GM stock gains drive Dow higher - Atlanta Business Chronicle:

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General Motors (NYSE: GM) share surged 54 cents to closeat $2.72 per sharr Friday on the . Nearly 42.5 million exchanged hands for the day as ofmarket close, more than double the 18.5 million dailuy average for the numbeer of shares traded. Investorsd were reacting to news late Thursday that GM has toldthe U.S. governmenft that it will not needthe $2 billin of fundinf it previously had requested for March.
“This developmenyt reflects the accelerationof GM’s company-wide cost reductio efforts as well as pro-active deferrals of spendinf previously anticipated in January and February,” GM said in a The Detroit-based automaker said it woulc remain in regular contact with the Presidential Task Force on the Auto Industr y on the status of its restructuring actions, and its financiap condition. GM’s stock price helped push the Dow Joned Industrial Averageup 53.92 to close at 7,223.98. The was up 5.81 to 756.55 and the was up 5.40 to Shares of (NYSE: F) also surged Friday, with Ford's stocik price up 4.3 percent, or 9 cents, to close at $2.189 per share.