Stocks Up Amid Bailout Uncertainty

(AP)  Wall Street resumed its rally Wednesday, rising moderately as investors saw rebounding commodities prices as a reason to snap up energy and materials stocks.

Commodities prices that have been skidding lower for months turned around as investors seemed to have more of an appetite for risk. Gold picked up more than $36 an ounce. That advance spilled over to the stock market, lifting energy stocks including Exxon Mobil Corp., which rose 2.4 percent, and mining company Freeport-McMoRan Copper & Gold Inc., which added 16 percent.

Shifting sentiment over a possible bailout deal for Detroit's Big Three automakers tugged at stocks throughout the session. That had major indexes alternating between gains and losses in afternoon trading and dragged financial stocks lower. Financial houses that hold investments in the car companies could see further strain on their balance sheets if big players like General Motors Corp. file bankruptcy.

The session's gains represent the continuation of the market's advance since late November. It has been punctuated by a few steep selloffs, including Tuesday's slide. But most trading had been more subdued than in September and October. The less panicked tone has helped boost confidence that the market might be stitching together a sustainable bottom.

Wall Street remains nervous about the level of opposition to efforts to aid U.S. automakers. Democrats in Congress and the White House finalized an agreement on $14 billion in loans for Detroit's struggling car companies. However, the plan negotiated by the White House is being opposed by a group of conservatives led by Sen. John Ensign, a Nevada Republican.

The proposal would provide relief for General Motors Corp. and Chrysler LLC. Ford Motor Co. Chief Executive Alan Mulally and Executive Chairman Bill Ford Jr. told The Associated Press Tuesday they don't need to take the bailout.

According to preliminary calculations, the Dow Jones industrial average rose 70.09, or 0.81 percent, to 8,761.42. On Tuesday, the Dow shed 243 points as investors after disappointing corporate news reminded investors of the magnitude of the economy's troubles. Stocks have rallied for two sessions before the decline.

Broader stock indicators advanced. The Standard & Poor's 500 index rose 10.57, or 1.19 percent, to 899.24, and the Nasdaq composite index rose 18.14, or 1.17 percent, to 1,565.48.

The Russell 2000 index of smaller companies rose 10.69, or 2.30 percent, to 476.40.

[liuuu-2009]

BOYCOTT CHINA TO SAVE CHRIST

Can you imagine atheistic Communist China will continue to have 8% GDP growth as Christian nations suffer recession in this wave of economic turmoil.

Will this mean God is dead!

Probably not, God expresses concern over human rights in China. Stop buying Chinese products is the only way to have democracy grown & communism diminished.

[steveherb1]

The most ruthless heartrending blow to the public is Ford stating they have enough money to survive after so many of their vehicles have caught fire, burned homes, and took lives as they leave the victims helpless. Consumeraffairs.com

[serf_1]

One of two things will happen at this point. Our country will default on its debt, or hyperinflation. It''s mathematically impossible to repay the debt by taxes at this point especially when there is going to be less workers to pay into the system. it''s only a matter of time before the system collapses from this point. Either way it''s the destruction of our currency. Save your money...

[whitemale08]

Another ''sucker''s rally'' that is such denial.

THE GLOBAL FINANCIAL SYSTEM IS DEAD!!!!

CANCEL THE DERIVATIVES MARKET NOW OR DIE!!!!!

WE CANNOT BAILOUT OVER A QUADRILLION IN DERIVATIVES!!!!!

WE MUST SHUT-DOWN THE DERIVATIVES MARKET AND THE BANKRUPT FEDERAL RESERVE SYSTEM OR DIE!!!!!!!

[jfrance5]

The reason our economy is in the shape it is in, is because it has been fueled by corruption from the top to the bottom. Money is an addiction. People that are used to "stealing" huge amounts of it aren''t going to change their stripes just because we are all going down the toilet. Graft and corruption isn''t going to change because the perps are promising to go to Sunday School. Throwing all of this money around without a bit of real oversight is like sticking the fox back into the hen house to protect the chickens. We have a bunch of monkeys trying to solve a very large mathmatical formula with nothing to work with but a big belly full of bananas stolen from the public tree. Until people wake up and throw this bunch out, it''s only going to get worse.