Market diary.

Stocks rallied for the week ended Feb. 22. after a drop in crude prices and a benign inflation report sent the Dow Jones Industrial Average to its highest level in four and a half years. The Standard & Poor's 500 Index rose 1 percent to 1,292.67 while the Dow rose 0.7 percent to 11, 137.20. The Nasdaq Composite Index was up 0.3 percent to 2,283.17. The IABJ 200 Index got a 1.9 percent lift to 130.30 with advances outpacing declines 121 to 69. Ten issues were unchanged while 21 local stocks hit new 52-week highs and just three sank to new lows. Automotive, plastics and metals firms led gainers, up 5.4 percent, followed by construction and engineering firms, up 5 percent. Ten sectors posted gains while eight posted declines. It was an up and down week for several stocks. Apparel firms got hit hard, declining 7.1 percent, after Guess Inc. warned of slower growth in the third quarter. Guess itself was down 16 percent to $37.29 a share. Yet jean manufacturer True Religion Apparel Inc. jumped 16 percent to $23.75 a share. Meanwhile, water and land company Cadiz Inc. lost 13 percent to $16.36 a share even as Southwest Water Co. rose 19 percent to $17.24 a share. High-flying Reliance Steel & Aluminum Corp. rose 8.5 percent to $84.80 a share, while Motorcar Parts of America, jumped 20 percent to $12.30 a share.