Stocks rebound at opening
Stocks are up at opening, as they attempt to reverse their three-day slide from the end of last week.
In the first 25 minutes of trading, the Dow is up three-quarters of 1 percent.
The broader S&P 500 is up nine-tenths of 1 percent and the tech-heavy Nasdaq is up seven-tenths of 1 percent.
Today's rally may be attributable to increased confidence that Fed Chairman Ben Bernanke will be reconfirmed for a second term. Toward the end of last week, it didn't look that way, as partisan sniping looked like it would end up making Bernanke a one-termer. But that appears to have cooled this morning.
In other news, a report out this morning says that acting GM chief executive Ed Whitacre will end up being the company's permanent CEO, following the board's ouster of chief executive Fritz Henderson last year, only months after he took over the troubled automaker. This really should surprise no one. Anyone who's heard Whitacre give a press conference understands Whiteacre is not the kind of guy who's happy when other people are in charge.
-- Follow me on Twitter at @theticker
January 25, 2010; 9:58 AM ET
Categories: The Ticker | Tags: Dow Jones, GM, nasdaq, s&p 500
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