Stocks Bounce on Bailout Hope

Dow up about 90
By Kevin Spak,  Newser Staff
Posted Dec 10, 2008 8:56 AM CST
Stocks Bounce on Bailout Hope
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)

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. (Read more stock market stories.)

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