US STOCKS-S&P, Nasdaq turn positive; Dow cuts losses
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[January 05, 2009]

US STOCKS-S&P, Nasdaq turn positive; Dow cuts losses

NEW YORK, Jan 06, 2009 (Reuters via COMTEX) --
U.S. stocks turned positive and the Dow cut
losses on Monday after General Motors reported December sales that were better
than expected.
Dow component General Motors Corp rose 4.7 percent to $3.81 after it
posted December sales. Ford shares also rose 4.5 percent to $2.57.
Energy stocks also rose as oil traded in New York jumped 4 percent to
$46.52 a barrel on supply fears. The S&P index of energy shares was up 2.5
percent, helped by a 1.1 percent gain in Chevron.
Driving the Nasdaq, Apple Inc jumped 5.6 percent to $95.75 after chief
executive Steve Jobs sought to dispel fears about his health.
The Dow Jones industrial average fell 25.01 points, or 0.28 percent, at
9,009.68. The Standard & Poor's 500 Index rose 2.65 points, or 0.28 percent, at
934.45. The Nasdaq Composite Index was up 5.38 points, or 0.33 percent, at
1,637.59.
Earlier in the session stocks fell as investors took profits from last
week's strong gains, while concerns about slowing wireless growth in 2009
weighed on large telecom and cable companies.
Dow components Verizon Communications Inc and AT&T stumbled after
Bernstein Research downgraded both companies, saying it expected slower wireless


growth in 2009.
For details, see.
(Reporting by Deepa Seetharaman; Editing by James Dalgleish)
((deepa.seetharaman@thomsonreuters.com; Tel: +1 646 223-6125; Reuters
Messaging: deepa.seetharaman.reuters.com@reuters.net)) Keywords: MARKETS STOCKS
(Multimedia versions of Reuters Top News are now available for: * 3000 Xtra:
visit http://topnews.session.rservices.com
* BridgeStation: view story .134
For more information on Top News: http://topnews.reuters.com)
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including
by framing or similar means, is expressly prohibited without the prior written
consent of Thomson Reuters.
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