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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/11/City-1-13.jpg"><img class="alignnone size-full wp-image-1027" title="NYSE to set up Belfast outpost" src="http://londonglossy.com/wp-content/uploads/2010/11/City-1-13.jpg" alt="" width="200" height="200" /></a></p>
<p>Stocks have bounded higher thanks to a jump in manufacturing activity and growing confidence that Ireland will resolve its debt crisis.</p>
<p>Most eyes were glued on General Motors, an American icon which re-emerged from bankruptcy in the second-largest initial public offering in history. Its shares, trading under the ticker GM, rose 3.6% to 34.19 US dollars.</p>
<p>The Dow Jones industrial average rose 173.35, or 1.6%, to close at 11,181.23. The Standard and Poor&#8217;s 500 index rose 18.10, or 1.5%, to 1,196.69. The technology-focused Nasdaq composite index rose 38.39, or 1.6%, to close at 2,514.40.</p>
<p>Stocks got a boost from a surprisingly strong reading on manufacturing from the Federal Reserve Bank of Philadelphia. The report said factory orders in the mid-Atlantic region expanded at the fastest rate since December.</p>
<p>All 10 industry groups within the S&;P index rose, with industrial and materials stocks posting the largest gains. Alcoa jumped 3.4%, while General Electric rose 1.5% and Caterpillar rose 2.4%. All 30 stocks that make up the Dow rose except for Intel which edged down 0.3%. Sears Holdings sank 3.8% after reporting that its loss nearly doubled in the third quarter on weak sales.</p>
<p>Shares jumped in Europe after Ireland moved closer to accepting financial assistance from the European Union. Ireland has nationalised three of its six local banks following a collapse of the country&#8217;s real estate market.</p>
<p>If it accepts outside help, Ireland will become the second European country to need a bailout this year. Greece came close to fiscal collapse in May and had to be rescued by other European countries and the International Monetary Fund. Fears that Greece&#8217;s fiscal morass would undermine the euro and lead to bailouts of other European countries brought stock prices down around the world in May and early June.</p>
<p>Ireland is also expected to accept a loan worth tens of billions of euros from the UK.</p>
<p>The Euro Stoxx 50 index, which tracks blue chip companies in the euro zone, gained 1.4%.</p>
<p>Bond prices retreated, pushing their yields higher. The yield on the 10-year Treasury note rose to 2.90% from 2.87% late Wednesday. The yield on the note, which is a widely used benchmark for consumer and business loans, traded as low at 2.49% on November 4.</p>
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