Stocks Vault as Ireland Fears Wane and GM Debuts


On Thursday, stocks clawed back nearly of the week's prior losses. Lifting investors' spirits were an easing of concerns over Irish debt, GM's massive IPO and some surprisingly positive economic reports.

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International Update: Stocks Rise in Tokyo on Renewed Optimism

Unemployment benefits

House Republicans thwarted an expedited effort by Democrats to extend jobless benefits into next year. It cleared by 258-154 but failed to meet the two-thirds majority needed for "fast-track" passage. Two million Americans could soon lose their aid.

Philly Fed Index Jumps to Highest Level in 2010 as Manufacturing Surges

Manufacturing activity in the mid-Atlantic region unexpectedly surged in November. The Philly Fed's Business Outlook Survey index jumped to 22.5 in November from 1 in October, its highest reading since December 2009.

Weekly jobless claims

The latest weekly initial claims report showed a small increase, some 2,000 higher to 439,000. The more-telling four-week moving average dropped by 4,000 to 443,000, and continuing claims fell another 48,000 to 4.3 million.

TSA full-body scanner at JKF airport

The growing controversy over invasive air-security measures like full-body scanning and pat downs, along with a shaky economy, could combine for more woes for both passengers and airlines, just in time for economically vital Thanksgiving holiday. Will fewer folks fly?

Congress

Despite a market meltdown, the men and women of Congress posted a 16% gain collectively between 2008 to 2009, according to a study by the Center for Responsive Politics. Another finding: virtually half of Congressional members are millionaires, including eight mega-millionaires.

When all is said and done, General Motors could easily vault to the top of the list, surpassing Visa's IPO as the biggest U.S. company offering, and beyond Agriculture Bank of China as the biggest ever in the world. Here's a look at the other top-grossing IPOs.

While everyone hates inflation, deflation has instant emotional appeal: Who doesn't like a bargain? But deflation is a far more serious economic problem than inflation -- and, as we found, most folks don't really know why. Do you? If not, no worries: Economist Gary Shilling will explain the reasoning. [Video]

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Market Movers

SymbolLastChange / %Volume

Most Actives

C
CITIGROUP INC
4.30+0.11
+2.63%
487.78M
GM
GENERAL MTRS CO
34.19+1.19
+3.61%
455.15M
F
FORD MTR CO DEL
16.12-0.56
-3.36%
256.02M
SPY
SPDR S&P 500 Trust
119.96+1.74
+1.47%
183.86M

% Gainers

IRE
IRELAND BK
2.88 +0.72
+33.33%
23.45M
WMH
Wireless HOLDRS Trust
45.47 +5.76
+14.51%
2,700.00
BORN
CHINA NEW BORUN CORP
12.39 +1.29
+11.62%
1.07M
AGQ
ProShares Ultra Silver
123.36 +11.93
+10.71%
1.17M

% Losers

ZSL
ProShares UltraShort Silver
13.46-1.67
-11.04%
2.61M
WSM
WILLIAMS SONOMA INC
32.09-3.71
-10.36%
9.00M
CVOL
CITIGROUP FDG INC
92.77-10.49
-10.16%
3,000.00
CTC
IFM INVTS LTD
4.38-0.45
-9.32%
10,590.00

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