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Stocks End Mixed On Auto Bailout Announcement

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Dec 19, 2008 3:00 pm US/Central

Stocks End Mixed On Auto Bailout Announcement

 Timeline: U.S. Credit Crunch & Financial Failures

 View Market Summaries & Leading Stock Changes
NEW YORK (AP) ― Stocks have ended a choppy day mixed as investors remain uncertain that a $17.4 billion lifeline for automakers will make a lasting difference for the beleaguered industry.

The Dow rose by as much as 182 points in the early going, turned lower at midday, recovered in the afternoon but then lost ground again in the last hour of trading.

Investors are relieved that the White House's efforts have staved off a bankruptcy that could have sent a blow to the economy, but they're worried that the conditions of the financing might be difficult for GM and Chrysler to meet.

At the close, the Dow is down about 25 points to the 8,579 level. The broader Standard & Poor's 500 index and Nasdaq composite index are up less than 1 percent.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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