Stocks open higher, with Facebook, GM boosted after third-quarter results

Australian dollars in Sydney, Friday, Jan. 15, 2016. (AAP Image/Joel Carrett) NO ARCHIVING

Stocks opened solidly higher Wednesday, putting Wall Street on track to close out a bruising October on an upbeat note. The S&P 500 SPX, +1.24% was up 1.1% at 2,712, while the Dow Jones Industrial Average DJIA, +1.04% advancd 250 points, or 1%, to 25,123. The Nasdaq Composite COMP, +1.95% was 1.7% higher at 7,281. Shares of Facebook Inc. FB, +5.96% rose 5.2% in early action, while General Motors Co. GM, +7.30% advanced 7.5% after quarterly results. For the month, the S&P 500 is set for a nearly 7% decline, while the Dow is headed for a 5% monthly loss and the Nasdaq is set for a 9.5% fall after a tech-led rout.

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