This Day On The Street
Continue to site
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

Dow Watch: JPMorgan Jumps, GM Ticks Up

Updated from 2:04 p.m. EDT

And Tomorrow's Already Wednesday

( At 5:35 p.m. EDT)

Thanks to a much better than expected reading on consumer confidence, Wall Street had an upbeat start to a short week. The Dow Jones Industrial Average rose 196.17 points, or 2.4%, to 8473.49 Tuesday as 28 of its 30 stocks advanced.

JPMorgan Chase (JPM) was the best performer on a percentage basis, up 6.2% to $36.54. American Express (AXP - Get Report) gained 5% to $24.57, and Alcoa (AA) added 4.6% to $9.27.

Only Bank of America (BAC - Get Report), off 0.8% at $10.98, and Coca-Cola (KO), down 0.2% at $47.21, fell.

The story though, was GM (GM - Get Report), which appears to have made some progress with the auto workers. However, bankruptcy watch has never been more intense than it will be in the coming days. The company needs bondholders to agree to exchange their debt for equity, and reports suggest it's not looking good for the automaker's offer.

Shares tacked on 1 cent to $1.44 on volume that was more than seven times the daily average.

We'll know more in a few hours. Stay tuned.

Every Stock's Higher

( At 1:55 p.m. EDT)

GM (GM - Get Report) went from being the worst performer on the Dow all the way to positive territory as the automaker scrambled to stay out of bankruptcy court.

Just days ahead of a government deadline to prove its viability, GM has reached an agreement that will give 17.5% of its common stock, along with warrants, preferred stock and a $2.5 billion note, to the UAW's health-care Voluntary Employee Beneficiary Association, The Wall Street Journal reported.

Meanwhile, retiree benefits will be cut immediately, the paper said. The Associated Press reported that most hourly employees will get buyout offers or requests to retire early.
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AXP $77.33 0.00%
BAC $15.58 0.00%
CAT $71.30 0.00%
GM $32.95 0.00%
GE $28.07 0.00%


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs