Why Ford Stock Is Up Big Today
Shares of Ford Motor Company (NYSE: F) were moving higher on Friday, amid a broad-based market rally following the release of better-than-expected May employment figures. The figures add to other signs that the economy might be starting to recover -- just in time for several important new-product launches from Ford.
As of 1:45 p.m. EDT, Ford's shares were up about 13.8% from Thursday's closing price.
Before the market opened on Friday, the U.S. Bureau of Labor Statistics reported that total confirmed payroll employment rose by 2.5 million in May and that the unemployment rate fell to 13.3%. Both figures were significantly better than expected, and taken together, they suggest that the worst of the coronavirus-induced recession might be in the past.
Source Fool.com
