take action.
Markets shot higher around 3 p.m. when NBC news reported that Timothy Geithner, president of the Federal Reserve Bank of New York, would be nominated as U.S. Treasury secretary, driving the Dow and the S&P up more than 6 percent.
The Dow Jones industrial average <.DJI> jumped 494.13 points, or 6.54 percent, to 8,046.42. The Standard & Poor's 500 Index <.SPX> shot up 47.59 points, or 6.32 percent, at 800.03. The Nasdaq Composite Index <.IXIC> climbed 68.23 points, or
5.18 percent, to 1,384.35.
NYMEX-NEW YORK, Nov 21 (Reuters) - U.S. crude futures ended higher on Friday, rebounding from 3-1/2 year lows hit on Thursday, as they tracked rising U.S. equities and refined product futures surged after heavy losses the day before.
On the New York Mercantile Exchange, new front-month January crude
CBOT-SOYBEANS - January
Dry soils force Argentine farmers to halt soy sowing this week in many parts of the farming belt, the Agriculture Secretariat said.
CBOT-SOYOIL - December
China soyoil seen strong next week amid robust demand; more imports arrive for reserves
FCPO-KUALA LUMPUR, Nov 21 (Reuters) - Asian vegetable oil markets clawed back some losses on Friday as oil prices rose towards $50 a barrel but fears that a deepening global recession was eating into food and fuel demand kept investors cautious.
Malaysian crude palm oil futures <0#KPO:> ended slightly lower after falling sharply while soyoil contracts <0#DBY:> on Dalian Commodity Exchange settled down 2.1 percent.
The benchmark February palm contract
REGIONAL EQUITIES-BANGKOK, Nov 21 (Reuters) - Southeast Asian stock markets ended mixed on Friday, with Singapore climbing nearly three percent on buying of financials such as UOB and DBS Group in reaction to a government stimulus package.
Singapore's benchmark Straits Times Index <.FTSTI> closed up 2.98 percent, snapping four days of falls.Other Asian markets rebounded from a five-year low on Friday
as a variety of rumours, such as China cutting interest rates, prompted investors to cover short positions before the weekend.
Malaysian shares <.KLSE> ended a three-day losing streak to inch up 0.18 percent. Thai shares <.SETI> gained 0.9 percent. Indonesian shares <.JKSE> drifted 0.75 percent lower, recovering from a 4.5 percent fall earlier, after the central
bank pledged to respect the free movement of capital.