U.S. Stocks Work Higher in Rebound Move

While the automakers petition the government, the United Auto Workers union is reportedly planning an emergency meeting to discuss ways to help their employers secure emergency funds. Automakers also are expected to roll out their November sales figures later in the day.

Elsewhere, a union of engineers for aerospace firm Boeing (BA Quote) ratified new contracts with the company. The deal covers more than 20,000 workers. Earlier this year, Boeing faced production delays and reduced earnings when its machinists union elected to strike.

Meanwhile, Delta Airlines (DAL Quote) announced systemwide capacity cuts of 6% to 8% and said it was assessing the reductions' impact on its employees.

Among financial companies, The Wall Street Journal reported that Goldman Sachs (GS Quote) would post a $2 billion loss for the most recent quarter.

Several big technology names were also making headlines. Intel (INTC Quote) and Hitachi (HIT Quote) announced plans to collaborate on development of solid-state drives for servers.

Taiwan Semiconductor (TSM Quote) reduced its fourth-quarter revenue forecast, citing a weakening global economy and slackening demand.

In earnings news, Beazer Homes posted a fourth-quarter loss that tripled from a year ago. Similarly, department-store operator Sears Holdings (SHLD Quote) announced a wider-than-expected third-quarter loss.

Office supplier Staples (SPLS Quote) said its third-quarter earnings declined 43% on restructuring charges.

Some of the day's analyst actions were looking to set certain stocks in motion. Morgan Stanley cut its earnings estimates for credit-card company Visa (V Quote), and Barclays reduced its profit forecast for defense firm General Dynamics (GD Quote).

In the commodities arena, crude oil was losing 64 cents to $48.64 a barrel. Gold was gaining $4.20 to $781 an ounce.