GM accord, Bear Stearns report boost indexes
NEW YORK (Reuters) - Stocks rose on Wednesday as a labor agreement at General Motors Corp GM.N promised to lower costs for Detroit's automakers, while a report that Bear Stearns may sell a stake to outside investors boosted brokerage stocks.
The Dow Jones industrial average .DJI was up 99.50 points, or 0.72 percent, to end unofficially at 13,878.15. The Standard & Poor's 500 Index .SPX was up 8.21 points, or 0.54 percent, to finish unofficially at 1,525.42. The Nasdaq Composite Index .IXIC was up 15.58 points, or 0.58 percent, to close unofficially at 2,699.03.
