U.S. stocks rose on Wednesday, with blue chip companies including Caterpillar Inc., General Motors Corp. and Altria Group Inc. leading the gains. GM shares were up 3.7 percent after billionaire investor Kirk Kerkorian said he had upped his stake in the world's largest automaker to 7.2 percent with the purchase of 18.9 million shares through a tender offer -- but almost 10 million shares less than he had aimed to buy. The news followed Tuesday's disclosure that GM plans to cut 25,000 jobs. GM shares rose to $31.86 on the New York Stock Exchange, Reuters reported. The blue-chip Dow Jones industrial average .DJI was up 43.88 points, or 0.42 percent, at 10,526.95. The Standard & Poor's 500 Index .SPX was up 3.54 points, or 0.30 percent, at 1,200.80. The technology-laced Nasdaq Composite Index .IXIC was up 5.81 points, or 0.28 percent, at 2,072.97. "There's a little less aggressiveness occurring among investors," said Steve Goldman, chief market strategist at Weeden & Co., of Greenwich, Connecticut, noting why the blue chip stocks were the top gainers.. Shares of heavy equipment maker Caterpillar climbed 1.3 percent to $95.73 on the NYSE after brokerage Prudential raised its investment rating and price target on the stock. --More 2337 Local Time 2037 GMT
