Why Ford Stock Is Rising Today
Shares of Ford Motor Company (NYSE: F) are rising today, up by 4% as of 10:15 a.m. EDT, amid a broad market rally following a report that U.S. retail sales rose much more than expected in May.
The U.S. Commerce Department reported today that while total retail spending remains below pre-coronavirus levels, retail sales jumped 17.7% in May from April. That was the biggest month-to-month increase in records dating back to 1992, the department said, and well ahead of analyst forecasts.
Ford's pickup truck factories are working at full speed to resupply dealers. Image source: Ford Motor.
Source Fool.com
