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General Motors shuts down North American factories temporarily

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Global automotive giant General Motors has been forced to temporarily halt production in North America, revealing closures of its factories

General Motors – the parent company of Holden, Chevrolet, GMC, Cadillac, and Buick, revealed that it was temporarily halting production at six of its North American factories as a result of the global chip shortage.

The move from GM makes it the latest major automaker to be impacted by the tight supply of computer chips.

The four GM US-based plants impacted:

Fort Wayne, Indiana; Wentzville, Missouri; Spring Hill, Tennessee; and Lansing, Michigan.

The company revealed four other factories in Mexico and Canada will also go dark for several weeks as GM works to shore up its supply of chips.

The halt in production will affect GM’s most profitable vehicles, including pickup trucks and SUVs.

“During the downtime, we will repair and ship unfinished vehicles from many impacted plants, including Fort Wayne and Silao, to dealers to help meet the strong customer demand for our products,”

a GM spokesperson said in a company statement

Impacted cars include the Chevy Silverado, Cheyenne, Traverse, Equinox, and Express; GMC Acadia, Sierra, Savana, Terrain, and Canyon; Buick Enclave; and Cadillac XT5 and XT6.

“Although the situation remains complex and very fluid, we remain confident in our team’s ability to continue finding creative solutions to minimize the impact on our highest-demand and capacity-constrained vehicles.”

This is the second time GM has had to announce temporary factory shutdowns in response to the chip shortage. The automaker, which is the largest in North America, previously idled several factories for two weeks back in April.

Of course, GM isn’t alone in feeling the pain from the global shortage of semiconductor chips, which is showing no signs of improvement. Practically every automaker has had to cut production and temporarily shut down factories in response, including VolkswagenFord, and Toyota.

Even Tesla, which makes far fewer vehicles than most of its rivals, revealed in a statement that it had to rewrite its vehicles’ software to support alternative chips.

Tesla CEO Elon Musk revealed during an earnings call that “the global chip shortage situation remains quite serious”

During a recent earnings call, GM executives wouldn’t specify how much production they expect to lose to the chip shortage.

But CEO Mary Barra said purchasing, manufacturing, engineering, and sales teams are working to divert the chips from cars and smaller SUVs to full-size pickup trucks, big SUVs, and new electric vehicles.

The company stressed that the shortage would cost $1.5 billion to $2 billion in earnings before taxes this year due to lost production.

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Stocks rally ahead of Thanksgiving as markets log four days of gains

Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.

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Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.


Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.

Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.

All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.

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#Markets #Stocks #Thanksgiving #DowJones #SP500 #Oracle #FederalReserve #FinanceNews


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Dow surges 500 points amid rate cut optimism

Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism

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Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism

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In Short:
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.
The Dow Jones Industrial Average increased by 569 points or 1.2% on Tuesday, reflecting investor optimism for an upcoming Federal Reserve interest rate cut. The S&P 500 and Nasdaq Composite also posted gains, up 0.8% and 0.4% respectively. This represented a recovery from earlier losses, where the S&P 500 briefly fell by 0.7%.Banner

Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.

Tech Sector

Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.

Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.


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Gold prices surge as Central Banks buy big, but risks grow ahead

Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.

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Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.


Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.

But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.

Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.

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#gold #markets #centralbanks #economy #finance #investing #interestRates #usdollar


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