Trader's Highlight

DJI-NEW YORK, Feb 7 (Reuters) - The Dow and S&P 500 advanced to their highest levels since June 2008 on Monday as a flurry of merger news and solid earnings sparked broad gains.

Buying accelerated after the S&P 500 broke through the high end of its recent range, suggesting Wall Street has the strength to move the market higher. Almost three stocks rose for every one that fell on the New York Stock Exchange.

The Dow Jones industrial average <.DJI> was up 77.99 points, or 0.64 percent, at 12,170.14. The Standard & Poor's 500 Index <.SPX> was up 9.88 points, or 0.75 percent, at 1,320.75. The Nasdaq Composite Index <.IXIC> was up 21.26 points, or 0.77 percent, at 2,790.56.

NYMEX-NEW YORK, Feb 7 (Reuters) - U.S. crude oil futures ended lower for a third session on Monday, dropping to their lowest level in more than a week, as no supplies have gotten disrupted from the Mideast even though unrest in Egypt continued.

Transits through the Suez Canal remained unaffected, though traders were closely watching developments in Egypt, with concerns still remaining that turmoil there may spread across the Middle East, traders said.

On the New York Mercantile Exchange, March crude settled down $1.55, or 1.74 percent, at $87.48 a barrel, the lowest since the Jan. 27 close at $85.64. It traded from $87.42 to $89.54.

CBOT-CHICAGO, Feb 7 (Reuters) - Chicago Board of Trade grain and
soy complex close on Monday.

CBOT-SOYBEANS - March down 9 cents at $14.24-1/2 per
bushel. Fund long-liquidation weighs in addition to pressure form
better crop weather in Argentina.

CBOT-SOYOIL - March down 0.57 cent at 58.41 cents per lb.

REGIONAL EQUITIES-BANGKOK, Feb 7 (Reuters) - Most Southeast Asian stock markets were weaker to flat on Monday as investors cashed in on recent gains in energy-related stocks and financials, helping pull Singapore and Indonesia shares off their two-day highs.

Market volume was generally light as the improving U.S. economy sapped appetite for the emerging markets. Indonesia <.JKSE> and Thailand <.SETI> each saw its turnover around two-thirds the 30-day average.

Shares in Indonesia and Singapore <.FTSTI> failed to hold early gains, easing 0.6 percent and 0.2 percent respectively. Bargain hunters earlier entered the markets on technical-led buying, dealers said8.

Singapore-based Najeeb Jarhom, head of research at broker AmFraser Securities, said technical signals pointed to further upside for Singapore's Straits Times Index, with a 2011 fiscal budget announcement this month, partly helping to trigger buying.

In Kuala Lumpur, buying interest in palm plantation stocks helped pushed the Malaysia's main index to two-week highs along with rising Malaysia's palm oil futures, led by a 5.1 percent gain in Kuala Lumpur Kepong .