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Wall Street opens higher after GMAC financing

Wall Street opens higher after GMAC financing

Wall Street is moderately higher in early trading as investors draw some comfort from the government's decision to provide $5 billion to General Motors Corp.'s troubled financing arm.
It was expected that the Treasury Department would give aid to GMAC Financial Services LLC, but the government's Tuesday announcement nonetheless has given stocks some support.
Investors are awaiting some insight into the mood of consumers from the Conference Board's Consumer Confidence Index for December, due to be released at 10 a.m. EST (1500 GMT).
With many traders away for the holidays, stocks have shown small moves in light volume in recent sessions. Most investors are looking past 2008 for clues about how stocks will fare in the coming year.
The Dow Jones industrial average is up 61 points at the 8,545 level.
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Updated : 2021-08-01 18:57 GMT+08:00