Stocks Rise; Banks up on Fed Comments, Dell Drags S&P

Dell Inc., after the market closed yesterday, denoted a third-quarter profit of 34 cents a share.

Michael Dell said he would continue expansion into new countries.

General Motors, Wells Fargo and Countrywide Corp. have had the most incredible weekly stock rise, in two months after Bernanke announced he would cut interest rates.

General Motors Corp., the largest automaker rose 57 cents to $29.35. The company plans to increase expenses on Chinese-made parts 25 percent a year until 2010 because of lower production costs and China's rising vehicle sales.

Wells Fargo & Co. and JPMorgan Chase & Co. saw the greatest progress this week in the last four years

The biggest U.S. mortgage company, Countrywide Financial Corporation recorded important gains

JPMorgan, the third largest bank in U.S., rose $ 2.16 to $ 45.81, while Bank of America, the second largest bank in U.S. advanced $1.44 to $46.07.

The top U.S. bank, Citigroup Inc., added $1.21 to $33.50.

Citigroup, Wells Fargo and Washington Mutual Inc. executives attended yesterday a meeting with Treasury Secretary Henri Paulson who is negotiating an agreement with banks on adjusting rate mortgages, according to people who participated in this meeting.

Countrywide increased $1.86 to $11.16 for the top gain in the S&P 500.