Jobs, GM Can't Knock Stocks

By Kevin Spak,  Newser Staff
Posted Feb 26, 2009 8:50 AM CST
Traders gather at the post of Weatherford International Ltd. on the floor of the New York Stock Exchange, Wednesday, Feb. 25, 2009.    (AP Photo/Richard Drew)
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(Newser) – Stocks headed north early, with the Dow up 93 points, despite bleak economic data and a $9.6 billion loss from GM. Jobless claims unexpectedly leaped last week, with total claims topping 5 million for the first time, while durable goods orders sunk 5.2% in January. But JPMorgan rose 5% ahead of its shareholder meeting, and Bank of America climbed 8% on reports that it was shopping First Republic Bank.