NEW YORK, Sept. 11 (Xinhua) -- U.S. stocks advanced Thursday as a report said that Lehman Brothers may be taken over by Bank of America.

The market rose sharply in the afternoon on the Wall Street Journal's story speculating that Bank of America is involved in takeover discussions with Lehman.

Shares of financial companies recovered from severe losses. Shares of American International Group Inc. ended up 0.3 percent after falling more than 12 percent. JPMorgan Chase rose 5.7 percent while Wells Fargo gained 6.8 percent.

Crude prices' slide helped shares of energy-intensive companies. An index of airlines rose 6.4 percent while the Dow Jones Transport Index added 3.4 percent.

The Dow Jones industrial average was up 164.79 points, or 1.46 percent, to 11,433.71. The Standard & Poor's 500 Index closed up 17.01 points, or 1.38 percent, to 1,249.05. The Nasdaq Composite Index finished up 29.52 points, or 1.32 percent, to 2,258.22.
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