Trader's Highlight

DJI-NEW YORK, March 5 (Reuters) - World equities and oil jumped on Friday on signs of revived consumer spending and after fears a stormy February would worsen the U.S. jobs picture proved false, boosting sentiment about the pivotal labor market.

Sentiment also was buoyed after European leaders expressed confidence that new austerity measures planned by Greece would be enough to pull the country out of its debt crisis and make any bailout unnecessary.

The Dow Jones industrial average <.DJI> closed up 122.06 points, or 1.17 percent, at 10,566.20. The Standard & Poor's 500 Index <.SPX> climbed 15.73 points, or 1.40 percent, at 1,138.70. The Nasdaq Composite Index <.IXIC> gained 34.04 points, or 1.48 percent, at 2,326.35.

NYMEX-NEW YORK, March 5 (Reuters) - U.S. crude oil futures ended
at their highest level in nearly eight weeks on Friday, rallying with Wall Street, as government data showed that U.S. employers cut a smaller number of jobs than expected in February, bolstering economic recovery hopes.

Crude gained sharply along with a wide array of commodities as investors bet on higher raw materials demand and firm interest rates should the economy recover.

On the New York Mercantile Exchange, April crude closed up $1.29, or 1.61 percent, at $81.50 a barrel, the highest close since Jan. 11's $82.52. It traded from $80.47 to $82.07, highest front-month price since $82.34 was hit Jan.12.

CBOT-CHICAGO, March 5 (Reuters) - Chicago Board of Trade grains and soy complex close on Friday.

CBOT- SOYBEANS - CBOT March soybeans up 2-1/4 cents at $9.34-3/4 a bushel, May up 3/4cent at $9.42-3/4. Choppy market attempting to consolidate. Support from short-covering and higher crude oil but seesaw trade in dollar leading to uncertainty. Outlooks for record large South American soy production continue to cap attempts to rally soy.

CBOT-SOYMEAL - CBOT March soymeal unchanged at $257.90 per ton, May down 20 cents at $257.70. Oil/meal spreading supported soyoil and weighed on soymeal.

FCPO-KUALA LUMPUR, March 5 (Reuters) - Malaysia's palm oil futures ended off two-month highs on Friday as some traders took profits on strong external markets and expectations of bullish forecasts at a key industry conference next week.

Palm oil has gained 0.3 percent so far this year compared to U.S. soyoil's 2.4 percent decline, making it the best performing vegetable oil market.

Benchmark May crude palm oil futures on the Bursa Malaysia Derivatives Exchange closed down 4 ringgit at 2,670 ringgit, after trading as high as 2,700 ringgit ($803.5) earlier in the session, a level unseen since January 6.

REGIONAL EQUITIES-BANGKOK, March 5 (Reuters) - Malaysian shares hit a six-week high on Friday as an unexpected interest rate hike boosted the outlook for local bank stocks, but the Thai market fell for a second day due to late selling in telecom shares.

Other Southeast Asian stock markets ended in positive territory in response to encouraging U.S. retail sales and jobs data, but investors were still keen to see the monthly U.S. report on non-farm payrolls due out later on Friday.

Singapore <.FTSTI> gained 0.78 percent, Indonesia <.JKSE> was up 0.51 percent and Vietnam <.VNI> rose for a third day, adding 0.29 percent.

In Kuala Lumpur, the benchmark stock index <.KLSE> climbed 1.22 percent to its highest since Jan. 22 as investors snapped up bank shares.

After the market close on Thursday, Malaysia's central bank raised interest rates by a quarter of a point to 2.25 percent as part of efforts to unwind crisis measures, bucking expectations in a Reuters poll that rates would be left on hold.