For the first time since late 2004, shares of GM (GM) broke above $40 rising as much as 5% in early trading. The wrapping up of the UAW contract probably gave the stock a final push.

But, there is something more that the market likes. For the first time in years, GM has held up its sales numbers for two months in a row. Unit volume increased in August and September. At the same time, sales for Toyota (TM) have faltered a bit and Ford (F) sales have cratered.

Perhaps the General is back

Douglas A. McIntyre