DOW JONES-NEW YORK, Dec 22 (Reuters) - U.S. stocks rose on Thursday, putting the S&P 500 on the cusp of finishing out the year higher as another decline in jobless claims pointed to further improvement in the labor market.
The S&P rose for a third day in seasonally light volume that has contributed to sharp swings recently. With the benchmark index near break-even year-to-date and the Dow already higher for 2011, U.S. stocks appeared on track to outperform such major overseas markets as China, Brazil and Europe, all of which are down more than 10 percent year-to-date.
The Dow Jones industrial average <.DJI> was up 61.84 points, or 0.51 percent, at 12,169.58. The Standard & Poor's 500 Index <.SPX> was up 10.29 points, or 0.83 percent, at 1,254.01. The Nasdaq Composite Index <.IXIC> was up 21.48 points, or 0.83 percent, at 2,599.45.
NYMEX-NEW YORK, Dec 22 (Reuters) - U.S. crude futures rose for a fourth straight day on Thursday in thin, choppy trading, on fears of potential supply disruptions from Iraq and Iran coupled with supportive U.S. economic data.
An outburst of violence in Iraq and news of upcoming Iranian navy exercises reinforced oil's geopolitical fear premium. Oil also received a boost from reports showing U.S. jobless claims fell last week, while consumer sentiment improved more than expected in December.
On the New York Mercantile Exchange, February crude
CBOT-SOYBEAN, Soybean futures on the Chicago Board of Trade closed higher for a sixth session, their longest rally since July, buoyed by short-covering and worries about South American crop weather, traders said.
FCPO-SINGAPORE, Dec 22 (Reuters) - Malaysian crude palm oil futures rose to a near two week high on Thursday as traders focused more on heavy rains potentially disrupting production than fixating on concerns of euro zone debt crisis eroding global economic growth.
Financial markets in Asia are keeping an eye out on how much of the funds raised from an inaugural long-term European Central Bank tender will actually flow into euro zone economies and help restore much-needed investor confidence.
Benchmark March palm oil futures <0#FCPO:> rose 0.8 percent on the Bursa Malaysia Derivatives Exchange to close at 3,097 ringgit ($980) per tonne, a level last seen on Dec. 9.
REGIONAL EQUITIES-KUALA LUMPUR, Dec 22 (Reuters) - Southeast Asian stock markets were mostly steady to weaker on Thursday as short term players quickly booked profits amid weaknesses in Asia and nagging concerns over the euro zone debt crisis.
Doubts remained over how much of the funds that banks raised from an inaugural long-term European Central Bank tender would actually flow into struggling euro zone economies, pulling Asian shares broadly lower on Thursday.
Singapore's Straits Times Index <.FTSTI> ended down 0.32 percent. It was capped in negative terrain throughout the session, reversing Wednesday's 2.3 percent surge to one-week high.
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