US stocks extended gains for a fourth day after shares of automakers and financials soared. Economic data released earlier in the day failed to dampen investor sentiment before the Thanksgiving Day.

The Dow Jones Industrial Average jumped 247.14 points, (+2.91%), to 8,726.61. The S&P 500 added 30.29 points (+3.53%) to 887.68. The Nasdaq Composite leaped 67.37 points (+4.60%) to 1,532.10.

Shares of automakers surged up on bailout hopes. General Motors Corporation (NYSE: GM) rallied $1.25 or 35.11% to $4.81.Ford Motor Co. (NYSE: F) increased 49 cents or 29.52% to $2.15.

Citigroup Inc. (NYSE: C) gained 97 cents or 15.95% to $7.05. Bank of America Corporation (NYSE: BAC) and JP Morgan & Chase (NYSE: JPM) advanced 4.26% and 2.86% respectively.

Alcoa Inc.(NYSE: AA) jumped 78 cents or 8.04% to $10.48. Chevron Corp (NYSE:CVX) added $3.40 or 4.44% to finish at $79.93.

Shares of equipment maker, Caterpillar Inc. (NYSE: CAT) finished up $2.06 or 5.53% at $39.33.

Among technology stocks, Intel Corporation (NASDAQ: INTC) rose 84 cents or 6.40% to $13.97.Cisco Systems, Inc. (NASDAQ: CSCO) Apple Inc. (NSDAQ: AAPL) climbed $4.20 or 4.63% to $95.

Home improvement retailer Home Depot Inc. (NYSE: HD) advanced $1.30 or 5.84% to $23.55.

Shares of Verizon Communications (NYSE: VZ) added $1.96 or 6.41% to close at $32.54.

Early on Wednesday, farming equipment maker Deere & Co. (NYSE: DE) announced that its fourth-quarter net income fell to $345 million, or 81 cents a share, from $422 million, or 94 cents a share in comparable quarter in 2007. Sales rose 21% to $7.4 billion. Shares of Deere & Co. increased $2.66 or 8.04% to $35.76.

Tiffany & Co. (NYSE: TIF) reported that in the third quarter earnings fell to $44 million, or 35 cents a share from $102 million, or 74 cents a share in the same quarter in 2007. Net sales fell to $618 million from $627 million. Tiffany finished at $20.91, up 8 cents or 0.38% from previous closing.

Late on Tuesday, retailer J Crew Group Inc (NYSE: JCG) said that its third quarter net income fell 29% to $19 million, or 30 cents per share, from $26.8 million, or 42 cents per share, in the year-ago quarter. Sales totaled $363.1 million, up 9% from comparable quarter in 2007. Analysts on average had forecast earnings of 26 cents per share on revenue of $347.1 million. Shares of the company fell 22 cents or 1.99% to $10.83 in regular trade on Wednesday.

According to US Department of Commerce Department consumer spending declined 1% in October, the largest drop since September 2001. Economists had expected consumer spending to fall 1% in October. Personal Income rose 0.3% in the month after gaining 0.1% in the previous month.