U.S. futures rise after government shutdown averted - what's moving markets

Wallbox (WBX) teams with Free2move eSolutions to accelerate EV adoption in North America

EV charging and energy management solutions company, Wallbox (NYSE: WBX) announced Wednesday that they have partnered with Free2move eSolutions to promote the adoption of electric vehicles in North America.

Free2move is a joint venture with Stellantis (NYSE: STLA) created to design innovative... More

GM secures $6B line of credit as UAW strike continues

General Motors (NYSE: GM) announced Wednesday morning the procurement of a fresh $6 billion line of credit and disclosed that the financial impact of the United Auto Workers (UAW) strike in the 3Q amounted to $200 million, according to a company representative.

The strike, which began on September 15th and has now... More

September auto sales surpass expectations despite challenges

The United States, in September, witnessed an impressive resurgence in the automotive industry, with the SAAR for light vehicle sales reaching a remarkable 15.7 million. This surge marked a 16.2% year-over-year increase, surpassing J.P. Morgans earlier projection of 15.4 million.

One contributing factor to the surge in auto sales is pent-up demand. Adverse weather conditions in several states during August may have led potential buyers to delay their purchases, resulting in an influx of sales the following month.

Another key factor driving strong performance is the greater availability of cars... More

Ford (F) launches F-150 Lightning Flash with focus on tech

Ford (NYSE: F) has introduced the F-150 Lightning Flash, a cutting-edge electric pickup truck with an extended-range battery and BlueCruise technology. The F-150 Lightning Flash is priced starting at $69,995 and will be open for online orders through Ford.com in early 2024.

In a press statement, Marin Gjaja,... More

Stellantis (STLA) to build five new EVs at Italy’s Melfi facility

Italian labor unions announced Tuesday that Chrysler-parent, Stellantis (NYSE: STLA) will begin production of five new medium-sized electric vehicle models, representing various brands, at its Melfi plant in southern Italy. These vehicles are intended for the European and Middle Eastern markets and are scheduled for production... More

Wall Street is bearish, conviction-less and stuck. Buy stocks, sell bonds - BofA

BofA analyst Savita Subramanian: "Our Sell Side Indicator (SSI) is a contrarian sentiment barometer that tracks sell side strategists average recommended allocation to equities in a balanced fund. Sentiment flat-lined at 53.5% in September, well below benchmark allocations of 60% and unchanged since July. Over the last twelve months, shifts have been... More