U.S. stocks rally Tuesday

NEW YORK, Dec. 30 (UPI) -- U.S. markets rose Tuesday after the Treasury said it would supply $6 billion for struggling automotive financial firm GMAC.

Seen as critical for General Motors Corp., the Treasury said late Monday it had already closed on a $5 billion equity purchasing plan and would loan General Motors $1 billion to invest in GMAC.

On a day void of major financial reports, the Dow Jones industrial average closed up 184.46 points, or 2.17 percent, to 8,668.39. The Standard & Poor's 500 gained 2.44 percent, 21.22 points, to 890.64. The Nasdaq composite index rose 2.67 percent, 40.38 points, to 1,550.70.

On the New York Stock Exchange, 1,548 stocks advanced and 591 declined on a volume of 3.5 billion shares traded.

The benchmark 10-year U.S. Treasury bond rose 10/32 to yield 2.082 percent.

The euro rose to $1.4074 compared to Monday's $1.3971. Against the Japanese yen, the dollar fell to 90.27 yen from Monday's. 90.61 yen.

In Tokyo, the Nikkei average gained 112.39 points to 8,859.56, up 1.28 percent.

In London, the FTSE 100 index gained 73.33 points, 1.7 percent, to 4,392.68.