Shares of General Motors Co. GM slid 3.34% to $46.29 Friday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index SPX falling 1.71% to 6,013.13 and Dow Jones Industrial Average DJIA falling 1.69% to 43,428.02.
General Motors is raising its dividend by 25% and boosting its stock buyback program, as the automaker steps up returns to shareholders. GM on Wednesday said its board approved a new $6 billion share-repurchase authorization that includes a $2 billion accelerated buyback.
EnerSys, Sonoco Products, World Kinect and General Motors have been highlighted in this Screen of The Week article.
These stocks have dropped below the significant moving averages where it’s easy to make out the direction of trend, near-term and longer term.
Stocks have been under pressure in recent days due to lacklustre US economic data and worries about Mr Donald Trump’s policies. During a Cabinet meeting, the US president said he expects 25 per cent tariffs on the European Union. The Dow Jones Industrial Average finished down 0.4 per cent at 43,433.12.
GAINS in Nvidia ahead of earnings helped lift the Nasdaq on Wednesday while the Dow retreated on White House talk of more tariffs, this time on the European Union. Read more at The Business Times.