Stocks continued their holiday nap today, opening only modestly higher despite an expansion of the auto bailout. The Dow rose 57 points, while the Nasdaq and S&P each rose 0.6%. GM and Ford climbed11% and 2.7% respectively on news that the government would toss $6 billion to GMAC, GM’s lending arm.
Volume remained low, as traders ducked out for the holidays and look ahead to 2009. Dow Chemical rose 0.5%, despite a credit downgrade from both Moody’s and S&P. Oil fell slightly to $39.62, after a rally yesterday.