Stocks sharply higher

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Posted: Aug 23, 2011 12:37 PM
Source: Associated Press

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Topics: Stocks, Exxon Mobil Corp., Dow Jones industrial average, Chevron Corp., Bank of America Corp., bank stocks, Europe, debt crisis, recession, Wall Street, WBRZ

NEW YORK - Stocks are sharply higher in midday trading for the second day in a row.

Exxon Mobil Corp. rose the most of the 30 stocks in the Dow Jones industrial average on Tuesday, gaining 2.8 percent.

Chevron Corp. rose 2.7 percent.

Bank of America Corp. sank 2 percent, the worst in the Dow.

Other bank stocks were mixed.

Financial stocks have been hit hard in recent weeks over worries about Europe's debt crisis and the possibility that the U.S. could slip back into recession.

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