GM leads Wall Street higher

08:31, November 19, 2010      

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Wall Street rose on Thursday as General Motors shares surged while optimism grew on easing Ireland 's debt crisis.

Shares of General Motors gained more than 6 percent above its initial public offering price of 33 U.S. dollars.

Ireland was expected to receive tens of billions of euros in loans from European partners and the International Monetary Fund to help shore up its shattered banks.

In the latest economic data, initial jobless claims rose less than expected in the latest week. Claims for jobless benefits rose by 2,000 last week to 439,000, according to the Department of Labor.

The Dow Jones industrial average jumped 176.60 points, or 1.60 percent, to 11,184.48. The Standard &Poor's 500 index was up 20. 46 points, or 1.74 percent, to 1,199.05. The Nasdaq composite added 48.80 points, or 1.97 percent, to 2,524.81.

Source: Xinhua


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