U.S. stocks turn higher as GM posts sales, oil off highs

Date: Tue, 01 Jul 2008 17:04:25 -0400
U.S. stocks turn higher as GM posts sales, oil off highs

Stocks rebound from steep losses to end in positive territory after
General Motor's June sales come in better-than-expected, while oil
prices move off earlier highs. See full story.

Ford, GM take hit in June sales, but so does Toyota

Ford shares drop as much as 9% after the company pins an expected plunge
in June U.S. vehicle sales on broader economic woes and offers little
hope for improvement.

Food Futures: Sugar rises to four-month high on ethanol demand

Sugar futures rise to the highest in more than three months on concerns
that record crude oil prices will increase global demand for ethanol
produced from sugarcane as an alternative energy. .

Five-year oil demand outlook cut; IEA sees drivers scaling back

The International Energy Agency cuts its five-year forecast for global
oil demand, saying the market will tighten as production becomes more
sluggish and as booming prices compel more consumers to park
gas-guzzling autos.