Trader's Highlight

DJI-NEW YORK, July 22 (Reuters) - Investors poured into tech shares on Friday as promising chipmaker earnings and optimism that a solution was on the horizon for the U.S. debt stalemate triggered a move into growth-oriented shares.

The Dow was held back by Caterpillar Inc CAT.N, with shares of the heavy equipment maker falling 5.8 percent on disappointing results. The stock exerted a 48.6-point drag on the Dow, which ended off 43 points.

The benchmark S&P 500 index rose 2.2 percent for the week, lifted by strong earnings and a new bailout plan for Greece to contain Europe's debt crisis. Stocks have been restrained, however, by the long slog of negotiations to resolve the U.S. debt crisis.

The Dow Jones industrial average .DJI dropped 43.25 points, or 0.34 percent, to 12,681.16. The Standard & Poor's 500 Index .SPX added 1.22 points, or 0.09 percent, to 1,345.02. The Nasdaq Composite Index .IXIC gained 24.40 points, or 0.86 percent, to 2,858.83.

NYMEX-NEW YORK, July 22 (Reuters) - U.S. crude oil futures settled at a six-week high just below $100 a barrel on Friday, buoyed by a sharp rebound in refined product futures.

A late slew of pre-weekend short-covering also pulled crude futures higher. Gasoline and heating oil futures gained on spread trading as they tracked higher Brent crude futures.

On the New York Mercantile Exchange, crude for September delivery CLU1 settled at $99.87 a barrel, gaining 74 cents, or 0.75 percent, the highest since June 9's close at $101.93.

CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade closed firm following a rally in corn as heat in the Midwest threatened the pollinating corn crop.

Cooler temperatures and showers in parts of the U.S. Midwest late this week will provide crops with only minor relief from stress - agricultural meteorologist

FCPO-KUALA LUMPUR, July 22 (Reuters) - Malaysian palm oil futures bounced on Friday as firmer overseas markets and fresh talk of a dip in production lifted sentiment.

The palm oil market has been choppy in the past week as concerns over the U.S. and euro debt crisis deepened this week. It has lost 17 percent so far this year thanks to higher supply although a possible slowdown in output in July and August could recover some losses.

The benchmark October crude palm oil contract KPOc3 on Bursa Malaysia Derivatives ended up 0.3 percent to 3,140 Malaysian ringgit ($1,048.414) per tonne.

Overall traded volume fell to 20,235 lots of 25 tonnes each from the usual 25,000 lots.

REGIONAL EQUITIES-HONG KONG, July 22 (Reuters) - Thai stocks outperformed in Southeast Asia on Friday, up 1.5 percent, as they continued to play catch-up to the region, helped by foreign buying, while Indonesia's benchmark hit another record high.

Southeast Asian markets are Asia's top performers this year thanks to strong economic and corporate fundamentals, as investors try to side-step problems affecting other markets such as China and India.

Malaysian .KLSE and Philippine markets .PSI ended the day little changed.