Ford Motor Company F and General Motors Company GM shares are trading higher Thursday morning amid overall market strength. Shares of several auto companies are trading higher as stocks gain following softer-than-expected October CPI data. Lighter inflation has eased some consumer concerns raised hopes of potentially softer Fed rate hikes in the future.
What Happened With CPI Data?
The headline CPI rose 7.7% in October, down from 8.2% in September, according to data from the U.S. Bureau of Labor Statistics.
The October CPI reading came in below average economist estimates of 8%.
Thursday's highly anticipated CPI inflation reading comes a week after the Federal Reserve raised its benchmark rate by 0.75% for the fourth straight time in a continued fight against historically high inflation...Read More
According to data from Benzinga Pro:
F is trading higher by 6.50% to $14.16
GM is trading higher by 6.08% to $40.38
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