NEW YORK (AP) Stocks gained big for the day on Wall Street. A report that President-elect Barack Obama plans to name New York Federal Reserve President Timothy Geithner (GYT'-nur) as Treasury secretary is getting the credit. The Dow rose 494 points but is down more than five percent for the week.

DETROIT (AP) General Motors is making more factory cuts and extending its holiday shutdown. It's part of the automaker's battle to stay in business in the face of a continuing sales slump. And Ford is extending shutdowns at two of its plants.

LIMA, Peru (AP) President George W. Bush is in Peru for the Asia-Pacific Economic Cooperation forum. His only formal business of the day is a meeting with China's President Hu Jintao (hoo jin-tow). Tomorrow, the president gives an economic speech on his final overseas trip.

Washington (AP) Senior Democratic officials say if there's no snag in the background check, President-elect Barack Obama plans to announce his choice for treasury secretary Monday. Timothy Geithner (GYT'-nur) is president of the New York Federal Reserve.

CAPE CANAVERAL, Fla. (AP) NASA Engineers are working to fix a new water recycling system on the international space station. The station's commander says glitches during flight tests are common, so he's not worried about it. The system is supposed to turn astronauts' urine and sweat into drinking water.

(Copyright 2008 by The Associated Press. All Rights Reserved.) APNP 11-21-08 1746CST | save this article / add to your favorites list