Stocks rise on optimism about Detroit bailout

AP News

NEW YORK (AP) — Wall Street has regained some of its optimism and is rising on expectations that Congress will extend a lifeline to U.S. automakers and avoid a potential pitfall for the economy.

Lawmakers are believed to be close to approving a $15 billion bailout for Detroit. The move is seen as likely to save jobs.

Signs of fear in the Treasury market have eased somewhat. The four-week bill auctioned with a zero percent yield on Tuesday has seen that rate increase.

After a sell-off Tuesday, the Dow Jones industrials are up 100 at the 8,792. Broader indexes are showing similar advances.


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