NEW YORK (Reuters) - Stocks pared gains on Friday and the Dow turned negative on dwindling investor confidence that the $17.4 billion lifeline extended by U.S. lawmakers to ailing automakers would have a lasting effect.
* "This is just a temporary holdover for the next few months," said Giri Cherukuri, head trader at OakBrook Investments LLC, in Lisle, Illinois. "It's not a true solution to the problem."
* The Dow Jones industrial average <.DJI> edged down 16.72 points, or 0.19 percent, to 8,588.27. The Standard & Poor's 500 Index <.SPX> rose 1.78 points, or 0.20 percent, at 887.06. The Nasdaq Composite Index <.IXIC> gained 11.14 points, or 0.72 percent, to 1,563.51.
(Reporting by Deepa Seetharaman; Editing by Jan Paschal)
