Stocks are on the upswing and making their way to the best levels of the session.
Auto makers have been struggling as the likelihood of a
government-funded bailout remains uncertain. Both Ford Motor Company
(F 1.50, +0.24) and General Motors (GM 3.19, +0.40) have spent nearly
the entire session in the red, but recently made their way to positive
ground.
The recent ascent follows comments from President of United Auto
Workers (UAW), Ron Gettelfinger, stated that without immediate
assistance there could be a collapse of one or more domestic auto
companies by the end of this year. Also, Reuters has reported that
senators Levin, Bond, Voinovich, and Stabenow have reached a bipartisan
auto aid agreement, according to a Senate aide.