* Auto bailout bolsters economic hopes * Large-cap tech companies lift Nasdaq * Consumer confidence, home prices at record lows * Dow up 2.2 pct, S&P up 2.4 pct; Nasdaq up 2.7 pct * For up to the minute market news, please click on [STXNEWS/US]. (Adds context to Dow) By Chuck Mikolajczak NEW YORK, Dec 30 (Reuters) - U.S. stocks climbed on Tuesday after the government expanded its bailout of the auto industry, bolstering hopes lawmakers would continue to take steps to minimize the severity of the year-long recession. The Bush Administration said late Monday it would extend an additional $1 billion loan to General Motors Corp (GM.N) and take a $5 billion stake in the automaker's financing arm, GMAC, in the latest move to ease the credit crisis. "The GMAC news is the driver of the lot." said Steve Sachs director of trading at Rydex Investments, Rockville, Maryland. "The government has been telling us for months that they will do whatever it takes and there is probably more of it in store as we get to the inauguration and a few weeks past that." The Dow Jones industrial average .DJI rose 184.46 points, or 2.17 percent, to 8,668.39. The Standard & Poor's 500 Index .SPX gained 21.21 points, or 2.44 percent, to 890.63. The Nasdaq Composite Index .IXIC added 40.38 points, or 2.67 percent, to 1,550.70. The Dow is down 1.8 percent month-to-date after closing down 5.3 percent in November and 34.7 percent year-to-date. The S&P has risen almost 18 percent since hitting an 11-year low on Nov. 20, but is still down about 40 percent for 2008. The Nasdaq was boosted by shares of big-cap technology companies that have larger cash reserves and are seen as better positioned to withstand the economic slump. Shares of Qualcomm Inc (QCOM.O), the wireless chip maker, rose 2.5 percent to $34.94, while software maker Oracle Corp (ORCL.O) gained 3.5 percent to $17.83, putting them among the top boosts on the Nasdaq. International Business Machines Corp (IBM.N) was the leading advancer on the Dow, rising 2.8 percent to $83.55. Investors shrugged off another round of economic reports that pointed to a deepening recession. Prices of single-family homes plunged a record 18 percent in October, while consumer confidence also fell to a record low. [ID:nN30339924] In an effort to stem the tide of the recession, U.S. lawmakers have extended aid to a slew of companies, most recently to automakers GM and privately held Chrysler LLC. On Tuesday, GMAC announced easier financing terms for car and truck buyers and GM announced zero percent financing for some vehicles, which could help bolster sales. For details, see

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