Wall Street was higher in early afternoon trade on Wednesday as General Motors (NYSE: GM) and the United Auto Workers reached a tentative agreement in contract negotiations and the UAW called a halt to its two-day-old strike while the contract is being reviewed by the union.

The news of an agreement sent GM’s shares $1.68 higher to $36.10.

The Dow Jones Industrial Average added 0.6 percent to 13,861, while the Nasdaq Composite was up 0.81 percent to 2,705.3 and the S&P 500 gained 0.57 percent to 1,525.86.

The Commerce Department reported that durable goods orders were 4.9 percent lower in August, a bigger decline than the 3.5 percent than had been anticipated after orders rose by 6.1 percent in July.

Transportation equipment orders dropped 11.2 percent, with commercial aircraft orders down 41 percent and orders for motor vehicles and parts dropping 6.2 percent.

On the other hand, orders for military aircraft gained 43.2 percent.

Even without the decline in the transport sector, durable goods orders would still have declined by 1.8 percent.

Investment banks saw gains on conjecture that Bear Stearns (NYSE: BSC) could be in talks to sell a minority share.

Bear Stearns added $4.01 to $118.25, while Goldman Sachs (NYSE: GS) gained $3.07 to $213.97 and Morgan Stanley (NYSE: MS) was up $1.42 to $62.79.

In the software sector, open-source software manufacturer Red Hat (NYSE: RHT) was $1 higher to $19.89 after it said profits in its fiscal second quarter were up by 59 percent.

Mixed quarterly reports sent Wall Street lower at midday on Thursday, despite Tuesday’s interest rate cut and a Labor Department report that showed that new unemployment claims were down by 9,000 last week.

There was little indication from Federal Reserve chairman Ben Bernanke, in testimony before the House Financial Services Committee, of what if any further measures the Fed might take to further alleviate the repercussions from the credit crisis.

The Dow Jones Industrial Average dropped 0.13 percent to 13,797.35, while the Nasdaq Composite was down 0.18 percent to 2,661.71 and the S&P 500 was 0.27 percent lower to 1,524.96.

In the financial services sector, Goldman Sachs (NYSE: GS) gained $2.80 to $208.10 after it said its profits were up by 79 percent in the third quarter, a surprise considering the chaos in the subprime market.

While Bear Stearns (NYSE: BSC) saw declines after it said its profits fell by 62 percent in the quarter, it added $3.13 to $118.77 after its CFO said that the worst of the losses seems to be behind it.

Elsewhere, electronics retailer Circuit City was $1.81 percent lower to $8.76 after it reported losses in the quarter.

Most airlines were lower as oil prices remained near record levels and Goldman Sachs issued a warning that the sector could be subject to competitive pressures and a tough economy.

Continental Airlines (NYSE: CAL) was $1.02 lower to $32.66, while Alaska Air (NYSE: ALK) dropped 96 cents to $24.27.

AMR (NYSE: AMR), the parent of American Airlines, fell 70 cents to $23.92.

Goldman Sachs cut its rating on both AMR and Alaska Air from “neutral” to “sell”.

On the other hand, the broker raised its recommendation on Southwest Airlines (NYSE: LUV) from “sell” to “neutral”, sending Southwest’s shares 21 cents higher to $15.34.

Wall Street was lower in midday trade on Monday.

The Dow Jones Industrial Average was down 0.4 percent to 13,389.36, while the Nasdaq Composite fell 0.9 percent to 2,578.74 and the S&P 500 was 0.66 percent lower to 1,474.52.

Investor uncertainty ahead of tomorrow’s interest rate decision from the Federal Reserve and before several brokers release their quarterly results later in the week.

Brokerages declined ahead of results, with Lehman Brothers (NYSE: LEH) 87 cents lower to $58.64.

Morgan Stanley (NYSE: MS) dropped $1.75 to $64.36, Merrill Lynch (NYSE: MER; TYO: 8675) was down $2.10 to $72.55, and Goldman Sachs (NYSE: GS) fell $3.32 to $187.27.

Most chipmakers were lower on the session.

The main exception was Advanced Micro Devices (NYSE: AMD), which added 10 cents to $12.79 by midday after an upgrade to “neutral” from “underweight” from JP Morgan (NYSE: JPM; TYO: 8634).

