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Empresas y finanzas

Wall Street opens up on GMAC decision


    NEW YORK (Reuters) - Stocks rose on Friday as General Motors shares rallied 14 percent on news its GMAC affiliate qualified to be a bank holding company.

    * GMAC LLC, the financing arm of automaker General Motors, won Federal Reserve approval on Wednesday to become a bank holding company, giving it access to government lending programs and helping it stave off bankruptcy.

    * A report from SpendingPulse, a division of MasterCard Advisors, said sales were down 2 to 4 percent from a year ago for the full holiday season and declined 8 percent in December alone.

    * The Dow Jones industrial average rose 37.91 points, or 0.45 percent, at 8,506.39. The Standard & Poor's 500 Index added 4.10 points, or 0.47 percent, at 872.25. The Nasdaq Composite Index edged up 3.90 points, or 0.26 percent, at 1,528.80.

    (Reporting by Deepa Seetharaman; Editing by Kenneth Barry)