Asian equities put up an upbeat performance on the final trading day of the week, following an inspiring U.S. lead overnight as investors cheered the Federal Reserve's pledge to be patient in increasing interest rates.» Read More
General Motors trailed Japanese rival Toyota Motor in global vehicle sales decisively through the second quarter and first half of the year, hurt by a large decline in North America.
Toyota Motor may cut its 2008 global vehicle sales target by as much as 350,000 units to about 9.5 million because of declining sales in the United States, Japan and Europe, according to news reports.
Asian markets seesawed Wednesday with investors uncertain about global growth prospects, the state of the financial sector and volatile oil prices. Japan finished flat, South Korea fell but Australia gained over 1%.
Toyota Motor will cut its global sales target for calendar 2008 by 3.6% to 9.5 million vehicles to reflect a sharp slowdown in the United States, Japanese national broadcaster NHK said on Wednesday.
The Dow chart looked like a yo-yo Thursday as traders pounded financials including Freddie Mac and Lehman Brothers and oil prices surged more than $5 a barrel. Still, all three major indexes eked out gains by the closing bell.
The Dow chart looked like a yo-yo Thursday as traders pounded financials including Freddie Mac and Lehman Brothers, overshadowing any positive news the market had to offer.
Stocks flipped and somersaulted Thursday as investors juggled worries about capital constraints at Fannie Mae and Freddie Mac with a drop in jobless claims, merger activity and encouraging retail sales.
I've said it for some time, and will continue to say it to anyone who asks. The flexibility Asian automakers have to build different vehicles in different plants is the reason they'll ride out this tough time better than the Big 3.
Talk about a tough week. On Monday Chrysler announced it would be shutting an assembly plant outside St. Louis and stripping out the shift of another one in Missouri. Then yesterday, the company reported June sales that put the company's market share for the month at 9.9%.
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.
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.
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.
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.
With Shares of GM stock trading at 54 year lows, there's renewed talk about GM being in a slide it can't stop. I won't go that far. But this week could go down as one of the toughest in the company's 100 years.
Jon Hilsenrath, money and investing news editor at The Wall Street Journal, offered CNBC his "4 for 4": the four stocks he says investors must watch on this shortened business week.
As I watched my White Sox finish a sweet sweep of the Cubs last night, I talked to my friend Mike from Detroit. He's a great guy, despite his love of the Tigers. But he said one thing that could summarize how many in motown may feel by tomorrow night. "It's not like we didn't see this coming," said Detroit Mike about Toyota closing in on #1.
After a couple of weeks of being on the road in New York for the "Today Show," Detroit for auto stories, and other places around the country, I've finally had a chance to take in the e-mails you've been sending me about the increasingly dicey auto business. While I have, and will continue to directly answer your e-mails, there are a few I'd like to share.
Toyota Motor said on Friday it may need to consider raising the prices of its passenger vehicles in the future due to surging raw materials costs, though fierce global competition would make such a move difficult.