The market staged a big advance in the next to last session of 2008 Tuesday after Washington's latest lifeline to the auto industry bolstered hopes that the government will do whatever is necessary to cut short the recession. Investors found solace in news that GM's troubled financing arm, GMAC, received $5 billion of financing from the $700 billion bank rescue program. The Dow rose 184.46, or 2.17 percent, to 8,668.39. The S&P 500 rose 21.22, or 2.44 percent, to 890.64; while the Nasdaq added 40.38, or 2.67 percent, to 1,550.70.
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Posted
12-30-2008 5:53 PM
by
Dave Dispennette