The Dow Jones industrial average is up 170 points at 8,689. Gainers on the New York Stock Exchange hold an 8-to-7 lead over losers.
The Nasdaq Composite Index has gained 8 points at 1,626.
And the Standard-and Poor's 500 Stock Index is up 16 points at 913.
Trading on the New York Stock Exchange during the first two hours totaled 2.1 billion shares. Volume on the Nasdaq Market came to 839 million shares.
After yesterday's late-session sell-off, stocks have firmed in erratic trading today. Investors continue to digest a heavy helping of company news, much of it negative on the outlook or the implications. A source says Goldman Sachs Group is preparing to cut about 10 percent of its work force.
General Motors announced plans to suspend several benefit programs for salaried workers as it seeks to cut costs. Among the changes, it will temporarily stop company matching of its 401(k) program beginning Nov. 1.
The Labor Department reported that new applications for unemployment benefits rose 15,000 last week to a seasonally adjusted 478,000. Claims above the 400,000 level are considered a sign of recession.
http://accesswdun.com/article/2008/10/214535