Texas Instruments (NSYE: STM) dropped 1 cent to $34.67, while Intel (NAS: INTC; SEHK: 4335) was 9 cents lower to $24.84. Broadcom (NAS: BRCM) fell 70 cents to $34.80, while US-traded shares of STMicroelectronics (NSYE: STM; Euronext: STM) were down 58 cents to $16.11.

After a European Union court dismissed Microsoft’s (NAS: MSFT) appeal of a EU antitrust ruling and upheld the fine issued with the ruling, the software giant dropped 37 cents to $28.67.

By early afternoon Monday the New York equities markets were up even though many banks were lower again.

The Dow Jones Industrial Average was 0.59 percent higher to 13,167.93, while the Nasdaq Composite had added 0.67 percent to 2,538.25 and the S&P 500 had gained 0.49 percent to 1,454.17.

Banks were lower after Citigroup (NYSE: C), Bank of America (NYSE: BAC), JP Morgan Chase (NYSE: JPM; TYO: 8634) and Wachovia (NYSE: WB) each said they had borrowed $500 million from the Federal Reserve.

Bank of America was 24 cents lower to $51.06, while Wachovia fell 31 cents to $48.93, Citigroup dropped 53 cents to $47.53 and JP Morgan Chase was down $1.06 to $45.14.

Elsewhere in the sector, Goldman Sachs (NYSE: GS) was 41 cents lower to $175.07, Merrill Lynch (NYSE: MER; TYO: 8675) fell 99 cents to $75.12 and Lehman Brothers (NYSE: LEH) had dropped $1.23 to $56.31.

Futures exchange operator Nymex Holdings (NYSE: NMX) added $7.10 to $125.88 on reports that it has had early discussions toward some sort of deal, while MGM Mirage (NYSE: MGM) gained $6.23 to $80.55 on speculation that it is a bids target from Dubai World.

In the house building sector, Toll Brothers (NYSE: TOL) added 80 cents to $21.89 even though it said its profits in the fiscal third quarter were down on more cancellations than expected and on large writedowns but still came out better than analysts had anticipated.

The gains didn’t help the rest of the sector much, however.

At just past 1 p.m. New York time, Hovnanian Enterprises (NYSE: HOV) was up just 1 cent to $11.96, while Pulte Homes (NYSE: PHM) had dropped 3 cents to $17.26 and DR Horton (NYSE: DHI) was down 29 cents to $16.05.

Wall Street was higher in early afternoon trade Tuesday.

The Dow Jones Industrial Average was 0.04 percent higher to 13,126.39, while the Nasdaq Composite had added 0.48 percent to 2,520.55 and the S&P 500 was up 0.25 percent to 1,449.22.

The oil sector declined as oil prices fell below $70 per barrel in New York as Hurricane Dean weakened with no lasting damage to oil production facilities in the Gulf of Mexico.

Chevron (NYSE: CVX) was 20 cents lower to $84.69, while ConocoPhillips (NYSE: COP) dropped $1.21 to $78.65 and ExxonMobil (NYSE: XOM) fell $1.28 to $83.25.

The declining oil prices sent AMR (NYSE: AMR), the parent company of American Airlines, $1.34 higher to $23.55.

Most banks were higher after Senate Banking Committee Chairman and Democratic presidential candidate Christopher Dodd said after a meeting with Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson that that Mr. Bernanke said that he was willing to do whatever necessary to calm the markets.

This led some analysts to speculate that there will soon be a cut in US interest rates.

While JP Morgan Chase (NYSE: JPM; TYO: 8634) was 1 cent lower to $46.48, Morgan Stanley (NYSE: MS) had added 31 cents to $62.97, Merrill Lynch (NYSE: MER; TYO: 8675) was up 74 cents to $75.64 and Goldman Sachs (NYSE: GS) had gained $3.74 to $176.50.

The telecommunications sector was also higher.

Sprint-Nextel (NYSE: S) was 15 cents higher to $18.41, while AT&T (NYSE: T) had added 46 cents to $39.11.

Wall Street was lower in early afternoon trade on Monday.

The Dow Jones Industrial Average was back down below the 13,000 level to trade at 12,993.32, a decline of 0.66 percent, just before 1:30 pm in New York, while the Nasdaq Composite had dropped 0.64 percent to 2,489.1 and the S&P 500 was 0.99 percent lower to 1,431.6.

