Ford Motor Co
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Consumer Discretionary : Automobiles | Large Cap Blend
Company profile

Ford Motor Company is an automobile company that designs, manufactures, markets, and services a full line of Ford trucks, utility vehicles, cars as well as Lincoln luxury vehicles. The Company operates in three segments: Automotive, Mobility and Ford Credit. The Automotive segment is engaged in developing, manufacturing, distributing, and servicing the vehicles, parts and accessories of Ford and Lincoln vehicles. The Mobility segment primarily includes the development of Ford’s autonomous vehicles and related businesses. The Company also holds ownership is Argo AI, which is a developer of autonomous driving systems, and Spin, which is a micro-mobility service provider. The Ford Credit segment is comprised of the Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities. Ford Credit offers a wide variety of automotive financing products to and through automotive dealers throughout the world.

Closing Price
$19.14
Day's Change
-0.73 (-3.67%)
Bid
--
Ask
--
B/A Size
--
Day's High
20.40
Day's Low
18.93
Volume
(Heavy Day)
Volume:
120,275,163

10-day average volume:
94,800,511
120,275,163

Dow books slight loss but S&P 500 clinches longest win streak in nearly 2 months as investors shake off weak China data

4:28 pm ET October 18, 2021 (MarketWatch)
Print

By Vivien Lou Chen and Mark DeCambre

Nasdaq Composite trades up 0.8%, despite climb in Treasury yields

U.S. stocks shook off early losses to finish mostly higher Monday, with buying in consumer discretionary and information technology helping to buttress the broader market, despite a report that revealed slower-than-forecast growth in China that was blamed for early weakness.

How did major indexes perform?

On Friday, after the release of stronger-than-forecast retail sales figures, the Dow Jones Industrial Average rose 382 points, or 1.1%, to 35,295, the S&P 500 increased 33 points, or 0.8%, to 4,471, and the Nasdaq Composite gained 74 points, or 0.5%, to 14,897.

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What drove the market?

Buying in consumer discretionary , technology shares (XLK) and communication services gave the broader market a bit of a boost, as investors attempted to shake off an earlier dour mood on Wall Street that had been partly prompted by concerns about the economic health of the world's second-largest economy.

China reported 4.9% year-over-year growth in the third quarter, a big slowdown from the 7.9% recorded in the second quarter, as construction output slowed.

Hand-wringing about stuttering global growth and surging inflation has helped to check the bulls somewhat, as crude-oil futures touched multiyear highs before retreating on the day. Concerns about inflation also were on display across the pond, before trickling over into U.S. markets.

U.K. bond yields rose after Bank of England Gov. Andrew Bailey said the central bank would have to act to quell inflation, raising the prospect of rate increases in the country. U.S. central bank officials, as a whole, haven't been as alarmed by the rise in prices.

A stunning rally in energy prices has been cited as further reason to cast doubt on the prospect for strong global growth in the wake of the COVID-19 pandemic, with analysts concerned that the U.S. could be stunted.

Read: Here's when soaring oil prices could make the stock market sputter"An astonishing increase in the price of energy has seen European natural gas prices rise almost fivefold since the start of the year, fueling inflationary fears and concerns about a global slowdown," wrote Seema Shah, chief strategist at Principal Global Investors, in emailed comments.

However, the strategist said that the U.S. may be more insulated from the effects of that crisis, which she said could fuel outperformance by U.S. markets.

"For its part, however, the U.S. is in a relatively good position to weather the shock. It's energy self-sufficient, and consumers have significant excess savings to absorb higher prices. In contrast, as a large net importer of energy, Europe is more exposed," Shah wrote.

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The moves in stocks come against the backdrop of third-quarter earnings season, which kicks into higher gear this week with releases from Netflix (NFLX), Tesla (TSLA), and International Business Machines (IBM), among others.

"People are focused on economic and earnings fundamentals, which remain strong," said Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company in Milwaukee. "The reality is consumers have a lot of cash to deploy and corporations remain in a good spot."Inflation is still the biggest wild card, but to me the way to position for an inflationary environment is in equity markets, not bond markets, especially if the Fed is going to be patient about raising rates," Schutte said via phone.

In economic reports, a reading of U.S. industrial output was down 1.3% in September. The reading for August was revised lower to a decline of 0.1% from a gain of 0.4%.

The National Association of Home Builders said its monthly confidence index increased four points to a reading of 80 in October -- the highest reading since July.

"The U.S. economy is generally in good shape and, all in, the story is a relatively good story compared to other major regions of the world," said Rich Sega, global chief investment strategist at Conning, which has $209 billion in assets under management. "A lot of people have been concerned about the sustainability of the expansion, but I'm feeling pretty good about that and earnings."

Which companies were in focus?

How did other markets fare?

--Steve Goldstein contributed to this article.

-Vivien Lou Chen

	

(END) Dow Jones Newswires

October 18, 2021 16:28 ET (20:28 GMT)

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