Market Creeps Up on Bailout Hopes

By SARA LEPRO and TIM PARADIS
|  Friday, Dec 12, 2008  |  Updated 4:26 PM EDT
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Market Creeps Up on Bailout Hopes

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It was another yo-yo day on Wall Street, with stocks winding up.

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Wall Street has set aside fears about a collapse of the U.S. auto industry, and closed higher in another sign that it's able to absorb troubling news.
 
The market recovered from the heavy selling at the start of the session following the Treasury Department's announcement it is prepared to funnel cash to the nation's Big Three automakers.

 
Wall Street has in recent weeks managed to react coolly to troubling economic and corporate news, and Friday was another instance of its resilience.
 
The Dow Jones industrials are ending up 64, or 0.75 percent, at 8,629. The tech-heavy NASDAQ composite index is ending with steeper gains.

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