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Empresas y finanzas

Wall Street extends gains


    NEW YORK (Reuters) - Stocks rose on Tuesday after Washington expanded its bailout of the auto industry, boosting hopes about the government's ability to limit the severity of the year-long recession.

    * "The bulls believe the amount of cash on the sidelines will start to come back into the market in the new year as portfolios are reallocated more toward equities and out of cash, which is earning nothing," said Tim Ghriskey, chief investment officer of Solaris Asset Management in Bedford Hills, New York.

    * The Dow Jones industrial average rose 72.72 points, or 0.86 percent, to 8,556.65. The Standard & Poor's 500 Index added 8.67 points, or 1.00 percent, to 878.09. The Nasdaq Composite Index gained 17.45 points, or 1.16 percent, to 1,527.77.

    (Reporting by Deepa Seetharaman, Editing by Chizu Nomiyama)