Why Ford Stock Is Rocking Today
Shares of automotive giant Ford Motor Company (NYSE: F) raced ahead a healthy 5.6% in 11:30 a.m. ET trading Tuesday, joining a stock market rally as the S&P 500 recovers from a (mild) sell-off yesterday, and tacks on nearly 2% itself.
That's the good news. The bad news is that Ford's rally may not last.
Investors are feeling frisky today as reports that interest rate hikes by the Fed later this month may not be as severe as earlier believed. They're probably also anticipating a strong Q2 earnings release from Ford itself, which is expected to report next week that its quarterly sales surged as much as 42% year over year, and that its profits more than tripled ($0.44 per share is the prediction).
Source Fool.com
