The markets opened higher as retailers lured shoppers with bargain prices. The Dow gained 41 points to 8510 while Nasdaq added 4 points to 1529.
On the upside
Jones Apparel Group (NYSE: JNY) consolidated and reduced its $1.25 billion lines of credit into a single $600 million line of credit with more flexibility.The Federal Reserve approved GMAC's application to become a bank, which now allows the auto finance company to apply for government loans. General Motors (NYSE: GM) stock surged.
Intertgral Systems (Nasdaq: ISYS) reported higher fourth quarter earnings and revenue.
On the downside
Investors locked in profits for EPIX (Nasdaq: EPIX), which won FDA approval for its imaging agent Vasovist on Wednesday.
The first decline in holiday sales in forty years weighed down shares of Dillards (NYSE: DDS).
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 472.
