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Empresas y finanzas

Stocks open up on expanded auto bailout


    NEW YORK (Reuters) - Major markets opened higher on Tuesday, after Washington expanded its bailout of the auto industry, while volume was expected to be light in the holiday-shortened week.

    * Late Monday, the Bush administration said it was increasing a loan to General Motors by $1 billion and buying $5 billion in equity in GMAC, GM's finance arm.

    * Oil prices fell below $40 a barrel as concerns over the outlook for global growth overshadowed continuing tensions in the Middle East.

    * The Dow Jones industrial average was up 55.83 points, or 0.66 percent, at 8,539.76. The Standard & Poor's 500 Index was up 4.29 points, or 0.49 percent, at 873.71. The Nasdaq Composite Index was up 9.72 points, or 0.64 percent, at 1,520.04.

    (Reporting by Ryan Vlastelica; Editing by Tom Hals)