Marts up

Stocks gained for a sec ond day. The Standard & Poor’s 500 Index in creased 0.7 percent to 996.46. The Dow Jones industrial average jumped 61.22 to 9,279.16. The Nasdaq rose 13.32 to 1,969.24.

E*Trade

E*Trade Financial Corp. shareholders have approved a $1.7 billion debt exchange with Cita del Investment Group, based on a preliminary count of votes returned.

Mountain meet

The Kansas City Fed eral Reserve’s yearly conference at a moun tain retreat in Jackson Hole, Wyo., will draw central bankers and top economists together this week at a time when the crisis appears to be eas ing, with the global econ omy on the mend.

Wells Fargo

The banking unit of Wells Fargo & Co. is fac ing a lawsuit claiming it il legally reduced the size of customers’ home equity lines of credit. The suit, which was filed in Illinois, claims Wells Fargo failed to accurately assess the value of customers’ houses before deciding to cut the size of their credit lines.

Ross gain

James Lockhart, 63, di rector of the Federal Housing Finance Agency, will become vice chair man of WL Ross & Co., the distressed investment affiliate of Atlanta-based Invesco Ltd.

Fido exit

Fidelity Investments President Rodger Lawson said he’s searching for a successor and won’t leave until a replacement is found.