Stocks Climb on GM, Bear Stearns News

The automaker's labor agreement -- and reports that Buffett and others may buy a stake in the investment bank -- outweighed a decline in durable good orders

Major stock indexes posted solid gains Wednesday as market sentiment was lifted by news the United Auto Workers and General Motors (GM) had reached a tentative contract agreement, ending a two-day strike. A news report that Warren Buffet and other parties were engaged in talks to buy a stake in Bear Stearns (BSC) also cheered investors. Meanwhile, a plunge in August durable goods orders gave some ammunition to market players arguing for further rate cuts by the Federal Reserve.

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