How Auto Stocks Traded Last Week

Last week (ended November 24, 2017), the broader market continued to trade on a mixed note, and the S&P 500 benchmark (SPY) (SPX-INDEX) posted a minor rise of 0.9%, while automakers General Motors (GM), Ferrari (RACE), and Fiat Chrysler Automobiles (FCAU) largely outperformed the broader market.

GM, RACE, and FCAU rose 1.3%, 4.2%, and 1.4%, respectively, last week. Peers (IYK) Ford Motor (F) and Tesla (TSLA) traded on mixed notes, ending the week with 0.7% and 0.2% weekly gains, respectively.

As of November 24, GM and Fiat Chrysler are trading in the positive territory on MTD (month-to-date) basis, with 3.4% and 1.4% gains, respectively. Tesla, Ford, and Ferrari have lost about 4.8% 1.4%, and 5.0% MTD, respectively, while the S&P 500 has risen 1.1% in November so far.

Legacy auto companies GM, Ford, and Fiat Chrysler reported YoY (year-over-year) rises in their 3Q17 earnings, while Tesla reported its largest quarterly loss in the same quarter (ended September 30). This could be the primary reason why Tesla stock has underperformed its peers in November so far.

In this series, we’ll discuss how auto stocks traded last week and check in with key auto updates for the past few weeks. We’ll also explore some key technical levels for major auto stocks.

We’ll begin in the next part by looking at GM’s recent stock price movement.