Trader's Highlight

DJI-NEW YORK, June 5 (Reuters) - U.S. stocks flip-flopped throughout Friday's session, with the major indexes ending split as investors paused to consider conflicting signals in monthly U.S. jobs data.

Trading was choppy as the stock market initially started higher and then drifted lower as investors reassessed the implications of the latest jobs report.

The Labor Department reported that employers cut 345,000 jobs in May -- substantially less than analysts had forecast -- but the U.S. unemployment rate hit 9.4 percent, its highest since 1983.

The Dow Jones industrial average <.DJI> gained 12.89 points, or 0.15 percent, to 8,763.13. The Standard & Poor's 500 Index <.SPX> declined 2.37 points, or 0.25 percent, to 940.09. The Nasdaq Composite Index <.IXIC> dipped 0.60 of a point, or 0.03 percent, to 1,849.42.

On Monday, effective at the start of trading, Citigroup will be replaced in the blue-chip Dow average with Travelers . The large insurance company, known for its red umbrella logo, was once one of the crown jewels in the Citigroup empire before the financial giant was rocked by the credit crisis.

So after the weekend, when trading resumes on Monday, GM will be replaced in the Dow by Cisco Systems Inc , which makes the routers that drive the Internet.

NYMEX-NEW YORK, June 5 (Reuters) - U.S. crude oil futures ended lower in choppy trading on Friday, as misgivings about the latest government jobs report undermined an early surge to a seven-month high above $70 a barrel.

On the New York Mercantile Exchange, July crude settled down 37 cents, or 0.54 percent, at $68.44 a barrel, after trading from $67.54 to $70.32, the highest front-month intraday price since $70.46 was struck on Nov. 5.

CBOT-SOYBEANS - July down 4-1/2 cents at $12.25-1/2 a bushel. Rally in the dollar, weak crude oil and profit-taking before the weekend and after Thursday's strong rally to 8-1/2 month high, led by fund buying.

Tight soy stocks continue to limit downside moves in soy in addition to bouts of fund buying as a hedge against inflation.

CBOT-SOYOIL - July down 0.61 cent at 39.73 cents a pound. Profit-taking following rally earlier this week combined with drop in crude oil prices weigh on market.

FCPO-JAKARTA, June 5 (Reuters) - Malaysian palm oil futures dropped 1.9 percent on Friday, their biggest one-day fall in nearly two weeks, as investors pocketed profits, traders said.

The benchmark August contract on the Bursa Malaysia's Derivatives Exchange closed down 49 ringgit at the day's low of 2,520 ringgit ($721.44) per tonne, after rising as high as 2,611 ringgit. Overall volume was 16,906 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, June 5 (Reuters) - Most Southeast Asian stock markets rose on Friday to their highest levels in more than eight months, supported by broad global recovery hopes, and led by financial shares such as DBS and Maybank.

Stocks in Southeast Asia notched up strong gains on the week as share markets rallied and oil prices rose towards $70 a barrel. By 0950 GMT, the MSCI index of Asia-Pacific stocks outside Japan <.MIAPJ0000PUS> was up 1.2 percent.

Singapore's index <.FTSTI> rose 1.4 percent, with top lender DBS Group and Oversea-Chinese Banking Corp both gaining 1.4 percent.

Malaysia <.KLSE> rose 1.1 percent to its highest since Sept. 9, with Maybank up 1.8 percent and Bumiputra-Commerce adding 3.5 percent.

Thailand's stock index <.SETI> rose for a third day, up 1.9 percent to its highest since Sept. 29, with Bangkok Bank and Kasikornbank both gaining more than 3 percent.