Chrysler is on the ropes. The privately owned company is close to bankruptcy. Obama mentioned Chrysler in his 100 day speech last night and expressed the interest in having a vibrant American car industry. Chrysler's specialty is large over-sized vehicles, think about those huge Dodge trucks. They definitely fulfill that rough and tumble American image of the manly man worker. When gas hit $4 per, my friends with those vehicles were looking into buying used cars because they couldn't afford to pay $300 a week for gas. Something tells me that a return to higher gas prices is a sure thing.
There will be a deluge of earnings reports today. Right now it seems like investors are giddy with future expectations of recessions past.
Hey if Wall Street sees the end of the tunnel, that's just great. We shall see indeed, but I'm sticking with bear rally.
Reuters: Stock futures point to higher Wall Street open
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