Car Stocks Race Higher After Fed Cuts Rates

Group 1 - The Federal Reserve's decision to lower benchmark interest rates to a range of 4% to 4.25% has positively impacted the auto industry, leading to increased share prices for major car manufacturers [1] - General Motors and Ford Motor shares rose by 1.7% and 2% respectively following the Fed's announcement, indicating a favorable market response to the rate cut [1] - Lower interest rates are expected to stimulate new car sales, benefiting the automotive sector overall [1] Group 2 - Tesla stock experienced a slight decline of 0.1% after previously rising for six consecutive sessions, during which it gained approximately 22% [2]