Trader's Highlight

DJI-NEW YORK, April 24 (Reuters) - U.S. stocks rallied on Friday as earnings showed companies have weathered the recession and economic data raised hopes the economic cycle may have hit a bottom.

Investors were also undeterred by a government release of a much anticipated concept paper on stress tests for the 19 biggest U.S. financial services companies.

The Dow Jones industrial average <.DJI> added 119.23 points, or 1.50 percent, to 8,076.29. The Standard & Poor's 500 Index <.SPX> rose 14.31 points, or 1.68 percent, to 866.23. The Nasdaq Composite Index <.IXIC> gained 42.08 points, or 2.55 percent, to 1,694.29.

NYMEX-NEW YORK, April 24 (Reuters) - U.S. crude oil futures ended higher on Friday for the fourth day in a row as Wall Street extended gains and as a weaker dollar attracted commodities buyers.

On the New York Mercantile Exchange, June crude settled at $51.55 a barrel, up $1.93, or 3.89 percent, after trading from $49.06 to $51.75. From a week ago, front-month prices were up $1.22, or 2.4 pct. For the year, prices were up $6.95, or 15.6 percent.

CBOT-SOYBEANS - May up 2-1/2 cents at $10.40-1/4 per bushel.

Tight soy stocks, strong exports, weak dollar and higher equities support. Gains limited by profit-taking and consolidation trade after the soy market on Thursday rallied to technical resistance area at 200-day moving averages, then faltered.

Trade expects USDA late on Monday to show U.S. soybean seeding progress 3 percent complete, down from 4 percent average pace.

CBOT-SOYOIL - May up 0.14 cent at 36.34 cents per lb. Firm crude oil and gains in Asian trade palm oil lend support.

FCPO-JAKARTA, April 24 (Reuters) - Malaysian crude palm oil futures edged up to a 34-week high on Friday on expectations that data due out Monday would show good palm oil exports during the first 25 days of April, traders said.

The benchmark July contract on the Bursa Malaysia Derivatives Exchange ended up 5 ringgit, or 0.2 percent, at 2,585 ringgit ($721.46), the strongest closing level since August 29.

The benchmark contract hit an intraday low of 2,535 ringgit and a high of 2,648 ringgit, a level not seen since August 25.

Other traded months rose between 3 and 48 ringgit. <0#KPO:> Overall volume was more than double the usual level at 23,396 lots of 25 tonnes each.
basic charges. [nMAN172576]

REGIONAL EQUITIES-BANGKOK, April 24 (Reuters) - Singapore shares <.FTSTI> fell
on Friday, hurt by a plunge in first-quarter earnings from CapitaLand ,while Thai stocks <.SETI> rose after a 12-day state of emergency was lifted.

Other Southeast Asian markets were mixed. Malaysia <.KLSE> rose for a third day, up 1.43 percent to its highest since Oct. 7, but Indonesia <.JKSE> drifted 0.09 percent to an eight-day low and Vietnam <.VNI> fell 1.68 percent.

The Philippine market <.PSI> closed up 1.7 percent at a six-month high, helped by a jump in Manila Electric Co of 11.8 percent after the regulator said the firm could raise its basic charges.