DJI-NEW YORK, Nov 7 (Reuters) - U.S. stocks closed a volatile, lightly traded session slightly higher on Monday, with sentiment continuing to shift with the latest headline from Europe.
Wall Street spent most of the session lower before rebounding after Juergen Stark, a member of the European Central Bank's Executive Board, said the region's debt crisis might be overcome in "one or two years at the latest."
The Dow Jones industrial average <.DJI> was up 85.22 points, or 0.71 percent, at 12,068.46. The Standard & Poor's 500 Index <.SPX> was up 7.89 points, or 0.63 percent, at 1,261.12. The Nasdaq Composite Index <.IXIC> was up 9.10 points, or 0.34 percent, at 2,695.25.
NYMEX-NEW YORK, Nov 7 (Reuters) - U.S. crude futures were up for the fourth straight day on Monday to settle at a 14-week high on hopes Greece and Italy could resolve their debt troubles and on renewed concerns about Iran's nuclear program.
Over the weekend, the Greek government led by Prime Minister George Papandreou survived a no-confidence vote and Papandreou later agreed to step down. A new crisis coalition is hoped to push through parliamentary approval of a euro zone bailout deal.
On the New York Mercantile Exchange, December crude
CBOT-SOYBEANS,Soybean futures on the Chicago Board of Trade fell for a second day on a forecast for a record-large soy crop in Brazil, slow U.S. export demand and concerns the European debt crisis could engulf Italy, traders said.
The dollar firmed against the euro, pressuring grains, as record high Italian bond yields and political uncertainty fanned fears about the euro zone debt crisis.
FCPO-KUALA LUMPUR, Nov 4 (Reuters) - Malaysian palm oil futures climbed to a near seven-week high on Friday ahead of a long weekend, fuelled by improving risk appetite after Greece said it would abandon a referendum on its debt bailout package.
Concerns over the brewing La Nina weather pattern bringing more rains during the monsoon season also gave support to prices, although traders said the market would fully price in the development when there are signs of floods.
Benchmark January palm oil futures
REGIONAL EQUITIES-BANGKOK, Nov 7 (Reuters) - Stocks in Indonesia and Thailand edged lower in light volume on Monday as big caps pulled back in a subdued holiday trading session and as steady quarterly economic growth failed to lure buying interest in Jakarta.
Market turnover for Indonesia and Thailand halved a monthly average in the absence of market participants due to a holiday in the region, including a Muslim holiday in Indonesia.
Singapore <.FTSTI>, Malaysia <.KLSE>, the Philippines <.PSI> were shut on monday, reopening on Tuesday.
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