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Toyota sees global sales of fuel cell electric vehicles increasing significantly after 2020, to at least 30,000 per year from today's 3,000. To prepare for this growth, the company unveiled plans for two major new facilities today: a brand-new building near its original automobile factory for expanding fuel cell stack mass production, and a new line in an existing plant to manufacture high-pressure hydrogen tanks. The FC stack is what generates the on-board electricity from hydrogen and oxygen which propel FCEVs with zero emissions, and the tanks store... -The Fly
Stocks opened in positive territory, but have turned mixed and moved in a narrow range during morning trading. The Dow has slipped into negative ground though the S&P and Nasdaq are holding onto slight gains. Other than the announced plan for China to cut the import tax on U.S. autos, there has been little movement on the trade front and the economic calendar is relatively quiet. ECONOMIC EVENTS: In the U.S., the Richmond Fed manufacturing index came in at 16, versus the consensus call for a May reading of 10. On the trade front, China's Finance... -The Fly
Stocks opened sharply higher as trade tensions between China and the U.S. have eased for the time being. The market added some additional gains during the opening hours of trading but once the averages found a level, they moved in a narrow range. With today's advance, the Dow moved back above 25,000 for the first time since early March. ECONOMIC EVENTS: In the U.S., the Chicago Fed National Activity Index had an April reading of 0.34, versus the consensus call for a reading of 0.25. COMPANY NEWS: Shares of General Electric (GE) advanced 2% after the... -The Fly
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