Shares of several companies in the broader auto sector, including Ford Motor Company (NYSE:F), are trading higher amid overall market strength as stocks rebound from recent weakness. The market at large has experienced volatility amid rate hike concerns.
Ford shares otherwise saw weakness last week and were trading lower amid continued volatility as investors digest the latest U.S. inflation data, which came in higher-than-expected.
The headline CPI rose 8.3% in April, down slightly from 8.5% in March but above economist estimates of 8.1%. Prior to 2022, the CPI hadn't risen 8.3% in any month since 1982. Core inflation, which excludes volatile food and energy prices, was up 6.2% in April, above economist estimates of a 6% gain.
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Ford manufactures automobiles under its Ford and Lincoln brands.
According to data from Benzinga Pro, Ford has a 52-week high of $25.87 and a 52-week low of $11.79.
