General Motors Co. is strategizing for an inevitable economic downturn by paring down dealer inventory and maintaining a cash safety net, Chief Financial Officer Paul Jacobson said Wednesday.
The benchmark 30-year fixed rate mortgage rate edged up to 6.11%, essentially flat compared to last week when it was 6.1%, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 6.89%.
Dropping technology stocks are dragging the U.S. market lower again on Thursday, while prices for bitcoin, silver and gold fall sharply. Yields are also sinking in the bond market following discouraging news on the U.S. job market.
