Market diary.

The markets had another rollercoaster ride for the week ended July 11, only to end up largely where they began. Jitters over the widening fallout from the subprime lending crisis rocked Wall Street on July 10 as rating companies downgraded hundreds of bonds tied to subprime loans, but the market recovered slightly the next day. The Dow Jones Industrial Average closed unchanged for the week at 13,577.90. The Standard & Poors 500 dropped 0.4 percent to close at 1,518.76, while the Nasdaq closed up 0.3 percent to close at 2,651.79. The LABJ index of 200 local stocks fared slightly better, closing up 0.6 percent to 143.90. However, only 71 stocks advanced, while 123 declined. Half of the 18 industry segments dropped in value, led by a 3.1 percent drop in the financial services sector as investors reacted to the subprime crisis. The miscellaneous services sector shot up 12 percent, largely on the 26 percent jump in the share price of Hilton Hotels Corp. after the Blackstone Group announced a bid of $47.50 per share for the giant hotel chain. Hilton was one of 18 stocks to hit 52-week highs, ending the week at $45.40 per share. Fourteen stocks reached 52-week lows, led by a 25 percent drop in the stock of Physicians Formula Holdings Inc. to $11.84 per share after that company cut its earnings guidance, citing weaker-than-expected consumer spending.