Although the Dow closed at its highest level since January 6th, Tony Dwyer, equity market strategist with FTN Equity Capital Markets, isn't convinced a recovery is imminent. But for David Kelly, chief market strategist with JPMorgan Funds, it's a sign the "economic fog" is starting to clear.
This one is for Wally Griffith. Wally was the executive producer of the "Saving GM" and "Saving GM: Inside the Crisis" documentaries. He would ask the same question time and again: Why does GM own Saab?
The automobile sector broke out of its downward trend this spring, according to Royce Tostrams, technical analyst at Tostrams Groep.
Cramer makes the call on viewers' favorite stocks.
After stocks took a quick dip following the latest Treasury auction, markets resumed their ascent on Thursday. At first glance, the auction results sent investors out of stocks and into the relative safety of bonds; but after further consideration, they jumped back into stocks. Read and listen to what the pros had to say…
Ford will likely trade more of its debt for equity, and sell more common stock, so it can improve its balance sheet until the company can become profitable in 2011, said CEO, Alan Mulally on Thursday.
Foreclosure filings in May dropped 6 percent from April — but were still up 18 percent from May 2008. Meanwhile, sales at U.S. retailers rose in May and initial jobless claims fell for a fourth straight week. Art Cashin, UBS Financial Services director of floor operations, offered CNBC his market insights.
When the federal General Services Administration announced this week that it had spent $287 million in stimulus money to buy 17,205 new cars, it turned out that the biggest beneficiary was the Ford Motor Company.
Stocks opened slightly higher on Thursday after reports showed jobless claims fell by 24,000 last week to 601,000 and retail sales ticked higher in May. Bond yields will also be in focus today as the results of the government's 30-year Treasury auction are due out at 1pm ET. Experts weighed in on the above and more. Read and listen to what they had to say…
I can already hear the groans from fans of micro cars and the chortling from those who think the public is nuts to be excited over sub-compact cars.
Within an hour of signing the papers officially creating a new Chrysler that is out of bankruptcy and in an alliance with Fiat, Marchionne sent an e-mail to Chrysler employees.
The economic crisis has been so severe that Michigan, with a $1.4 billion budget shortfall, is closing eight prisons to save money. It is also canceling more than 130 road and bridge repair projects because the state cannot come up with enough money to get matching federal funds.
Forty days. In the world of corporate bankruptcies, I guess you could call that a quick rinse. Now that Chrysler's balance sheet has been cleaned up (thanks in large part to billions in Federal financing), the auto maker is primed for life with Fiat.
With the Supreme Court on the cusp of deciding whether to approve or block the sale of Chrysler, the restructuring of GM's board of directors is a story that may be overlooked. That would be a mistake. The new GM board faces one of the largest challenges ever in American business.
Plus, get calls on President Obama's stimulus spending, fast food, the Paris Air Show and more.
If you've read this blog for some time you've heard me say the easiest part of GM's bankruptcy will be filing the motions to cut dealers, shed plants, erase liabilities. And as always, don't take my use of the term "easy" to mean there is not a lot of pain that goes hand in hand with severing ties with thousands of people who have been part of the GM family for decades. There is plenty of pain.
Job losses were much fewer than expected. And the previous month was revised to show fewer jobs were lost than initially reported. As the Dow, S&P and Nasdaq hover, what's the bigger stock-market picture? Art Cashin, director of floor operations at UBS, offered CNBC his insights.
Whenever I tell people that Saturn has been a neglected, and potentially highly profitable jewel in the GM family of brands, people look at me like I've got three heads.
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.
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.