After yesterday’s horror show, the stock market battled back with the major averages gaining between 3%-4%. For a few moments there, it looked like the wheels were going to come off, early in the afternoon after GM (GM) threw a wet blanket on the party with its November sales report.
Financials made up ground, but again, not nearly all of yesterday’s losses. The big loser in the bunch: Goldman (GS) which didn’t recover from the blockbuster story that it could lose $2 billion this quarter.
GE (GE) was a big winner after it affirmed its dividend, its commitment to financial services and its AAA credit rating.