In the majors, if a ball bounces in and out of an outfielders glove, then bounces off the outfield wall and then the outfielder catches it, is it an out? My friend and I are interperting the rules differently. Thanks for the help.

No. It's the same as the ball hitting the ground.

It's not an out. If the ball hits the fence after coming out of a fielder's glove, it's the same as if it hit the ground.

(In OBR, if it bounces back off the fence and hits the fielder and then goes over the wall, the batter is awarded 2B. In ASA softball, the batter is awarded home, so the fence isn't quite equivalent to the ground. Don't know about Fed.)