Stocks finish higher after GM debut

U.S. stocks surged more than 1% Thursday as an early rally gained steam, following a strong debut by General Motors' stock. Overnight talk that the Irish government was close to accepting a bailout loan eased eurozone worries and sent global stocks soaring. That momentum spilled over to U.S. markets. The Dow Jones industrial average (INDU) jumped 173 points, or 1.6%. The S&P 500 (SPX) rose 18 points, or 1.5%, and the Nasdaq (COMP) ticked up 38 points, or 1.6%, according to early tallies. Shares of General Motors (GM) opened at $35 apiece, $2 above the offering price. Trading was very active, with volume topping 452 million shares at the close. That's equivalent to about 10% of the total volume trading on the New York Stock Exchange's Thursday. The automaker's highly-anticipated initial public offering raised more than $20 billion, making it the largest in U.S. history. "The GM deal looks like it went well, which shows there's finally some stability and a growing company," said Joseph Saluzzi, co-head of equity trading at Themis Trading. "There was really no question of it not going well, because they had the government behind them, so it's a no brainer for investors -- they're thinking they can get a quick flip here, buying at $33 and selling at $35." Read more:http://money.cnn.com/2010/11/18/markets/markets_newyork/index.htm