GM's area is a virtual ghost town filled with a few GM staff members, talking with a few reporters who made their way into the hall.» Read More
As automakers dropped their latest batch of awful sales numbers on the market on Tuesday, reinforcing the gloom spreading across the economy, the troubles confronting American workers seemed to intensify, the New York Times reported.
There's a good chance stocks could hold onto some of their positive tone Wednesday, and maybe even into Thursday, as traders search the rubble for bargains.
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The Dow closed higher Tuesday after GM surprised Wall Street with stronger-than-expected June sales and financial shares reversed earlier losses. What's the "Word on the Street?"
Stocks coasted to a positive finish, fueled by better-than-expected sales from General Motors, short covering and a pop in a manufacturing gauge, in what was a rollercoaster start to the first half.
This morning, in discussions with my colleague Dylan Ratigan, I stuck my neck out and said that the market should trade up modestly today for several reasons: 1) ISM was better than expected, 2) first day of the third quarter is historically an up day, and 3) the market is as oversold and bearish as I have seen it in many years.
General Motors surprised investors with a sales decline that was much less steep than expected, and the company's shares skyrocketed higher.
It was a rocky start to the second half for Wall Street as the market digested a mixed bag of auto sales, a $2 jump in oil prices and an encouraging reading on manufacturing.
A few key factors might force the shorts to cover, Cramer says.
Talk about throwing a curve to the experts. June auto sales shows that some people have been too quick to jump the gun and assume certain automakers would sell, or not sell.
Investors are looking for a panic-driven capitulation point to send things back upward, but those same investors refuse to panic.
Stocks had a wobbly start to the first half as a $3 jump in oil prices and selloff in European banks rippled through the market.
Yesterday, I wanted to take a pulse of the American car/truck owner. I asked a simple question: Are you giving up on GM? Why or why not? Granted, this is a highly non-scientific poll, but the answers were intriguing.
Fortune Brands is down 6 percent after lowering their earnings guidance for Q2 and the full year--yes that Fortune Brands that owns liquor (Jim Beam, Maker's Mark, Canadian Club, Sauza, Courvoisier), golf equipment (Titleist, Cobra), and home products (Moen, MasterBrand cabinets).
Here's to a better second half. We could use it. You've heard the superlatives. The market has had its worst first half since 1970. Think men on the moon and bell bottoms, and GM shares trading higher than they are now. Ouch.
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Stocks ended mixed Monday, capping a dismal quarter and first half marked by rocketing oil prices and battered financials. The Dow is down 14 percent since the beginning of the year and ended the first half about 20 points from bear-market territory.
When a company’s in debt as much as GM and Ford, it’s the creditors that hold sway – not the shareholders.
The Dow industrials moved higher, backing away from bear-market territory, as oil prices pulled back.
Shares of General Motors tumbled to a 54-year low while smaller rival Ford Motor hares fell as much as 10 percent on Monday on concerns record oil prices would further hit U.S. demand for vehicles.