GM-UAW deal pushes U.S. stocks higher

Date: Wed, 26 Sep 2007
11:50 am ET

DJIA

13,859

+81.13

S&P

1,526

+9.63

NASDAQ

2,706

+23.17

10Yr

4.66%

+0.042

GM-UAW deal pushes U.S. stocks higher

NEW YORK
U.S. stocks climbed higher Wednesday, with the early gains tied largely
to a tentative deal ending a two-day United Auto Workers strike against
General Motors Corp. that could set the stage for other automakers to
cut health-care costs.

Economic Report: Capital spending softens as durable-goods orders fall
4.9%

WASHINGTON
Businesses reduced their orders for capital equipment from U.S.
factories in August, another sign that capital spending and exports may
not be strong enough to offset weakness in other areas of the economy.

GM shares rise as much as 7% on settlement with union

SAN FRANCISCO
General Motors Corp. shares jumped as much as 7.4% early Wednesday after
the Detroit automaker hammered out a deal with the United Auto Workers,
marking an end to a two-day strike and allowing production to resume.

Chevron Corp. to buy back $15 bln in stock

NEW YORK
Chevron Corp. on Wednesday set plans to buy back up to $15 billion in
stock as the oil giant moved to return to shareholders some of its
windfall from higher oil prices.

Northern Rock shares jump 13% after approaches received

LONDON
Shares of Northern Rock jumped as much as 13% Wednesday, rallying as the
company said it has received preliminary approaches from a number of
interested parties about a prospective transaction involving the
troubled U.K. mortgage lender.