Modest gains to start the week
U.S. stocks are posting small gains this morning, following news of major shakeups in the automotive industry.
At 9:49 a.m. ET the Russell 2000 was up 0.86 points, or 0.1%, to 830.40. The Dow Jones Industrial Average was up 46.65 points, or 0.35%, to 13,372.87.
Attention is focused on the U.S. auto sector this morning, following news that DaimlerChrysler (NYSE: DCX) has sold its majority stake in Chrysler to private equity group Cerberus Capital Management for $7.45 billion. Nine years ago Germany’s Daimler-Benz AG purchased Chrysler for $36 billion.
According to news report this morning, members of Ford Motor Co.’s (NYSE: F) founding family are considering selling part of their controlling stake in the company.
The following companies were among the most actively traded small-caps at 9:40 a.m. ET:
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