Nervous Dow Rises 70

Commodities, financials move in opposite directions
By Matt Cantor,  Newser User
Posted Dec 10, 2008 3:24 PM CST
Traders work on the floor of the New York Stock Exchange, Wednesday, Dec. 10, 2008.   (AP Photo/Richard Drew)
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(Newser) – Markets ended with modest gains today as commodities got a boost and financials dropped, the Wall Street Journal reports. Meanwhile, fears over the struggling auto bailout spurred some flip-flopping, Bloomberg notes. The Dow rose nearly 190 points before settling down to finish up 70 points. The S&P climbed 11 points to 899, and the Nasdaq rose 18 to 1,565.

Investors have been feeling a bit more optimistic in the past few days, hoping that earlier dives had provided a cushion, the Journal notes. “There comes a point when the stock market has to look forward, and we may be reaching it,” says one economist. But some lawmakers’ opposition to the bailout worried traders. “The uncertainty is really the key,” says an investor.