Trader's Highlight

DJI-NEW YORK, Nov 7 (Reuters) - U.S. stocks rose on Friday as bargain hunters scooped up shares at multiyear lows after a big drop in the October payrolls was less dire than feared.

Stocks pared gains immediately after a news conference by President-Elect Barack Obama on some disappointment that he did not outline any new additional steps to shore up the ailing economy in the near term. But stocks recovered by the close.

The Dow Jones industrial average <.DJI> climbed 248.02 points, or 2.85 percent, to 8,943.81. The Standard & Poor's 500 Index <.SPX> advanced 26.11 points, or 2.89 percent, to 930.99. The Nasdaq Composite Index <.IXIC> shot up 38.70 points, or 2.41 percent, to 1,647.40.

NYMEX-NEW YORK, Nov 7 (Reuters) - U.S. crude oil futures ended with pared gains on Friday, having risen as the dollar weakened, but stymied by economic worries amid a bleak jobs report.

Pre-weekend short-covering after Thursday's dive to a 19-month low on Thursday and U.S. equities were up, helped keep oil futures on the plus side.

On the New York Mercantile Exchange, December crude settled up 27 cents, or 0.44 percent, at $61.04 a barrel, trading from $59.97 to $62.82. The session low took prices below $60 for the first time since March 22, 2007, when prices hit $59.95.

CBOT-SOYBEANS - November up 12-1/4 cents at $9.11-3/4 per bushel. January up 15 cents at $9.21.

Technical bounce. Supported by strong export demand and firm cash markets. USDA expected to lower forecast for 2008 U.S. soybean crop on Monday and ending stocks outlook.

CBOT-SOYOIL - December down 0.27 cent at 33.90 cents per lb.

FCPO-KUALA LUMPUR, Nov 7 (Reuters) - Malaysian crude palm oil futures inched higher on Friday as investors focused on the weaker ringgit against the dollar rather than steep overnight losses in crude oil.

The benchmark January contract on the Bursa Malaysia Derivatives Exchange edged 10 ringgit higher to 1,609 ringgit ($453) per tonne by the end of the afternoon session.

Other traded months rose between 15 and 47 ringgit <0#KPO:>. Overall trade volume slipped to 9,780 lots at 25 tonnes each from the usual 10,000 lots.