CNBC.com's News Now: GMAC Gets a Lifeline

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DOW 8668.39 184.46 +2.17% NASDAQ 1550.7 40.38 +2.67% S&P 890.64 21.22 +2.44%   Tuesday, Dec. 30, 2008   WHAT YOU SHOULD KNOW     Stock Picker: Don't Miss Super-Short Rally! Jack Hough is so convinced that the stock market is ready to rally that he's written a book about it, Your Next Great Stock. "It's possibly the worst-selling book in America right now, because absolutely no one wants to talk about stock picking," the SmartMoney columnist admitted to CNBC. "I should have written one of these 'doom-and-gloom' books." So what's behind his enthusiasm...read more     Stocks Rally 2% on Auto Bailout, Tech Gains Stocks rallied to the finish line as investors shrugged off a drop in consumer confidence and cheered the bailout of General Motors' finance arm...read more     GM Sees Boost From GMAC Bailout, Easier Credit General Motors expects to see a boost to sales as low-cost loans made possible by the federal bailout of finance company GMAC reach showrooms, the automaker's sales chief said Tuesday...read more     TODAY'S TOP 5 VIDEOS     1. GMAC Gets a Lifeline GMAC will get a total of $6B in aid from the Treasury, with Paul Kedrosky, TheStreet.com columnist     2.Consumer Confidence Data A look at the December numbers, with Stephen Gallagher, Societe Generale; Jack Ablin, Harris Private Bank and CNBC's Rick Santelli     3. Falling Fed The Fed, with $2.4 trillion in assets and $40 billion in capital, is leveraged 50 to 1. Robert Shiller, Yale economics professor, and Jeremy Seigel, Wharton finance professor, share their insight.     4.Nobel Thoughts On the Economy Insight on how soon the recession will end, with Edmund Phelps, Nobel Laureate/Columbia University professor.     5. Blog Reporting Steve Jobs Health Decline A technology blog is reporting that Apple CEO Steve Jobs is in declining health. CNBC's Jim Goldman has the details.     Click here to view all of today's top videos on CNBC.com     CNBC.com BLOG OF THE DAY     MLB Salary Cap? Ridiculous! Milwaukee Brewers owner Mark Attanasio said baseball may need a salary cap to "preserve competition." Maybe he can't sign the same players as the NY Yankees — but who cares? It's a bad argument. See All CNBC.com Blogs   Watch CNBC live on your desktop. Click here to find out how.   NEWS MARKETS EARNINGS INVESTING VIDEO CNBC TV CNBC PLUS

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