Stocks have reversed steep morning losses to push higher Thursday after aides to a bipartisan group of senators say they have reached a compromise to funnel emergency loans to Detroit's car makers.
Republicans and Democrats from states with automakers plan to present the proposal at a mid-afternoon news conference Thursday though it was unclear whether the plan could win support of the Senate.
The Dow Jones industrial average, which had been down as much as 223 points early in the session, rose 66.90, or 0.84 percent, to 8,064.18. The blue chips fell 423 points Wednesday.
The Standard & Poor's 500 index rose 0.31 percent, while the Nasdaq composite index rose 1.04 percent.
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