Wall Street ticks up to another record as GM and others show how tariffs are impacting them

Wall Street ticks up to another record as GM and others show how tariffs are impacting them

NEW YORK (AP) — Wall Street inched to another record following some mixed profit reports, as General Motors and other big U.S. companies gave updates on how much President Donald Trump’s tariffs are hurting or helping them. The S&P 500 rose 0.1% Tuesday to beat the all-time high it set a day earlier. The Dow Jones Industrial Average added 0.4%, and the Nasdaq composite fell 0.4% from its record. General Motors dropped despite reporting a stronger profit than expected, as it still sees a $4 billion to $5 billion hit this year because of tariffs. Homebuilders soared following their better-than-forecast profit reports. Treasury yields eased.… Continue Reading

GM recalling big pickups and SUVs because the rear wheels can lock up, increasing risk of a crash

GM recalling big pickups and SUVs because the rear wheels can lock up, increasing risk of a crash

DETROIT (AP) — General Motors is recalling nearly 462,000 pickup trucks and SUVs with diesel engines because the rear wheels can lock up, increasing the risk of a crash. The recall in the U.S. covers certain Chevrolet Silverado and GMC Sierra 1500, 2500 and 3500 pickups from 2020 through 2022. Also included are the 2021 Cadillac Escalade, GMC Yukon and Chevrolet Tahoe and Suburban. GM says in government documents that a transmission control valve can wear out over time. In rare cases it can fail and lock up the wheels. GM says dealers will install software to monitor the valve and detect excess wear before the wheels can lock up. GM will provide warranty coverage to fix transmissions with defective valves. Owners will be notified by letter Dec. 9.… Continue Reading

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