Trader's Highlight

DJI-NEW YORK, July 9 (Reuters) - Wall Street closed out its best week in a year on Friday, snapping back from a long stretch of selling, as investors looked ahead to what many expect will be a solid earnings season.

Stocks ended near the day's highs, but trading was thin. Just 6.197 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, making it the lowest-volume day of the year.

The Dow Jones industrial average <.DJI> was up 59.04 points, or 0.58 percent, at 10,198.03. The Standard & Poor's 500 Index <.SPX> was up 7.70 points, or 0.72 percent, at 1,077.95. The Nasdaq Composite Index <.IXIC> was up 21.05 points, or 0.97 percent, at 2,196.45.

NYMEX-NEW YORK, July 9 (Reuters) - U.S. crude oil futures ended higher for the third consecutive day on Friday and notched the beefiest weekly gain since May as upward momentum held on demand optimism following Thursday's data showing a large crude supply drawdown.

With the day's advance, crude oil posted a weekly gain of 5.48 percent, bouncing from a hefty loss of 8.5 percent in the week to July 2. The week's gain was the biggest percentage-wise since the week ending to May 28, when oil futures closed up 5.61 percent.

On the New York Mercantile Exchange, crude for August delivery settled up 65 cents, or 0.86 percent, at $76.09 a barrel, the highest settlement since the $75.63 close on June 30. It traded between $75 and $76.48, also the highest since June 30's intraday peak of $76.83.

CBOT-CHICAGO, July 9 (Reuters) - Chicago Board of Trade grain and soy complex close on Friday.

CBOT-SOYBEANS - July up 13 cents at $10.25-1/2 per bushel; new-crop November up 7-1/4 cents at $9.53-1/4. Front month contract hits highest level since January 7 due to tight supplies on cash market. New crop months also firm amid strong export demand.

CBOT-SOYOIL - August up 0.51 cent at 37.50 cents per lb. Following soybeans and support from USDA's July s/d report that showed ending soyoil stocks below the forecast in June. Firm crude oil market also supportive.

FCPO-JAKARTA, July 9 (Reuters) - Malaysian crude palm oil settled up 0.48 percent Friday on gains crude oil and grains markets with players expect gains to continue next week, traders said.

The benchmark September contract on Bursa Malaysia's Derivatives Exchange ended up 11 ringit to 2,300 ringgit ($720) a tonne by after trading as high as 2,320 ringgit per tonne. Overall volume stood at 17,049 lots of 25 tonnes each, above the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, July 9 (Reuters) - Malaysian shares climbed to their highest since June 29 on Friday as optimism about interest margins lifted banks, and most other Southeast Asian bourses extended recent gains after positive global economic indicators.

Malaysia's central bank raised its benchmark rate by 25 basis points on Thursday, its third rise in five months, but signalled rates would now be on hold as it assessed the health of the global economic recovery.

Malaysia's benchmark stock index <.KLSE> ended up 0.6 percent, with financial firm AMMB Holdings up 1 percent, second-largest lender CIMB up 0.6 percent and Malayan Banking up 0.3 percent.

In Singapore, Singapore Telecommunications , Southeast Asia's biggest telecoms firm and the largest listed Singapore firm by market capitalisation, rose 0.65 percent to S$3.09.

Credit Suisse has raised its target price to S$3.76 from S$3.72, and maintained its "outperform" rating, as it expects a better earnings contribution from Singtel's stake in Bharti Airtel .

Shares in Singapore-listed shipbuilder Yangzijiang Shipbuilding rose 3.6 percent as investors believe it will report strong earnings for the second quarter and be on the lookout for acquisitions.