On Tuesday morning, investors will watch the automotive sector closely. General Motors (GM) might face selling pressure after the U.S. National Highway Traffic Safety Administration started a recall query related to nearly 600,000 vehicles regarding their engine failure.
GM stock performed well in the last year. Shares are up 94.3% from their yearly low.
Big technology stocks might trade lower today. Selling pressure worsened on Monday trade for big tech stocks listed on the European markets. Alphabet (GOOG) stock lost 2.4% in Frankfurt, while Nvidia (NVDA) and Microsoft (MSFT) both fell by over 2%. Markets are pricing in renewed tariff-related threats. President Trump threatened to impose tariffs against European countries until they permitted the U.S. to buy Greenland.
AI stocks in bubble territory might face renewed selling pressure. Companies with high short float percentages include BigBear.ai (BBAI) and Serve Robotics (SERV).
How the U.S. can afford to buy Greenland is unknown. The U.S. holds around $38 trillion in debt. U.S. Treasury bond prices might accelerate their decline after a temporary rebound. The iShares 20+ Year T-Bill ETF (TLT) rallied toward its 50-day simple moving average at below $89. It might trade below $86.00 in the coming days.
In Canadian markets, Telus (TU) topped the most actively traded stock on Monday. Investors are wary of the telecom market, accumulating gold stocks like B2BGold (BTG) and IAMGOLD (IAG)instead.
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