Trader's Highlight

DJ-NEW YORK, July 8 (Reuters) - Wall Street rose for a third straight day on Thursday as investors were encouraged to see jobless claims fall and a handful of large retailers report solid sales.

Stocks have regained their footing after a slew of poor data had raised fears of a double-dip recession. But low market volume suggested investors are still skeptical, and few expect to see a sustained rally.

The Dow rose more than 1 percent, bolstered by late-day buying. Consumer staples <.GSPS> were the S&P's best-performing sector, with Costco Wholesale Corp rising 2.6 percent at $55.71. The sector gained 1.5 percent.

NYMEX-NEW YORK, July 8 (Reuters) - U.S. crude oil futures ended higher for the second consecutive day on Thursday as government data showing a bigger-than-expected drawdown in domestic crude inventories and gains in equities whetted risk appetite.

Gasoline and heating oil futures rose even though the government data showed that their physical stocks rose.

CBOT-July 8 (Reuters) - CBOT grain and soy complex closing trends on Thursday.

CBOT-SOYBEANS - September up 12-1/2 cents per bushel at at $9.53-1/2. Reaching a six-month high on continuous price charts on firm cash supplies and fresh sales to China. Additional strength from fund buying amid weather concerns in Europe and China. This week's drop in U.S. soybean condition ratings adds support.

CBOT-SOYOIL - September down 0.16 cent per lb at 36.96 cents per lb.

FCPO-JAKARTA, July 8 (Reuters) - Malaysian crude palm oil closed nearly 1 percent higher on Thursday, recovering from losses the previous day on gains in crude oil, but worries over inventories and a firmer ringgit limited gains.

The benchmark September contract on Bursa Malaysia's Derivatives Exchange settled up 20 ringgit or 0.88 percent to 2,290 ringgit ($716) a tonne after trading as high as 2,310 ringgit per tonne. Overall volume stood at 14,577 lots of 25 tonnes each, more than the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, July 8 (Reuters) - Southeast Asian stock markets gained on Thursday, helped by a rise on Wall Street and a rebound in oil prices that pushed up energy and related sectors.

Domestic buying fuelled gains as shares around Asia moved higher after a bullish financial company forecast fuelled optimism about the coming U.S. earnings season and underpinned a slow return by investors to riskier assets.

Singapore's benchmark stock index <.FTSTI> rose 1.3 percent to the highest since May 13 while the Philippines <.PSI> climbed 1.4 percent to the highest since January 2008.

Malaysia <.KLSE> posted a smaller gain of 0.3 percent before a decision by Malaysia's central bank to raise its key interest rate by 25 basis points, its third increase in five months, citing strong growth prospects for its economy.