Trader's Highlight

DJI-NEW YORK, July 20 (Reuters) - U.S. stocks jumped on Monday, driving the S&P 500 to an eight-month closing high, after CIT Group Inc was thrown a lifeline to avoid bankruptcy, and investors bet corporate America would log another strong set of earnings this week.

CIT , a lender to nearly 1 million small- and mid-sized U.S. companies, reached a deal with bondholders for $3 billion in emergency financing, a source familiar with the situation said. CIT's shares soared 78.6 percent to $1.25.

Investors were encouraged by signs that the CIT rescue was a private-sector measure instead of a government bailout.

The Dow Jones industrial average <.DJI> shot up 104.21 points, or 1.19 percent, to 8,848.15. The Standard & Poor's 500 Index <.SPX> gained 10.75 points, or 1.14 percent, to 951.13. The Nasdaq Composite Index <.IXIC> rose 22.68 points, or 1.20 percent, to 1,909.29.

NYMEX-NEW YORK, July 20 (Reuters) - U.S. crude oil futures ended higher on Monday after seesawing, extending last week's strong gains as a weak dollar and optimism reflected in stronger equities markets kept oil moving up.

On the New York Mercantile Exchange, August crude rose 42 cents, or 0.66 percent, to settle at $63.98 a barrel, trading from $63.19 to $64.90.

CBOT-SOYBEANS - August up 23-1/2 cents at $10.33 a bushel

Tight soy stocks, gains in equities and weak dollar, which makes U.S. commodities a better buy for importers, combine to lift soy futures. Prices continue to rebound from last week's sell-off.

CBOT-SOYOIL - August up 0.52 cent at 35.34 cents per lb. Following soybeans. Strength in equities markets combined with weak dollar also lifting market.

FCPO-KUALA LUMPUR, July 20 (Reuters) - Malaysian crude palm oil futures rose 1.8 percent on Monday, extending the previous week's gains as Asian festival demand strengthened and other vegetable oil markets gained.

The benchmark October contract on Bursa Malaysia's Derivatives Exchange settled up 39 ringgit to 2,162 ringgit ($610.9) per tonne. Overall volume stood at 13,460 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, July 20 (Reuters) - Stock markets in Singapore and
Malaysia extended their gains into a fifth day on Monday, leading most other Southeast Asian bourses higher, with optimism over quarterly earnings spurring demand for financials and big caps.

Singapore <.FTSTI> rose 1.04 percent to its highest since Sept. 25, with developer CapitaLand up 2.1 percent, while Malaysia <.KLSE> added 1.6 percent to its highest since Aug. 5, with power firm Tenaga Nasional up 3.1 percent.

Elsewhere, the Philippine index <.PSI> rose 1.3 percent on resuming trade after a typhoon caused the cancellation of Friday's session, while Vietnam <.VNI> bucked the trend, ending down 3.7 percent.