GM serves up steep June U.S. sales drop; DCX, Ford also hit

1:29 pm ET Jul 3, 2007

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GM serves up steep June U.S. sales drop; DCX, Ford also hit

SAN FRANCISCO
General Motors Corp. on Tuesday posted a 21.3% plunge in June U.S. light
vehicle sales, placing the blame on a planned move away from rental car
sales as well as a tough industry climate and aggressive promotions by
rivals.

Market Snapshot: U.S. stocks end higher as rally extends

NEW YORK
U.S. stocks closed higher Tuesday, extending the prior day's rally, as
investors focused less on declines in pending home sales and factory
orders and more on a healthy flow of merger news.

Economic Report: Pending home sales fall 3.5% in May

WASHINGTON
The U.S. housing market weakened further in May, as contract signings on
sales of previously owned homes fell 3.5% to the lowest level since
September 2001, the National Association of Realtors reported Tuesday.