GM shares soar on hope of bailout after 70-yr low

Shares of General Motors and Ford Motor Co soared on Thursday after a Senate Democratic aide said senators had reached agreement on a bipartisan auto aid deal. GM shares jumped more than 23 percent to $3.43 on the New York Stock Exchange, while shares of Ford climbed more than 34 percent to $1.69. Earlier, GM shares tumbled more than 35 per cent to hit a 70-year low while Ford shares dropped 17 per cent to their lowest in 27 years.