Trader's Highlight

DJI-NEW YORK, Dec 4 (Reuters) - The U.S. dollar jumped and global stocks soared on Friday after data showing the United States shed far fewer jobs last month than expected boosted hopes the U.S. economy is taking solid steps forward.

But the surprisingly strong report on the U.S. labor market stoked speculation the Federal Reserve may move to raise interest rates from record lows sooner than initially thought.

The Dow Jones industrial average <.DJI> rose 22.75 points, or 0.22 percent, at 10,388.90. The Standard & Poor's 500 Index <.SPX> gained 6.06 points, or 0.55 percent, at 1,105.98. The Nasdaq Composite Index <.IXIC> added 21.21 points, or 0.98 percent, at 2,194.35.

NYMEX-NEW YORK, Dec 4 (Reuters) - U.S. crude futures ended below $76 on Friday, in a commodities sell-off sparked by a surge in the dollar, which overshadowed data showing a decline in the U.S. unemployment rate.

On the New York Mercantile Exchange, January crude settled down 99 cents, or 1.29 percent, at $75.47 a barrel, trading from $74.85 to $77.90. From a week ago, the contract fell 58 cents, or 0.76 percent.

At the close, the discount for NYMEX January crude against February crude was $1.78, edging up from $1.75 on Thursday. It widened as much as $2.45 in the session, the steepest since Aug. 19.

CBOT-SOYBEANS - January down 4 cents at $10.43 a bushel. Weighed down by firm dollar despite persistent strong export and domestic demand for U.S. soy. Prices turned lower as crude oil turned down.

CBOT-SOYOIL - December up 0.01 cent at 39.76 cents per lb, January up 0.01 cent at 40.13 cents. Support from some unwinding of meal/oil spreads.

FCPO-KUALA LUMPUR, Dec 4 (Reuters) - Malaysian crude palm oil futures rose as much as 4.8 percent on Friday to hit a six-month high on forecasts that palm oil may climb above 3,000 ringgit next year.

Palm oil prices shot up in the second trading session of the day but have since pulled back on concerns of higher stocks last month and slower exports in December.

The benchmark February contract on the Bursa Malaysia Derivatives Exchange rose as much as 118 ringgit to 2,596 ringgit ($768.3), a level unseen since June 5. The contract then settled at 2,562 ringgit.

Trade volumes more than doubled to 22,897 lots of 25 tonnes each due to an inflow of funds, traders said.

REGIONAL EQUITIES-BANGKOK, Dec 4 (Reuters) - Southeast Asian stocks mostly fell
on Friday, with Singapore snapping a three-day winning streak and Thai stocks sagging as energy and industrial counters PTT and Siam Cement continued to suffer from an adverse court ruling.

Singapore's benchmark stock index <.FTSTI> edged down 0.6 percent after rising 0.4 percent on Thursday, Malaysia <.KLSE> fell 0.2 percent and Thailand <.SETI> lost 0.7 percent, erasing some of its 1.9 percent rally a day earlier.

A fall in Malaysian builder Gamuda , down 2.2 percent, capped gains in Kuala Lumpur.

NYMEX Crude Weekly: Losing ground

Market continue to lose ground following the violation of the immediate support at USD75.00. Thus, market may move sideways to lower in near term. As for now, we are looking for the upside resistance at USD82.00. While, underline support will be pegged at USD72.00.

FCPO Weekly: Likely to move higher in near term

Market violated the recent high at 2521 levels convincingly and close off the high for the week had strengthen further the immediate technical landscape. Thus, market likely to continue to move higher in near term with upside resistance is now looking at 2600-2650 followed by 2800 levels. While, downside support is adjusted to 2428-2419 (left over gap on 29/11/2009).

DJI Weekly: Holding well

Immediate technical landscape remains positive following prices tested the upside resistance at 10,500 but not closing. Thus, we continue to look for the upside resistance at 10,500-10,800. To the downside, support is remains at 10,000.

FKLI Weekly: Struggling to survive at above 1250 levels

Market is struggling to survive at above 1250 physiological support levels. Thus, violation of it may provide more room to bias downside potential which is looking at 1230 followed by 1200 levels. While to the upside, resistance at 1286 followed by 1300.