These 2 Auto Stocks Are Hitting the Gas in Wednesday's Rally
Stocks have enjoyed a nice rally in November, and Wall Street looked poised to see the good times continue on Wednesday morning. With investors having largely concluded that the Federal Reserve is likely to cut interest rates next year rather than raise them, some believe that a renewed bull market is now inevitable. Stock index futures were up about half a percent before the open.
Gains in major market benchmarks this year have largely come from some of the most massive tech companies in the world. However, many believe that a bull market will have to see gains in other industries beyond technology. In that light, Wednesday morning's rise in auto stocks General Motors (NYSE: GM) and QuantumScape (NYSE: QS) comes as potentially good news, indicating the possible broadening of the stock market's recent rally. Here's what's making shareholders in GM and QuantumScape more optimistic.
Shares of General Motors moved higher by 9% early Wednesday. The Detroit automaker gave investors some information about the impact of recent strikes on its business, but it also sweetened that news by announcing a major return of capital to shareholders.
Source Fool.com
General Motors Corp Stock
Our community is currently high on General Motors Corp with 36 Buy predictions and 7 Sell predictions.
As a result the target price of 47 € shows a positive potential of 24.6% compared to the current price of 37.72 € for General Motors Corp.