The retail sector was mixed.

Rite-Aid (NYSE: RAD) was even at $4.88, while Wal-Mart (NYSE: WMT) had dropped 25 cents to $43.24.

Home improvement retailers, however, saw gains after Lowe’s (NYSE: LOW) reported that its earnings were at 67 cents per share in the second quarter, against expected earnings of 61 cents per share.

Despite dropping its forecasts for the third quarter and the full year, Lowe’s added $1.51 to $28.38, while rival Home Depot (NYSE: HD) gained 19 cents to $33.50.

The financial services sector saw declines.

Troubled mortgage lender Countrywide Financial (NYSE: CFC) was down $1.43 to $20.

Wells Fargo (NYSE: WFC) dropped 61 cents to $36.63, while Morgan Stanley (NYSE: MS) fell 84 cents to $61.39, Citigroup (NYSE: C) was 86 cents lower to $47.95 and Bank of America was down 96 cents to $50.80.

JP Morgan Chase (NYSE: JPM; TYO: 8634) fell $1.44 to $45.57, Lehman Brothers (NYSE: LEH) was down $1.78 to $56.30, Merrill Lynch (NYSE: MER; TYO: 8675) dropped $2.01 to $74.03, and Goldman Sachs (NYSE: GS) was $3.87 lower to $171.13.

At just before 2 pm in New York, Wall Street was in positive territory for the day, helped by the Fed‘s cut in the discount rate.

Most analysts now expect that the Fed will cut the benchmark interest rate when it meets in September, while some investors hope they do it even sooner than that.

Some analysts said that if the cut in the discount rate returns confidence to the markets, the Fed might not need to cut the benchmark rate, but the Fed’s move on the discount rate was seen as evidence that the Fed is prepared to act if the markets don’t become more stable soon.

The Dow Jones Industrial Average was 1.25 percent higher to 13,006.49, while the Nasdaq Composite had added 1.67 percent to 2,491.92 and the S&P 500 was up 1.88 percent to 1,437.77.

Mortgage lender Countrywide Financial (NYSE: CFC), which saw big declines on Thursday after drawing down a multi-billion dollar credit line to be able to stay in operation, was up $2.23 in afternoon trade on Friday to $21.18.

Banks were also higher.

Citigroup (NYSE: C) had gained $1.57 to $49.12, while Bank of America (NYSE: BAC) added $1.88 to $51.73 and Goldman Sachs (NYSE: GS) was $3.98 higher to $173.83.

Housebuilder DR Horton (NYSE: DHI) was also higher, adding 63 cents to $16.54 after Thursday’s data on new home construction came in lower than expected for July.

The telecommunications sector was mixed. Verizon Communications (NYSE: VZ) was 11 cents higher to $40.34 and Qwest Communications (NYSE: Q) had gained 22 cents to $8.94, but Sprint-Nextel (NSYE: S) was trading even at $18.20 and Alcatel-Lucent (NYSE: ALU) had dropped 6 cents to $10.53.

Results were also mixed in the pharmaceuticals sector.

Pfizer (NYSE: PFE) was 53 cents higher to $23.92, but Merck (NYSE: MRK) was down 11 cents to $49.35 while Bristol-Myers Squibb had dropped 27 cents to $27.10.

Wall Street saw gains in early afternoon trade on Wednesday.

The Dow Jones Industrial Average was 0.5 percent higher to 13,094.52, while the Nasdaq Composite had added 0.65 percent to 2,515.45 and the S&P 500 was up 0.75 percent to 1,437.19.

In the financial services sector, it was reported that Bank of America (NYSE: BAC) and Countrywide Financial (NYSE: CFC) have both refused to lend money when hedge funds use subprime securities, collateralized debt obligations or mortgages as collateral.

Bank of America was $1.05 higher to $48.91, but Countrywide had dropped $1.96 to $22.50 after Merrill Lynch (NYSE: MER; TYO: 8675) cut its recommendation on the mortgage lender from “buy” to “sell” on worries about liquidity in the sector.

Elsewhere among financial groups Lehman Brothers (NYSE: LEH) added 17 cents to $53.84, while Merrill Lynch gained 25 cents to $27.59 and JP Morgan Chase (NYSE: JPM) was 50 cents higher to $43.80.

