The Latest Breaking News from GM

September S&P 500 futures (ESU23) are down -0.14%, and September Nasdaq 100 E-Mini futures (NQU23) are down -0.28% this morning as investors watched for fallout from a strike initiated by the United Auto Workers union, with the focus now shifting to the Federal Reserve’s interest-rate decision scheduled for next week.

The United Auto Workers union, or UAW, has told workers at three factories to go on strike after failing to agree on new contracts with each of Detroit’s major automakers. The contracts expired at 11:59 p.m. on Sept. 14, 2023. By midnight, the union posted a strike declaration on its…

Jim Farley also said EVs are at a disadvantage in the market today because of their higher prices compared to ICE-powered alternatives.

September S&P 500 futures (ESU23) are up +0.13%, and September Nasdaq 100 E-Mini futures (NQU23) are down -0.14% this morning as investors watched for fallout from a strike initiated by the United Auto Workers union, with the focus now shifting to the Federal Reserve’s interest-rate decision scheduled for next week.

The UAW late Thursday launched coordinated action on the Big 3 automakers for the first time, targeting assembly plants in Michigan, Ohio and Missouri.

About 13,000 auto workers have walked off the job at three targeted factories after their union leaders couldn’t reach a deal with Detroit’s automakers

Production of the Ford Bronco, Jeep Wrangler, and Chevy Silverado is halted.

Union begins picketing at plants operated by General Motors, Ford and Stellantis for first time in its 88-year history.

About 13,000 U.S. auto workers stopped making vehicles and went on strike Friday after their leaders couldn’t bridge a giant gap between union demands in contract talks and what Detroit’s three automakers are willing to pay.