Auto Bailout Hopes Lift Stocks

Wall Street is maintaining its optimism about a potential government lifeline for the U.S. automakers and largely looking past a sharp drop in wholesale inventories.

The Commerce Department said Wednesday wholesale inventories plunged by 1.1 percent in October. It is the largest drop in seven years.

Investors' relief over prospects for the automakers is dominating trading. Lawmakers are believed to be close to approving a $15 billion bailout for Detroit.

The Dow Jones industrials are up 67 at the 8,758 level.