The Dow Jones has soared to its highest point in nearly five months this morning following news General Motors has filed for Chapter 11 bankruptcy protection.
The index rose 196.02 points (2.31%) to 8,696.35 as of 10:42am EDT. GM will now be removed from the index as an automatic reaction to a bankruptcy filing, and is set to be replaced by Cisco Systems. The former auto-giant's stock saw a relatively large increase of 0.14 points (19.08%) to leave it at 89.3 cents in early trading. Cisco, meanwhile, rose 0.92 points (4.97%) to $19.42. Citigroup is also set to leave the DJI. Its stock stayed flat in early trading, up a minor 0.01 points (0.27%) to $3.73. It will be replaced by Travelers, which saw its share price rise 1.72 points (4.22%) to $...
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