Talk about a tough time to come out with a new truck. The economy is struggling, the housing market is in the tank, high gas prices have spooked buyers out buying big rigs, and there's little enthusiasm for new models (unless they're hybrids).
For the week ending Friday, September 5, 2008, the U.S. markets ended in negative territory for the week after weak employment data and declines in auto and retail sales pointed to weaker consumer spending and a greater economic slowdown. The unemployment rate jumped to a 5-year high, soaring to 6.1%. On Thursday, the three major Indices fell back into bear market territory by dropping 20% from their market peaks set last fall. Both the Dow & Nasdaq Composite had their worst daily closes since July 26, with drops of more than 340 points for the Dow and 75 points for the Nasdaq.
A friend of mine said something the other day that surprised me. He said nothing, and I mean nothing, gets him stoked about the latest models out on the road right now. I suspect it's because he is like many other people and is tired of seeing cars touted for their fuel efficiency more than anything else.
Cramer makes the call on viewers' favorite stocks.
Stephen A. Feinberg, one of the country’s most powerful — and secretive — financiers, hoped to make a fortune out of the detritus of the American auto industry. Instead, he seems to be losing one, reports the New York Times.
Much of Chryslers slump can be blamed on the fact trucks and SUVs have fallen out of favor because of high gas prices. And since Chrysler has the greatest exposure (percentage wise) to the so-called "gas-guzzlers" among the Big 3, it's suffering big time.
Rapid changes in the commodities market have left some investors badly bruised to say the least. However lower gas prices are good, right? Should you cheer or fear the drop in oil?
Stocks ended mixed Wednesday as economic worries continued to rain down on the market and dampen the post-Gustav rally. All three major indexes had been negative for most of the day, but the Dow tip-toed over the line at the last minute, helped by a 5% gain in GM.
Stocks wobbled Wednesday as economic worries continued to rain down on the market and dampen the post-Gustav rally.
Stocks wobbled Wednesday as economic worries continued to nag the market and rain on the post-Gustav rally.
It's getting harder to find a car to lease these days. Chrysler's financial arm recently pulled out of the car leasing business, and Ford Motor Credit, GMAC and many large banks also have announced pullbacks.
Oil continues to trend downward, and airlines are again among the most actively traded pre-open (I noted yesterday that oil is down 27 percent since its July highs but the S&P 500 is only up about 5 percent since its July lows);
This morning BMW's president for North America told me something that might surprise more than a few people in the auto industry.
The Clean Energy Fuels CEO explains why a ballot initiative state will be a big boon to his company.
Filled up the tank lately? I have, and it's nice to see the cost of gas has come down a bit. I wouldn't call it a huge drop, but enough that it's noticeable.
The Dow fell on Tuesday, despite a steep decline in the price of oil. Also investors hammered energy and materials companies. Has the commodity bubble popped?
Stocks declined Friday as Dell shook up techs and Gustav rattled the market. But, as the summer came to a close, some analysts are seeing a silver lining in the clouds.
General Motors said Friday it was recalling 944,000 vehicles because of a problem with a windshield wiper fluid system that could lead to a fire.
Stocks declined Friday after weak results from Dell and a jump in oil prices.
Markets have headed lower late in the morning and into the afternoon, primarily on the Dell and Gustav news. Tech stocks have been struggling all day. Crude oil and natural gas futures were higher this morning, but the markets have not had any help from energy stocks. And Sen. John McCain’s choice of Alaska Governor Sarah Palin as a running mate came as a surprise to many.