SAN FRANCISCO, Oct 6- Volkswagen apologized for its emissions scandal in a letter to U.S. customers obtained by Reuters on Tuesday, but the German carmaker said a remedy would take time. "I am writing you today to offer a personal and profound apology. Volkswagen has violated your trust, "read the letter written by the head of the German company's U.S. arm, Michael Horn,...» Read More
Stocks rallied to their highest closes since November Monday following encouraging economic reports from the U.S. and abroad and following news that auto sales got a boost from the "Cash for Clunkers" program.
Ford Motor's sales growth outpaced its rivals from the U.S. and Japan in July, rising 2.3 percent to give the automaker its first year-over-year monthly sales increase since November 2007, thanks in part to the U.S. government "Cash for Clunkers" program.
Stocks rallied Monday after a pair of encouraging reports on the manufacturing sector, plus strong bank earnings out of Europe and expectations for strong auto sales. The S&P briefly topped 1,000, a level it hasn't seen since November.
Stocks got a quick pop at the open Monday after some strong bank earnings out of Europe and expectations that auto sales will show a boost from the "Cash for Clunkers" program. But the rally quickly fizzled.
Stock index futures indicated a strong opening for Wall Street Monday, helped by European markets that hit a broader-index high for the year on better-than-expected bank earnings.
Credit Cash for Clunkers with giving Ford the boost needed to post its first positive monthly sales in 2 years.
The Dow pulled off a modest gain Friday, capping a rocky week — and month.
The recession has hit a trough and we're past the worst month, said David Kelly, chief market strategist at JPMorgan Funds.
Stocks pared gains Friday afternoon as investors worries about the economy after this week's mixed reports.
The House voted to pump $2 billion into a popular cash-for-clunkers program running near empty, with a leading Democrat saying "consumers have spoken with their wallets."
Stocks wandered around Friday but seemed to lean higher as investors digested a pair of economic reports and news that the Obama administration wasn't suspending its "cash for clunkers" program.
Abandoned car factories, sprawling over hundreds of acres, often stand vacant for years awaiting demolition, environmental cleanup and a willing developer.
When I first heard the $1 Billion set aside by the Federal government for the "Cash for Clunkers" program was about to run out, I chuckled and thought, "well that didn't take long." It also has brought up a question as to whether or not the quick evaporation of money means the public is ready to buy cars and trucks again, or if this is a one time "flash point" of demand sparked by Federal money. My gut says it's the latter.
US stock index futures pared their gains Friday after the latest GDP report showed a better headline number than economists expected, but traders had already been anticipating that number, which pros said is why the market was rallying the past few days.
The Cash for Clunkers program has been vital towards resuscitating the US auto industry and should continue, AutoNation CEO Mike Jackson told CNBC.
He has one stock in mind. The question, though, is whether or not it still works.
Warren Buffett's bet on a Chinese electric car company is generating sparks. Bloomberg notes that Berkshire Hathaway's stake of almost 10 percent in BYD has soared in value by about $1 billion since it was first announced last fall. The purchase was completed today at the September price after the China Securities Regulatory Commission gave its approval for the deal
General Motors will end its half-century run as sponsor of the Buick Open golf tournament as it tries to focus scarce marketing dollars on its cars and trucks, a person briefed on the decision said Tuesday.
The first study of drivers texting inside their vehicles shows that the risk sharply exceeds previous estimates based on laboratory research - and far surpasses the dangers of other driving distractions.
With so many people holding onto their car or truck longer, it's only natural folks are asking if they have a car that qualifies for the Cash for Clunker program. The fact is, most of us will not qualify for the federal program which kicked off this weekend. That's primarily because of the restrictions Washington has placed on the program.