Citigroup (NYSE: C) added 57 cents to $46.23, while Goldman Sachs (NYSE: GS) was up 64 cents to $170.39.

The pharmaceuticals sector was also higher, with Pfizer (NYSE: PFE) adding 25 cents to $23.83 and Schering-Plough (NYSE: SGP) up $1.29 to $29.60.

Among retailers, Wal-Mart (NYSE: WMT) gained 3 cents to $43.63 and Home Depot (NYSE: HD) added 27 cents to $33.79.

Wall Street was lower in afternoon trade on Tuesday.

At early afternoon in New York, the Dow Jones Industrial Average was 0.76 percent lower to 13,136.06, a decline of 100.47 points after having been down as many as 178 points earlier in the session.

The Nasdaq Composite was down 0.7 percent to 2,534.51, while the S&P 500 had dropped 0.81 percent to 1,441.1.

The declines came after the European Central Bank put another $10.5 billion into money markets as the US Federal Reserve declined to add any additional cash into the system.

In other economic news, the Labor Department reported that the producer price index was 0.6 percent higher in July amid higher energy costs.

However, with energy and food costs subtracted, the core PPI was only up 0.1 percent in the month.

Home Depot (NYSE: HD) was 81 cents lower to $34.43 after it said that profits were down by 14.8 percent in the second quarter.

The result was better than had been anticipated, but it warned that full-year profits will likely be down this year due to declines in the housing sector.

The home improvement retailer also said that it could have to cut its planned stock repurchase in half if the sale of its HD Supply unit is not completed, although Home Depot CFO Carol Tome was quick to add that the $10.3 billion sale to private equity is not in trouble.

Elsewhere in the retail sector, Wal-Mart (NYSE: WMT) dropped $2.17 to $44.00 after it cut its profit forecast and said that the economy, including higher oil prices, was cutting consumer spending globally.

Toymaker Mattel (NYSE: MAT) was down 48 cents to $23.09 after it extended its recall of toys made in China.

It was the second recall announced in two weeks.

Financial services were also lower again.

Bear Stearns (NYSE: BSC) dropped $1.54 to $108.06, while Goldman Sachs (NYSE: GS) fell $6.71 to $170.79.

In early afternoon trade in New York on Monday, equities markets were slightly ahead after last week’s declines.

The Dow Jones Industrial Average was up 0.3 percent to 13,278,72, while the Nasdaq Composite had added 0.15 percent to 2,548.6 and the S&P 500 was 0.32 percent higher to 1,458.32.

The gains came as the Federal Reserve and other central banks added more cash into their monetary systems in order to calm investor nerves about the credit market.

The New York Fed announced $2 billion in overnight repurchase agreements, while the Bank of Japan put another $5 billion into the system and the European Central Bank added another $65.3 billion.

Also helping the US markets was a new report from the Commerce Department that showed retail sales up 0.3 percent in July, a bit more than had been anticipated.

This new data left the retail sector mixed, however, with Wal-Mart (NYSE: WMT) up 21 cents to $46.28 but home improvement retailer Home Depot (NYSE: HD) falling 53 cents to $35.39.

Technology stocks were mostly higher in afternoon trade even though they had retreated from morning gains.

Qwest Communications (NYSE: Q) was up 19 cents to $8.56 on the news that it had named a new CEO after the retirement of its previous one.

Qualcomm (NAS: QCOM) added 96 cents to $38.85 after its general counsel resigned in the wake of legal troubles in its continuing dispute with Broadcom (NAS: BRCM), which fell 59 cents to $35.26.

Storage technology group EMC Corp (NYSE: EMC) was $1.12 higher to $18.84 as it prepared to spin off 10 percent of its Vmware storage virtualization unit.

In the subprime sector, Accredited Home Lenders Holding Co (NAS: LEND) dropped $2.76 to $6.15 after it said it had filed suit against Lone Star Fund V and two of its affiliates to try to get the private equity firm to live up to its agreement to take over the troubled mortgage lender after Lone Star said on Friday that Accredited did not meet the conditions of the offer.

Accredited said that without the takeover deal, it could have to file for bankruptcy.

Meanwhile, Goldman Sachs (NYSE: GS) dropped $1.62 to $178.88.