General Motors (GM, Financial) and Ford (F) saw significant pre-market gains as the U.S. Commerce Secretary indicated potential tariff reductions on certain Canadian and Mexican goods. This development sparked investor optimism in the automotive sector.
General Motors (GM, Financial) shares surged over 8% in pre-market trading, reflecting strong investor confidence in the company's potential benefit from the anticipated tariff cuts. Ford (F) also experienced a notable rise, with its stock increasing nearly 5%.
Additionally, Stellantis, which trades in the U.S., saw its shares climb by 8.6%, further highlighting the positive sentiment across the automotive industry.