Stocks cut losses on GM's sales

1/07/2008 - 19:20

NEW YORK (Reuters) - Stocks cut losses on Tuesday, after General Motors reported stronger-than-expected June sales, somewhat easing concerns about the impact of high fuel prices on profits.

Shares of GM rose 3 percent to $11.88.

The Dow Jones industrial average was down 81.50 points, or 0.72 percent, at 11,268.51. The Standard & Poor's 500 Index was down 8.40 points, or 0.66 percent, at 1,271.60. The Nasdaq Composite Index was down 11.83 points, or 0.52 percent, at 2,281.15.

(Reporting by Kristina Cooke; Editing by Jan Paschal)

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