Palm | Kelapa Sawit

DJI-NEW YORK, July 17 (Reuters) - U.S. stocks soared on Thursday on a sharp drop in oil and several unexpectedly strong earnings reports, but the rally may not hold into Friday, given disappointing results from Google, Microsoft and Merrill Lynch after the bell.

The Dow Jones industrial average <.DJI> surged 207.38 points, or 1.85 percent, to 11,446.66, in its largest two-day percentage gain since Oct. 15, 2002, when it had a two-day gain of 5.2 percent. The Standard & Poor's 500 Index <.SPX> rose 14.96 points, or 1.20 percent, to 1,260.32. The Nasdaq Composite Index <.IXIC> climbed 27.45 points, or 1.20 percent, to 2,312.30.

NYMEX-NEW YORK, July 17 (Reuters) - U.S. crude oil futures ended down for the third straight day on Thursday, dropping to the lowest level in six weeks.Trading was volatile as demand worries persisted after Wednesday's government data showed unexpectedly large increases in crude and product stocks. August crude settled down $5.31, or 3.95 percent, at $129.29 a barrel.

CBOT-SOYBEANS - August down 52 cents at $15.21. Pressured by favorable growing conditions for soybeans and the Argentine Senate's rejection of an export tax hike on soy exports. Drop in crude oil also weighs.

SOYOIL - September down 0.67 cent at 63.42 cents per lb. Spillover selling from soybeans. Crude oil falls more than $4 per barrel.

FCPO-KUALA LUMPUR (Dow Jones)--Crude palm oil futures fell to a 10-week low Thursday as selling pressure swept through several commodity markets and investors rushed to take profits amid weak demand in the physical trade. The benchmark October contract on Bursa Malaysia Derivatives ended down MYR31 at MYR3,435 a metric ton after reaching a low of MYR3,418 - levels not seen since May 8.

Regional equities-July 17 (Reuters) - Most Southeast Asian stocks edged higher on Thursday, helped by a surge in U.S. banking shares and easing crude prices. Singapore <.FTSTI> rose 1 percent and Vietnam <.VNI> gained 0.7 percent, while Malaysian stocks <.KLSE> edged up 0.2 percent despite ongoing political tensions following the arrest of a leading opponent of the government.