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
* 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 <.DJI> was up 55.83 points, or 0.66 percent, at 8,539.76. The Standard & Poor's 500 Index <.SPX> was up 4.29 points, or 0.49 percent, at 873.71. The Nasdaq Composite Index <.IXIC> was up 9.72 points, or 0.64 percent, at 1,520.04.
(Reporting by Ryan Vlastelica; Editing by Tom Hals)
