U.S. crude rises $1 on China data, weak dollar

NEW YORK, Sept 1 (Reuters) - U.S. crude oil futures prices rose $1 on Wednesday as healthy economic data from China, soaring Asian auto sales and a weak dollar helped oil bounce after a more than 3 percent slump in the previous session.

Strong equities helped fuel oil's rise. U.S. stock futures trimmed gains [.N] but were able to stay positive despite data showing private employers unexpectedly cut 10,000 jobs in August.

On the New York Mercantile Exchange, October crude <CLV0> rose 92 cents, or 1.28 percent, to $72.84 a barrel by 8:38 a.m. EDT (1238 GMT), trading from $71.67 to $72.92. (Reporting by Robert Gibbons; Editing by John Picinich)