The Dow rose 187 points, its biggest gain in almost 11 months. A good-sized rebound seemed in the offing since early this morning when the government reported strong retail sales numbers for May (so much for worries about higher gas prices cutting into spending). Then came a rally in the bond market, which resulted in yields dipping a bit, and the Fed releasing a report that finds the economy is growing without serious inflation fears. The best description of what's going on comes from MarketBeat's David Gaffen: "Itís a period of skittish schizophrenia for the markets. Unlike the steady, two-month rally, which was numbing in its plodding efficiency, the current environment has a scattershot, Daffy-Duck-on-Quaaludes quality." That'll get you in cash real fast.
More by Mark Lacter:American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
New at LA Observed
On the Media Page
Go to Media
On the Politics Page
Go to Politics
Sign up for daily email from LA Observed