Northern Wyoming Daily News - Serving the Big Horn Basin for over 100 years

Stocks scuffle as slowing auto sales worry Wall Street

 

May 3, 2017



NEW YORK (AP) — Despite strong results from industrial companies, U.S. stocks couldn’t get any momentum going Tuesday after car makers said their sales are shrinking.

Engine maker Cummins sent manufacturers and other industrial companies higher after reporting solid first-quarter earnings. A late slump took the price of oil to its lowest price in almost six months. Ford, General Motors and Fiat Chrysler all fell after they said sales declined in April.

Chris Zaccarelli, chief investment officer for Cornerstone Financial Partners, said auto sales have weakened because lenders are growin...



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