DJI-NEW YORK, Aug 8 (Reuters) - U.S. stocks soared on Friday rounding out their best week in more than three months, as oil plunged below $115 a barrel, easing inflation concerns and improving prospects for business and consumer spending.
The Dow Jones industrial average <.DJI> rose 302.89 points, or 2.65 percent, to 11,734.32, while the Standard & Poor's 500 Index <.SPX> jumped 30.25 points, or 2.39 percent, to 1,296.32. The Nasdaq Composite Index gained 58.37 points, or 2.48 percent, to 2,414.10.
NYMEX-NEW YORK, Aug 8 (Reuters) - U.S. crude oil futures closed nearly $5 lower on Friday as the dollar rallied on concerns about slowing European and Asian economies, feeding worries about lower oil demand.
On the New York Mercantile Exchange, September crude settled down $4.82, or 4.02 percent, at $115.20 a barrel, after trading between $114.90 and $120.08. The settlement was the lowest since May 1's $112.52 and the day's low was the lowest since crude hit $111.78 on May 2.
CBOT-SOYBEANS - August down 44 cents at $11.99 per bushel;new-crop November down 58-1/2 at $11.80-1/2.
Nearly ideal crop weather in the U.S., rallying dollar and falling crude oil to weigh on market. Traders hesitant to hold a position in the market before weekend and Aug. 12 USDA crop report.
Ahead of Aug. 12 crop report, the average analyst estimate for 2008 U.S. soy production seen at 3.001 bln bushels, basically unchanged from USDA's July forecast for 3.0 bln. U.S. soy 2008/09 ending stocks seen at 141 mln bushels vs USDA forecast of 140 mln bushels.
SOYOIL - August down 1.70 cents at 50.39 cents per lb.Pressed by weakness in crude, palm oil.
FCPO-JAKARTA, Aug 8 (Reuters) - Malaysian crude palm oil futures tumbled more than 2 percent on Friday as faltering crude oil dimmed prospects for vegetable oil-based biofuels, heightening concerns about slowing demand, dealers said.
The benchmark October contract on the Bursa Malaysia Derivatives Exchange ended 66 ringgit down, or 2.32 percent, at 2,779 ringgit ($842) a tonne on Friday.
REGIONAL EQUITIES-Aug 8 (Reuters) - Most Southeast Asian markets fell on Friday.
Singapore <.FTSTI> and Malaysia <.KLSE> edged 0.9 percent lower, while Jakarta <.JKSE> dipped 0.1 percent.But the Philippines <.PSI> and Vietnam <.VNI> bucked the trend to rise 0.3 and 1.2 percent respectively.
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