Stocks Flat Despite Auto Help

Stocks continued their holiday nap today, opening only modestly higher despite an expansion of the auto bailout. The Dow rose 57 points, while the Nasdaq and S&P each rose 0.6%. GM and Ford climbed11% and 2.7% respectively on news that the government would toss $6 billion to GMAC, GM’s lending arm.

Volume remained low, as traders ducked out for the holidays and look ahead to 2009. Dow Chemical rose 0.5%, despite a credit downgrade from both Moody’s and S&P. Oil fell slightly to $39.62, after a rally yesterday. (More New York Stock Exchange stories.)