Stocks opened slightly higher Thursday after a report showed jobless claims fell last week.
Stocks were headed for a flat open after futures pared gains on dismal sales reports from some of the nation's largest retailers.
Stocks snapped a four-day winning streak Wednesday after a trio of weak economic reports tarnished the shine on recovery hopes. Wal-Mart led the few Dow gainers after an analyst's remarks.
In an opening statement before questioning GM CEO Fritz Henderson and Chrysler President Jim Press, Sen. Haynes said, "The deal is done." It was a painfully succinct summary of why thousands of auto dealers upset about losing their affiliations with GM and Chrysler are unlikely to find relief in Washington.
Top executives of bankrupt General Motors and Chrysler defended slashing their dealer networks, telling Congress on Wednesday that eliminating more than 2,300 dealerships was crucial to saving the companies.
Hummer owners are an unusual breed, but a little-known Chinese company's surprise purchase of the American maker of gas-guzzling, military-style SUVs is audacious even by their standards.
Stocks pared their losses Wednesday after a trio of weak economic reports got the market off to a lower start. Wal-Mart led Dow gainers after an analyst's remarks.
With new-car sales touching low levels not seen in decades, and with G.M. and Chrysler forced to shut plants as they struggle through bankruptcy, prospects for small auto-supply factories seem grim.
Stocks retreated Wednesday as a weak ADP report on the employment situation, and misses on both ISM services and factory orders offered a reminder that the economy isn't out of the woods.
Today on Capitol Hill, the Senate Commerce Committee will question GM CEO Fritz Henderson and Chrysler President Jim Press about their moves to close roughly 2000 dealerships. For all the importance that comes with a Congressional hearing, don't expect much to change after this one.
Stock index futures pointed to a lower open Wednesday ahead of key jobs and mortgage data and comments from Federal Reserve Chairman Ben Bernanke on the state of the economy.
Stocks were two for two for June, notching another gain Thursday as investors were encouraged by the sharpest jump in pending-home sales in 7 1/2 years. But financials sat this one out following a new round of stock offerings.
Is GM’s decision to file for chapter 11 what the company needed for a reboot and restart? Although it’s hard to tell at this point, optimists are confident.
General Motors is already hard at work, trying to win back consumers with a new advertising campaign.
There’s an almost palpable lack of confidence that General Motors will exit bankruptcy as a leaner, meaner, stronger company. However, the game plan is basically to envision the New General as a sort of American Toyota, with a tidy lineup of brands to manage and an appealing fleet of economical, fuel-efficient vehicles to sell. Sedans and small, gas-sipping cars will be the future, not the fuel-chugging trucks and SUVs that got GM in trouble.
General Motors has reached a preliminary agreement for the sale of its Hummer brand of large sport utility vehicles and pickup trucks to a machinery company in western China with ambitions to become a carmaker, a person familiar with the Chinese government approval process said Tuesday.
Stocks retreated Tuesday after getting a boost in morning trading from the sharpest jump in pending-home sales in 7 1/2 years.
For decades, the United Automobile Workers had a simple strategy for getting what it wanted from the carmakers — it would go on strike. The tactic proved so successful that the mere threat of a walkout often won better wages, benefits and job security.
Stocks rebounded off a lower open Tuesday after a report showed the sharpest jump in pending-home sales in 7 1/2 years.
Over the next few months, Mr. Obama and his auto task force will face many tests as they try to create a new paradigm for the nationalization, however temporary, of a storied and troubled emblem of American industry.