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SUNDAY, NOVEMBER 8, 2009
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Stocks Bounce on Bailout Hope

Dow up about 90

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(Newser) – Stocks took a modest bounce this morning, as anticipation over an auto bailout outweighed weakness in financials. The Dow rose 116 points, while the Nasdaq and S&P climbed 1% and 1.2% respectively, the Wall Street Journal reports. AIG shares were down 5% premarket after the Journal reported that the insurer needed another $10 billion to cover speculative trades, while Eastman Kodak dropped more than 6% after it pulled its fourth-quarter forecast.

A screen at a trading post on the floor of the New York Stock Exchange charts the Dow Jones Industrial Average Monday, Dec. 8. 2008.
A screen at a trading post on the floor of the New York Stock Exchange charts the Dow Jones Industrial Average Monday, Dec. 8. 2008.   (AP Photo/Richard Drew)
The Wall St. street sign is photographed in front of the American flag hanging on the New York Stock Exchange in New York.
The Wall St. street sign is photographed in front of the American flag hanging on the New York Stock Exchange in New York.   (AP Photo/Mary Altaffer, File)
Trader Michael Doyle watches the numbers from the floor of the New York Stock Exchange during the last hour of trading, Monday Dec. 8. 2008.
Trader Michael Doyle watches the numbers from the floor of the New York Stock Exchange during the last hour of trading, Monday Dec. 8. 2008.   (AP Photo/Richard Drew)
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