Stocks Flat Despite Auto Help

By Kevin Spak,  Newser Staff
Posted Dec 30, 2008 8:53 AM CST
Traders work on the floor of the New York Stock Exchange, Friday, Dec. 19, 2008.    (AP Photo/Richard Drew)
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(Newser) – 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.