Ford Motor Company F shares are trading lower by 5.18% to $11.54 during Thursday's trading session. Shares of auto companies at large are trading lower amid concerns over a potential economic slowdown, which could drive a decrease in auto purchases.
The weakness in the overall market may also be weighing on the sector following Jobless claims for September that came in below estimates, which has added to concerns of further Federal Reserve action to curb the tight labor market.
Ford shares have experienced marked weakness since the company on September 19th previewed the effect of parts shortages on the company in the third-quarter and reaffirmed full-year adjusted EBIT guidance as low as $11.5 billion or as high as $12.5 billion...Read More
U.S. initial jobless claims unexpectedly fell last week to the lowest levels since April, signaling the labor market remains resilient despite continued rate hikes from the Federal Reserve.
Jobless claims decreased by 16,000 for the week ending Sept. 24 to 193,000 from a downwardly revised level of 209,000 in the prior week, according to data the Labor Department released on Thursday...Read More
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