Stocks extend their rally; GM soars on bailout hopes

U.S. stocks jumped Wednesday, extending a three-day winning streak, their longest since April, despite gloomy economic data.

Major indexes opened lower but recovered to post big gains. The Dow Jones Industrial Average, which has soared more than 12% over the last three sessions, was up 247.14 or 2.9% to 8726.61. The Standard & Poor's 500-stock index rose 30.29 points, or 3.5%, to