President Donald Trump pledged to revoke the so-called electric vehicle mandate, and an executive order on day one of his second presidential term signals his intent to undo much of his predecessor’s legacy when it comes to electric vehicle promotion. But it’s unclear how sweeping the impact will be or whether it will ultimately kill…
A benign December inflation report was all it took to ignite another strong rally on Wall Street, with major indices delivering their best weekly performance since the postelection surge in early November. Heading into the week, markets were gripped by concerns over inflation and interest rates, pricing in just one interest rate cut by year-end…
The tech-heavy Nasdaq 100 index extended its relentless climb over the week, setting new record highs and nearing the 22,000-point milestone, fueled by strong investor optimism in the Magnificent Seven tech giants and the transformative potential of artificial intelligence. Year to date, the index has posted a robust 30% gain, on track to outperform the…
General Motors Co. will incur two noncash charges of more than $5 billion for recognizing the change in value of its joint-venture business in China and restructuring costs there, according to a Wednesday filing with the Securities and Exchange Commission. GM expects a $2.6 billion to $2.9 billion write-down, or reduction in value on its…
Ford Motor Co. said Wednesday it made $892 million in net income in the third quarter of 2024, a 25% year-over-year decrease, following a previously expected $1 billion charge for canceling its all-electric three-row SUV program. The profit that represented 22 cents per diluted share came on $46 billion in revenue, which was up 5.5%….
New York – U.S. stocks are drifting around their all-time highs Monday, as momentum for Wall Street’s record-breaking rally cools a bit. The S&P 500 was virtually unchanged in morning trading, coming off its sixth straight winning week, its longest such streak of the year. The Dow Jones Industrial Average was edging back by 106…
It was a relatively flat week for the major stock indices as traders opted for caution following the rallies of recent weeks and amid intensifying conflict in the Middle East. A basket of U.S. oil and gas stocks recorded their strongest weekly performance in two years as oil prices and energy stocks surged, driven by…
Speaking to a crowd in Macomb County Friday night, Republican presidential nominee Donald Trump answered questions from the audience, including from one man eager to know what kind of wheels the former president favors. “My question to you is basic, it’s easy,” a man who identified himself as an auto worker named Todd asked Trump….
Defying predictions, the Federal Reserve made the bold move of cutting interest rates by 50 basis points Wednesday, lowering the target range to 4.75%-5%. Most economists had anticipated a more modest 25-basis-point reduction. The Fed also hinted at the potential for additional cuts in coming months, revealing a more aggressive trajectory to take action that…