General Motors filed for Chapter 11 bankruptcy protection Monday and all eyes are on the U.S. government's 60 percent equity stake in the auto maker. What does this bode for the stock market? Art Cashin, UBS Financial Services director of floor operations, offered CNBC his insights.
President Barack Obama is defending the government's intervention in the auto industry, saying the collapse of GM and Chrysler would have been devastating for the economy and American workers.
Stocks advanced Monday as investors were encouraged by economic reports out of China and the U.S. and shrugged off the General Motors bankruptcy filing.
John Wolkonowicz, senior analyst at IHS Global Insight, and Alex Taylor, senior editor at Fortune Magazine, discussed the General Motors’ bankruptcy and the future of the automobile industry.
With Chrysler and General Motors in bankruptcy and under the ‘de facto’ if not ‘de jure’ management of the U.S. Government, the hue and cry emanating from the pundits and politicians and television journalists and on and on wails, “What is left of the American auto industry?”
Somewhere Walter P. Chrysler and Alfred Sloan are shaking their heads. The men who left an indelible impression on the American auto industry must be watching what will happen today and wonder, "do these guys really have a shot at making it?"
Stock index futures rose ahead of the open Monday after a report showed personal income rose in April and investors largely shrugged off the General Motors bankruptcy filing.
Stocks capped a winning month with a 1-percent rally Friday as traders squeezed in a few last-minute trades to close out the month of May. Investors were encouraged by a jump in consumer sentiment and less-bad GDP report. Oil stocks benefited from the rise in oil prices. Dell ended higher after beating its earnings target. GM ended at 75 cents a share.
Visteon, the top supplier to and a former subsidiary of Ford, filed for bankruptcy protection on Thursday, citing liquidity and debt problems, and turmoil in the automotive industry.
Stocks made another break higher Friday as investors were encouraged by a jump in consumer sentiment and less-bad GDP report. Oil stocks benefited from the rise in oil prices. Dell shot out of the gate after beating its earnings target but other techs were slow to follow. GM fell below $1.
Plus, Cramer makes the call on retail, autos, gold and more.
Stocks wobbled Friday as investors were encouraged by a jump in consumer sentiment less-bad GDP report but still remained a bit jittery. Dell shot out of the gate after beating its earnings target but other techs were slow to follow. GM fell below $1.
After five months and $19.4 Billion in federal aid, three restructuring plans, and the removal of one CEO, General Motors is locked, loaded, and ready to file for Chapter 11 Bankruptcy protection on Monday.
Stocks ended higher Thursday as crude prices climbed after an inventory pare-down and the results of the Treasury bond auction eased concerns about government debt.
Peter Kenny, managing director at Knight Equities and Paul Hickey, co-founder of Bespoke Investment Group weighed in on the best places to invest now.
Stocks rebounded on Thursday as crude prices climbed. The market had gotten off to a wobbly start, as investors juggled a bleak report on new-home sales with the unexpected drop in jobless claims and GM's deal with bondholders. Here's what the experts had to say...
It's never a wise thing to predict a smooth bankruptcy. Especially when you you are dealing with a company as large, as complex, and as loaded down with debt as General Motors.
Stocks rebounded Thursday as crude prices climbed after inventories were pared more than expected. Stocks had gotten off to a wobbly start as investors juggled a bleak report on new-home sales with any optimism from the unexpected drop in jobless claims and GM's deal with bondholders.
A sharp jump in 10-year Treasury yields scared stock-market watchers, even as the auction of new 5-year notes was well received. And mortgage rates, especially the 30-year fixed rate, ticked higher. Art Cashin, UBS Financial Services director of floor operations, offered CNBC his market insights.
Stocks retreated Thursday, after a higher open, as bleak report on new-home sales overshadowed any optimism from the unexpected drop in jobless claims and GM's deal with bondholders.