GM marketing spend will return to normal levels post pandemic metro.us - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from metro.us Daily Mail and Mail on Sunday newspapers.
4 Min Read
NEW YORK (Reuters) - The Dow Jones Industrial Average notched a record closing high on Tuesday as cyclical sectors gained on the prospect of more fiscal aid to lift the U.S. economy from a coronavirus-driven slump.
The Nasdaq, however, dipped as technology stocks moved lower, while concerns over rising interest rates kept the benchmark S&P 500 little changed.
Sectors poised to benefit the most from a reopening economy, including energy and financials, had the biggest percentage gains. President Joe Biden has pitched a $1.9 trillion pandemic relief bill and is pressing Congress to pass it in the coming weeks in order to get $1,400 stimulus checks to Americans and bolster unemployment payments.
Wall Street’s main indexes were set to open at all-time highs on Tuesday, with investors piling into economically sensitive stocks on hopes of more fiscal aid to lift the world’s biggest economy from a coronavirus-driven slump. Morgan Stanley, Goldman Sachs, JPMorgan Chase & Co, Citigroup Inc and Bank of America Corp rose about 1.7% each .
By Reuters Staff
2 Min Read
(Reuters) - AutoNation Inc reported an 88% surge in quarterly adjusted profit on Tuesday as the largest U.S. auto dealership chain earned more per vehicle thanks to tight inventories and robust demand for SUVs and trucks.
FILE PHOTO: People look at vehicles for sale on the lot at AutoNation Toyota dealership in Cerritos, California December 9, 2015. REUTERS/Mario Anzuoni/File Photo
AutoNation Chief Executive Mike Jackson said on Tuesday the shortage in supplies of semiconductors “is significant, and manufacturers can’t give us too much visibility” on how vehicle shipments will be affected. For now, Jackson said, “retailers are managing the situation through price.”