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Telecomunicaciones y tecnología

Wall Street jumps on GE rating outlook and data


    NEW YORK (Reuters) - Stocks rose for a third day on Thursday on relief that S&P's credit rating cut for General Electric was just one notch and that no further downgrades loomed, while data showed some stabilization in consumer spending.

    GE , which is the ninth-largest company in the S&P 500 and viewed as an economic bellwether, jumped nearly 13 percent. Standard & Poor's stripped it of its "AAA" rating, citing the expectation for poor earnings at its finance unit, and assigned a "stable" outlook.

    Wal-Mart Stores Inc was among the Dow's top advancers after a government report showed sales at U.S. retailers fell by an unexpectedly small margin in February.

    The Dow Jones industrial average rose 239.66 points, or 3.46 percent, to 7,170.06. The Standard & Poor's 500 Index gained 29.38 points, or 4.07 percent, to 750.74. The Nasdaq Composite Index climbed 54.46 points, or 3.97 percent, to 1,426.10.

    (Reporting by Leah Schnurr; Editing by Jan Paschal)