New York markets were higher at midday on Thursday.
The Dow Jones Industrial Average was 1.09 percent higher to 13,436.59, while the Nasdaq Composite had added 0.48 percent to 2,604.51 and the S&P 500 had gained 0.96 percent to 1,485.69.
Investor confidence was enhanced after Countrywide Financial (NSYE: CFC) said it has managed to secure $12 billion in credit, making it less likely that it would fall to the subprime crisis.
The Dow was up on gains in the fast food and automobile manufacturing sectors.
General Motors (NYSE: GM) and Ford Motor (NYSE: F) were both up after United Auto Workers President Ron Gettelfinger said he might okay a union-run trust fund for employee health care.
Ford added 34 cents to $7.85, while GM gained $2.38 to $32.62.
In the retail sector, Target (NYSE: TGT) was $1.37 higher to $64.09 after it said it would look at whether it will keep $7 billion in credit card receivables.
Fast food chain McDonald’s was up $2.94 to $54.14 after it said it would up its dividend by 50 percent.
Decliners on the day included chipmaker Intel (NAS: INTC; SEHK: 4335), which dropped 12 cents to $25.34 and media empire Walt Disney (NYSE: DIS), down 5 cents to $33.67.