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Dow back in the black for 2011 after stocks rise

August 31, 2011 |  7:34 am

Ominous nyse spencer platt getty

The Dow Jones industrial average was back in positive territory for the year after stocks rose Wednesday morning for the fourth straight day.

A report from the Commerce Department said that factory orders grew in July more than economists expected, dampening fears that the economy is heading back into recession. A seperate report showed that private businesses added employees in August, though fewer than in July.

The Dow was recently trading up 116.17 points, or 1.0%, at 11,676.12. That is nearly 100 points higher than where the blue-chip index began the year. Thanks to the market plunge earlier this month, the Dow is still well below the highs reached in late April and July.

The broader Standard & Poor's 500 index is still in negative territory for the year.


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-- Nathaniel Popper

Photo: Spencer Platt / Getty Images