Trader's Highlight

DJI-NEW YORK, Nov 5 (Reuters) - Wall Street navigated through three major landmines this week -- the elections, the U.S. Federal Reserve meeting and jobs report -- with barely a scratch. Now what?

With earnings season winding down and a light economic calendar next week, the market will be left to its own devices to sort out its direction.

A rise of more than 16 percent in the S&P 500 <.SPX> since the start of September had many investors expecting a pullback after the trio of big events. But it appears to have emboldened them instead.

The CBOE Volatility Index, a measure of market anxiety, has slipped below 19 and the late-week action suggests a market getting ready for more gains -- not a sell-off.

NYMEX-NEW YORK, Nov 5 (Reuters) - U.S. crude oil futures rose for a fifth day on Friday, posting the highest close in two years on a stronger-than-expected rise in U.S. jobs

On the New York Mercantile Exchange, crude turned in the best weekly performance in eight months, though the day's gains were limited as the dollar rallied.

On the New York Mercantile Exchange, crude for December delivery settled up 36cents, or 0.42 percent, at $86.85 a barrel, overtaking the year's highest close at $86.84 and posting the highest settlement since Oct. 8, 2008, when front-month crude ended at $88.95.

CBOT-CHICAGO, Nov 5 (Reuters) - Soybean futures on the Chicago Board of Trade rose for a third straight day on Friday, reaching a near 17-month high spot price, led by strength in soyoil as Asian vegoil markets rose, traders said.

CBOT-SOYBEANS - November up 4-3/4 cents at $12.69-1/2 per bushel; January up 5 at $12.79-3/4. Rose to a near 17-month high spot price overnight following soaring vegoils, with China's Dalian soyoil and palm oil limit up and crude oil higher despite an upturn in the dollar.

CBOT-SOYOIL - December up 0.61 cent at 51.86 cents per lb. Spot soyoil reached highest level since August 2008 on soaring global vegoils, with Dalian soyoil limit up and crude oil firm, despite an upturn in the dollar.

FCPO-KUALA LUMPUR, Nov 4 (Reuters) - Malaysian palm oil futures hit new 27-month highs on Thursday, tracking broad equity and commodity market gains after the Federal Reserve's decision to pump more money into the U.S. economy weakened the dollar.

The Federal Reserve committed to buy $600 billion in government bonds despite concerns the program might lead to high inflation.

The dollar index <.DXY>, a gauge of the greenback's performance against a basket of currencies, eased to just above its 2010 low set in October, sending investors to commodities as an inflation hedge and making dollar-priced products cheaper for holders of other currencies.

Another trader said palm oil investors were covering their positions before a three-day holiday in Malaysia on concerns that gains in crude oil and other commodities point to inflation.

Malaysia's benchmark Jan 2011 crude palm oil futures jumped as much as 3.3 percent to 3,210 ringgit ($1,042) -- the highest level since July 23, 2008. The overall traded volume almost doubled to 18,948 lots of 25 tonnes each.

REGIONAL EQUITIES-COLOMBO, Nov 5 (Reuters) - Most Southeast Asian stock markets rose on Friday, with Thailand outperforming, due to investors' hopes that a forthcoming $600 billion U.S. stimulus package will increase appetite for riskier assets and lure strong inflows.

Thai shares <.SETI> rose 5.7 percent on the week, their best weekly performance in 17months, and 0.9 percent on the day, scoring another 14-year high.

Singapore <.FTSTI> and Malaysia <.KLSE> were closed for a holiday on Friday, but they still rose 3.1 percent and 0.4 percent respectively on the week.