This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Dow Watch: GM, Banks Lead the Advance

Updated from 2:47 p.m. EST

Nice Gains for a Change

(At 5:19 p.m. EST)

Not sure how much follow through we'll get tomorrow, but Tuesday's run-up in the market certainly was a relief from the almost daily pessimism and gloom about stocks we've gotten used to.

The Dow Jones Industrial Average rose 236.16 points, or 3.3%, to 7350.94 after Fed Chairman Ben Bernanke cheered traders with his vision that 2010 could be the year we'll begin the recovery.

I like the sound of this. Assuming the government can get things turned around by propping up a few badly distressed companies, we'll be back in form next year.

Just 10 more months and then we'll be creating jobs, buying new homes and cars, filling the malls, getting more credit cards. Right? In all seriousness, let's hope he's on to something and that tonight President Obama will add some encouraging comments about getting the economy out of this mess.

Since I don't want to be too cynical, I'll focus on the positives. The Dow broke a three-day string of losses and had its best point gain and percentage increase since Jan. 21. The move higher cut the index's decline for the month to 8.1% and pared its decrease for the year to 16.2%.

Microsoft (MSFT) was the only loser of the 30 Dow stocks, and it fell just 4 cents to $17.17. The winners were paced by Bank of America (BAC), Citigroup (C) and GM (GM), all of which soared more than 20%, led by a 25.4% surge in the automaker.

Other big gainers were American Express (AXP), up 12.1%, and Alcoa (AA) and Home Depot (HD), better by 10% each. And with that, good night.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs