Autos Rise After Fed Data Shows Industry Strength

[Stocks-to-Watch]

Auto production is humming along, helping push U.S. industrial production 0.4% higher in December, the Fed said today. The results were in line with analysts’ estimates, but they underscore the strength in U.S. auto and auto parts production, which rose 0.6% in the month.

Auto factories, Bloomberg reports, have been adding third shifts at U.S. plants, after some plants were running just one eight-hour shift a day during the bottom of the auto downturn. Light-vehicle sales have risen more than 10% in each of the past two years, the first time that’s happened since 1984.

Ford (F) shares rose 1.6%, while General Motors (GM) was up 1%.



Original Article Source by Barrons.com