Stocks Up Despite GM Filing
By Kevin Spak,  Newser Staff
Posted Jun 1, 2009 8:54 AM CDT
Traders work on the floor of the New York Stock Exchange Thursday, May 14, 2009.   (AP Photo/Richard Drew)
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(Newser) – Stocks shot higher at the open this morning, as rising oil prices and strong manufacturing data from China outweighed news of GM's bankruptcy. The Dow rose 102 points; as of next Monday, the index will no longer include GM and Citigroup. The Nasdaq and S&P were each up 1.3%. Oil rose more than $2 to $68, driven in part by China’s announcement that industrial activity would increase for the third straight month.