What’s Happening With Ford Shares – Ford Motor (NYSE:F) | Daily News Byte

What’s Happening With Ford Shares – Ford Motor (NYSE:F)

 | Daily News Byte

[ad_1]

Ford Motor Company F shares were trading 6.02% lower at $12.26 Friday afternoon after the company raised the price of its F-150 Lightning truck due to rising material costs, market factors and supply chain constraints.

Shares of auto and auto-related companies, including Ford, are trading lower on sustained downward momentum following Wednesday’s Fed decision. The Fed raised rates by 50 bps and raised federal funds rate projections while lowering its GDP outlook. These catalysts may negatively affect spending on non-essential goods.

Our Benzinga team on Friday reported that the sharp drop in Ford stock means a bounce is likely on the horizon, although traders will want to watch for signals that the temporary bottom is in. …Read more

What happened?

The broader market slipped again on Friday after the Federal Reserve on Wednesday raised its target range for the federal funds rate by 0.5%, bringing the new target up to a range of 4.25% to 4.5%.

The Fed will continue to reduce its holdings of Treasury securities, agency debt and agency-backed mortgage-backed securities on a monthly basis. The committee expects that continued increases in the target range will be appropriate to bring inflation back to its 2% objective over time…Read more

According to data from Benzinga Pro, Ford Motor Company has a 52-week high of $25.87 and a 52-week low of $10.61.

[ad_2]

Source link