Updated: Aug 31, 2022
Light trading day ahead of the Independence day long weekend here in the US. There was some economic data indicating that manufacturing slowed in the US for the month of June and there was also a warning from Micron that indicated that demand was cooling. These factors might have started the day in red but all major indices staged a comeback to start the Q3 on a +ve footing albeit they ended the week in red. GM reclaimed its top spot for number of vehicles sold (from Toyota) and reiterated that they sold fewer vehicles as they couldn't fulfill the orders due to semiconductor shortage (demand seems higher than what they can fulfill). I think they did better than previous quarter so seem to be making good progress. Elsewhere in the news are bottlenecks at the airport as travel demands surged for the long weekend.