Market Overview

Carter Worth Would Sell Auto Stocks


On CNBC's Fast Money, Carter Worth presented a chart that showed the performance of the auto stocks and the S&P 500. He concluded that the auto manufacturing space in the U.S. is lagging significantly the whole market and the global auto manufacturing stocks. The S&P 500 gained 28 percent this year and the global auto manufacturers added 18 percent, while the U.S. auto stocks fell 3 percent.

Worth also showed that General Motors Company (NYSE: GM) and Ford Motor Company (NYSE: F) are trading neutral in the last five years and the market gained 75 percent. Since the auto sales were low, he believes that this space is at or near its peak in cycle and he would sell both stocks.


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Posted-In: Carter Worth CNBCMedia Trading Ideas