoints, or 0.37 percent, to 2,397.20.\nShares of Bank of America Corp <BAC.N> and JPMorgan Chase\n& Co <JPM.N> slid nearly 3 percent. The S&P financial index\n<.GSPF> fell more than 2 percent. Shares of Citigroup fell\nmore than 3 percent.\nAIG shares declined to $30.69 on the New York Stock\nExchange, while Bank of America's stock declined to $26.37,\nJPMorgan shares dropped to $36.82 and Citigroup's shares fell\nto $18.67.\nReflecting the impact of the mortgage crisis on the\nfinancial sector, Citigroup Inc <C.N> plans to cut thousands\nof trading and investment banking jobs this week, a person\nfamiliar with the situation said on Monday. The cuts are part\nof previously reported plans to slash about 10 percent of\nCiti's investment bank division.\nCorn Products <CPO.N> shares jumped 18.1 percent to $50.69\non the NYSE, while Bunge shares sank 10.6 percent to $109.24.\n(Reporting by Deborah Jian Lee; Editing by Jan Paschal)\n((Deborah.Lee@thomsonreuters.com; 1 646 223 6323; Reuters\nMessaging:deborah.lee.reuters.com@reuters.net))\n(Multimedia versions of Reuters Top News are now available\nfor: * 3000 Xtra: visit http://topnews.session.rservices.com\n* BridgeStation: view story .134 For more information on\nTop News: http://topnews.reuters.com))\nKeywords: MARKETS STOCKS