Newzonline

After a considerable upward move in the previous session, stocks saw some further upside over the course of the trading day on Friday. A late-session rally helped the major averages to finish the month of May on a high note, further building on recent gains. The gains helped the major averages close higher for both the week and the month of May. The Dow rose 4.1 percent for the month, adding to the gains posted in both March and April.

Even with some competition for family audiences from “Night at the Museum: Battle of the Smithsonian,” the Disney-Pixar film “Up” will have no problem being the number one draw of the weekend and should eclipse $60 million. Also getting a wide release is “Drag Me To Hell,” a PG-13 horror release directed by Sam Raimi of the “Spider-Man” franchise. Because they should appeal to completely separate demographics, both releases should get off to strong starts in a very busy overall weekend.

The United Auto Workers announced Friday that General Motors (GM) employees had ratified a cost-cutting deal designed to help the struggling automaker. Under the plan, some benefits for retirees will be cut. It also gives up to 20% of the equity of GM to a union retiree health care fund once the company restructures, with the option to buy an additional 2.5% stake in the company.