DETROIT, Aug 27- This week's fall in equities markets is not expected to have a major impact on August U.S. auto sales, industry consultants J.D. Power and LMC Automotive said on Thursday. This is "due to a quirk in the calendar" that pushes results of Labor Day weekend sales into September, JD Power and LMC said. While Labor Day is always in September, automakers normally...» Read More
In this Web Extra the traders reveal how they're playing Friday's jobs report, the Big 3 bailout hearings and more!
The Big Three CEOs returned to Washington to meet with the Senate Banking Committee today, as AT&T and other companies reported job cuts. Following are today's top videos:
Orders to U.S. factories plunged in October by the sharpest amount in over eight years as a deepening recession caused big cutbacks in demand for steel, autos, computers and heavy machinery. Analysts expect the weakness will continue for some time.
In this Web Extra find out how the traders are playing Thursday's market moving events including financial guidance from Merck, retail numbers and more.
Stocks overcame an array of dismal economic reports and rode hopes that the market may have achieved at least a temporary bottom to close higher Wednesday.
Yesterday we learned that the windy city wants to lease its parking meters to a private company that would raise daytime hourly parking rates in downtown Chicago from $3 now to $6.50 by 2012. Sound exorbitant?
Chrysler Vice Chairman Jim Press reiterated the need for government aid to help support the auto industry as he travels to hearings in Washington, D.C.
At his news conference this morning, where he introduced New Mexico Gov. Bill Richardson as Commerce-secretary designate, President-elect Obama refused to play his hand on the Detroit/GM bailout story. That tells me he’s aware that the country is getting fed up with the thought of bailout nation.
The stock market was far off its morning lows, coming close to turning positive, as investors shook off a handful of weak economic reports and snapped up biotech shares and other defensive plays.
The current problems facing the automotive industry are a result of consumer fear, not the Big Three U.S. automakers, according to John Bergstrom, CEO of Bergstrom Automotive, one of America’s most powerful car dealership groups.
Chrysler's plan may be the most troubling, largely because it shows how much money the company needs right away. Chrysler wants $7 Billion by the end of the year. Chrysler's plan also talks about the "synergies" that would be derived from Chrysler being consolidated with another auto maker.
Stocks were set to give back some of their sharp gains from Tuesday's session but were off their morning lows after data showed a sharp increase in mortgage applications last week.
U.S. light vehicle sales at General Motors and Chrysler plunged more than 40 percent in November, while Ford's sales dropped 31 percent, battered by an economic storm that has sent consumer demand for new vehicles to lows not seen in decades.
A number of small companies are angling for a piece of a $25 billion auto industry loan program, set up by the Department of Energy to quicken the development of fuel-efficient cars.
The Big Three will become two, Detroit will need more help from the government, SUVs will enjoy a modest rebound and electric cars will fire up the industry.
This time, GM Chief Rick Wagoner will drive a company car to Washington instead of flying by corporate jet as he seeks a government bailout, a spokesman says.
Today is the day we see in clear detail how bad things are for Detroit's auto maker, and what they plan to do to fix the mess. It's a mix of bad news and hopeful promises.
For the Big Three automakers to win over Washington lawmakers in their bid for federal aid, they will have to address a critical question in the business plans they give to Congress on Tuesday.
Washington’s been a lot harder on Wall Street than you might think. Here’s why the Citi rescue is a signal to buy.
In this Web Extra the traders reveal how they're playing Sears, Beazer Homes, the automakers and more.