Updated from 11:02 a.m. EST
Stocks in New York were rising from early lows to turn positive Wednesday, as traders eyed the prospect of a bailout for the automakers and appeared to shrug off several disheartening economic reports.
The Dow Jones Industrial Average, down some 184 points earlier, was lately adding 45 points at 8464, and the S&P 500 was gaining 7 points to 855. The Nasdaq tacked on 18 points to 1467.
Traders were closely watching the automotive sector as the Big Three U.S. car manufacturers continued to petition Congress for emergency funds. Ford (F Quote) and General Motors (GM Quote) on Tuesday had presented business plans to Congress in hopes of garnering a federal bailout. General Motors asked for $12 billion in low-interest financing and a $6 billion line of credit, and Ford requested $9 billion in government aid. ...
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