This market is hanging in there nicely and investors should go back to the "buy the dips" strategy, said Alan Valdes, vice president of Hilliard Lyons.
Stocks ended flat Tuesday as investors took a breather after Monday's blockbuster rally.
Stocks struggled to stay in positive territory for any length of time Tuesday as profit-taking after Monday's blockbuster rally overshadowed a fifth-straight rise in pending-home sales.
Stocks bounced back from a lower open Tuesday after a surprisingly sharp jump in pending-home sales.
General Motors, Ford and Chrysler are not the only ones working through wrenching restructurings. Toyota is, as well, though with a much lower profile.
I can still remember the day a few years ago when Alan Mulally, recently installed as the Ford spacer CEO, told me his company was changing the name of the Ford 500 to Taurus. Along a few slight styling tweaks, the idea was to bring the Taurus name back and stoke some recognition with buyers who were writing off the blue oval.
Futures suggested stock would retreat Tuesday after a milestone session on Monday that sent the S&P over 1,000 for the first time since November.
Ford Motor's sales growth outpaced its rivals from the U.S. and Japan in July, rising 2.3 percent to give the automaker its first year-over-year monthly sales increase since November 2007, thanks in part to the U.S. government "Cash for Clunkers" program.
Ford Motor gapped up to a 15-month high Monday morning, following bullish options activity last week.
Credit Cash for Clunkers with giving Ford the boost needed to post its first positive monthly sales in 2 years.
The bulls only nudged the Dow slightly higher on Friday, but the move was enough for the blue chip index to record its best gain for July since 1989!
Options action was bullish on Ford Motor today as investors bet that the automaker would rally at least 6 percent in the next four weeks.
When I first heard the $1 Billion set aside by the Federal government for the "Cash for Clunkers" program was about to run out, I chuckled and thought, "well that didn't take long." It also has brought up a question as to whether or not the quick evaporation of money means the public is ready to buy cars and trucks again, or if this is a one time "flash point" of demand sparked by Federal money. My gut says it's the latter.
With so many people holding onto their car or truck longer, it's only natural folks are asking if they have a car that qualifies for the Cash for Clunker program. The fact is, most of us will not qualify for the federal program which kicked off this weekend. That's primarily because of the restrictions Washington has placed on the program.
It's becoming a habit at Ford. Beating the street and forcing analysts to raise estimates for when the auto maker will get back in the black. The second quarter numbers released today are further proof the country's #2 car company will likely be turning a profit fairly soon.
Just two weeks after emerging from bankruptcy, GM has re-arranged its leaders and now finds itself with a full set of directors. Those moves, along with the formation of an executive committee put in place the people who will try to lead GM back to profitability.
General Motors says its second-quarter worldwide sales fell 15 percent compared with the same period last year due to economic troubles and North American production cuts.
The Obama administration warned Congress on Tuesday that a House-approved plan to restore shuttered General Motors and Chrysler dealerships would threaten the auto companies' bankruptcies and recovery.
The question was blunt. The answer telling. Yesterday as I sat with a handful of other reporters for aone hour chat with Yoshi Inaba, the new President of Toyota North America talked about Toyota building cars that evoke passion.
Auto sales could bounce back to the $12- to 13-million annual sales rate within a year, Toyota Motor's North American President Yoshi Inaba said Monday.