Market diary.

In light pre-holiday trading, Wall Street made modest advances for the week ended Aug 30. The market was boosted by a gross domestic product report that showed the economy expanding at a faster pace than previously thought. The Dow Jones Industrial Average and Standard & Poor's 500 Index have been trading near their highest point in three months, while the Nasdaq Composite Index remained close to a seven-week high. The local LABJ 200 Index rose 1.4 percent to 130.19, with advancing issues outpacing decliners 132 to 57. Eleven stocks in the LABJ index hit hew highs, while nine hit new lows. The communications sectors had by far the biggest gains for the week, up 10 percent, with MRV Communications Inc. gaining 15 percent. The apparel sector showed the biggest fall, down needy 5 percent, with Cherokee International Corp losing 6 percent. Most of the top gainers were in micro and small cap stocks, with Health Sciences Group Inc. up 75 percent. Among stocks trading above $10, 3D Systems Corp. and PeopleSuppert Inc. gained 12.7 and 12.6 percent-respectively. Among the largest losers for the week was Guess Inc., down 12.4 percent after reporting that August same-store sales rose 4 percent, half as much as analysts were expecting. In the financial services sector, nearly flat at 0.1 percent growth, Beverly Hills Bancorp Inc. was down 5.8 percent and First Regional Bancorp fell 5.6 percent.