Market turns positive as GM's stock soars

1/07/2008 - 20:11

NEW YORK (Reuters) - Stocks turned positive on Tuesday afternoon, cutting earlier losses in volatile trading, after General Motors Corp reported stronger-than-expected June sales, helping temper worries about the impact of high fuel prices on corporate earnings.

GM's stock jumped almost 12 percent to $12.83.

The Dow Jones industrial average was up 23.86points, or 0.21 percent, at 11,373.87. The Standard & Poor's 500 Index was up 1.98 points, or 0.15 percent, at 1,281.98. The Nasdaq Composite Index was up 8.85 points, or 0.39 percent, at 2,301.83.

(Reporting by Walker Simon; Editing by Jan Paschal)

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