U.S. stock markets rebounded strongly on Thursday after the Commerce Department reported a surge in demand for durable goods and a strong earnings report from Caterpillar Incorporated gave investors hope for a strong U.S. economy. A near triple-digit gain in the Dow Jones came despite news of a nearly $5 billion quarterly loss from General Motors Corporation. The car maker, which is a major component of the Dow Jones, reiterated its plans to cut some 30,000 jobs in order to return to profitability. The Dow Jones industrial average was up 102.05 points, or 0.95 percent, to end at 10,811.79. The Standard & Poor's 500 Index was up 9.44 points, or 0.75 percent, at 1,274.12. The technology-based Nasdaq Composite Index was up 22.59 points, or 1.00 percent, at 2,283.24. The cost of a barrel of light, sweet crude oil for February delivery on the New York Mercantile Exchange increased 41 cents to end the day's trading at $66.26 per barrel. The New York Stock Exchange increased 74.51 points to close at 8,044.00. The American Stock Exchange rose by 0.66 of a point to 1,826.51 and the Russell 2000 Index rose by 12.03 points to end the day at 728.48.
