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Friday, May 23, 2008

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GM's Stock Sell-Off And Why It's Happening

It's been 26 years since GM's stock has been this low in price. As Phil Lebeau blogs, it's nothing short of a horrendous end to a very tough week for General Motor's shareholders. Click here to read more.

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DOUBLE DOSE OF DATA: The S&P/Case-Shiller Home Price Index is released Tuesday along with New Home Sales. Diana Olick parses the housing price index and new home sales to get clue on the state of the current housing market. It's likely to be a gloomy day for housing data, with no signs of turnaround in sight.

AND THEN THERE WERE TWO: The race for the White House narrows as reports claim Obama is quietly searching for a running mate and signaling the race against Clinton is over. While Clinton holds on hope that she can still pull off a nomination because of her total support in the popular vote, but is the race over for Hillary? John Harwood wraps up the latest from the weekend and previews the Idaho primary.

LUXURY AUTOS SUCKING WIND: The sluggish economy is hitting car sales across the board, including sales of luxury automobiles. Residual values are down as those selling used luxury cars find the secondary buyers (who are more price conscious) are leery of buying larger luxury rides that don't get great mileage and require higher octane gas. Lexus, BMW, Cadillac, Audi, Infiniti and Porsche are all down. Only Mercedes is higher this year.

FOLLOW THE MONEY/ON THE MOVE/REAL-TIME FLASH: Mary Thompson follows the winners and losers in the market, breaking down the biggest stock and sector stories of the day.

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