'Fast Money' Recap: Bailout Weighs on the Market

The bulls eked out a modest rally at the end of Wednesday's trading session as the uncertain fate of the auto bailout bill weighed heavily on the markets.

The Dow Jones Industrial Average was up 70.09, or 0.8%, to 8761.42, while the S&P 500 rose 10.57, or 1.2%, to 899.24. The Nasdaq was up 18.14, or 1.2%, to 1565.48.

Jeff Macke said on CNBC's "Fast Money" TV show that the market performed well and showed some stability with the S&P at the 900 level.

Karen Finerman said it was difficult for her to figure the market action, with oil rising despite an increase in inventories and China going up despite bad numbers coming out of the country.

Tim Seymour said the commodities are rising because the economies around the world are "reflating."

Dylan Ratigan, the host of the show, asked the trading panel for their comments on the credit problems of companies such as American Express (AXP Quote), which was down 8% after Citigroup rated it a sell, and Wells Fargo (WB Quote) which moved lower after a downgrade from Merrill Lynch.

Finerman said she is short Capital One (COF Quote). "They have a big portfolio of auto loans, and they have some international credit card exposure," she said.

Adami was optimistic about a rebound for Mastercard (MA Quote), saying people will use plastic when they start spending again.

Ratigan asked CNBC's political reporter John Harwood for an update on the auto bailout talks. Harwood said the bill is in trouble. He believes there are enough votes in the House to get it through, but the problem is in the Senate, where Republican senators are resisting because they feel they weren't included in talks between the Democrats and White House.