US STOCKS-Market jumps on GM news, rate-cut bets

Newswire

(Updates with Dow rising 1 percent) NEW YORK, Oct 29 (Reuters) - U.S. stocks advanced on Wednesday, helped by reassuring news about merger talks between General Motors and Chrysler, and optimism that the U.S. Federal Reserve will slash interest rates for the second time this month to shore up the economy. According to sources familiar with the matter, major issues have been resolved in GM talks with private equity firm Cerberus Capital, owner of Chrysler. GM shares jumped nearly 9 ...

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