Stocks Climb on GM, Bear Stearns News
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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