DJI- NEW YORK, June 22 (Reuters) - Oil bounced from 18-month lows o n F riday as investors shifted their focus to efforts to resolve Europe's debt crisis, while U.S. stocks rebounded from the second-worst decline of the year.
The euro firmed against the dollar after the European Central Bank said it would accept lower-quality assets as collateral in a move to aid the region's shaky banks.
Investors worry that Europe's debt crisis is adding to the slowdown in global economic growth, especially after a spate of data on Th ursday showing weakness in global manufacturing. European stocks ended lower for the day after data showed a drop in German business sentiment.
The leaders of Germany, France, Italy and Spain agreed on F riday on a 130 billion euro ($156 billion) package to revive economic growth in Europe but split over issuing joint bonds to combat the euro zone's debt crisis.
The Dow Jones industrial average <.DJI> gained 67.21 points, or 0.53 percent, at 12,640.78. The Standard & Poor's 500 Index <.SPX> was up 9.51 points, or 0.72 percent, at 1,335.02. The Nasdaq Composite Index <.IXIC> was up 33.33 points, or 1.17 percent, at 2,892.42.
NYMEX- NEW YORK, June 22 (Reuters) - U.S. crude futures ended up nearly 2 percent on Friday, rebounding from a 4 percent loss in the previous session and on short-covering as a potential storm threatened to disrupt oil production in the Gulf of Mexico.
CBOT SOYBEAN- Soybean futures on the Chicago Board of Trade ended higher on Friday on worries about tight supplies of old-crop U.S. soybeans and hot and dry weather in the U.S. Midwest threatening new-crop prospects, traders said.
Market pared gains toward the close on profit-taking; front-month soybeans unofficially ended the week up 4.8 percent.
Gains also limited after the midday run of a computerized U.S.-based weather forecasting model indicated wetter and cooler conditions in the six- to 10 and 11- to 15-day periods.
CBOT July options expired at the close of pit trading at 1:15 p.m. CDT (1815 GMT).
Soymeal lost ground against soyoil as meal/oil spreads unwound; soymeal came under pressure in the final five minutes of open-outcry trade.
FCPO- SINGAPORE, June 22 (Reuters) - Malaysian crude palm oil futures inched down on Friday, as investors took a more cautious stance on weak economic data from the United States and China, worrying that slowing global growth could hurt commodity demand.
U.S. factory growth registered its slowest pace in 11 months in June and Chinese manufacturing contracted for an eighth month running. Shrinking business activity across the euro zone and a downgrade to the credit ratings of 15 of the world's biggest banks by ratings agency Moody's also added to the gloom.
But palm oil still ended the week 3.7 percent higher on earlier rallies this week as dry weather in the U.S. threatened to tighten global oilseed supplies.
"We are seeing a tug of war. On one hand we have good fundamentals, on the other hand we have macroeconomic factors that are a bit bearish," said James Ratnam, an analyst with TA Securities in Malaysia.
"Festive demand is still quite strong but traders are worried that if the economy gets really bad, demand will suffer eventually."
Benchmark September palm oil futures on the Bursa Malaysia Derivatives Exchange lost 1.6 percent to close at 2,953 ringgit ($928) per tonne. Prices rose as high as 3,062 ringgit on Thursday, a level unseen since June 1.
Traded volumes stood at 26,845 lots of 25 tonnes each, slightly higher than the usual 25,000 lots on position squaring ahead of the weekend.
REGIONAL EQUITY- June 22 (Reuters) - Most Southeast Asian stock markets ended weaker on Friday as fears over weaker global economic growth hit investor appetite for risky assets.
U.S manufacturing grew in June at its slowest pace in 11 months, an industry survey showed on Thursday, and data showed the euro zone's private sector shrinking at its fastest pace in three years this month, while Chinese manufacturing contracted for an eighth straight month.
Malaysia <.KLSE> edged up 0.1 with a$22.07 million inflow, extending net foreign buying to $79 million in the last four sessions.
