Stocks have another big day

Wall Street's gloom appears to be lifting, at least for now. Today's session was helped by some decent economic news and Bank of America improving its liquidity position by selling half its stake in China Construction Bank. Plus, the hurricane didn't turn out to be a major event for the overall economy. The Dow gained 254 points on the day, to close at 11,539 - and within sight of breaking even for 2011. Keep in mind that trading volume was thin, with some traders not showing up because of the storm, and some not even scheduled to come in because it's the last week of August.


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?
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Letter from Down Under: Welcome to the Homogenocene
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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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