3 Auto Stocks Driving Higher Despite the Bernanke Brake
Ben Bernanke and his pit crew at the central bank have decided to tell Wall Street that at some point later this year, they’re going to put the brakes on quantitative easing. The term they’ve decided to throw out into the trading lexicon is “tapering,” and the chatter around this shift in policy has caused the market engine to throw a rod. Stocks, bonds, gold and just about every asset class has gone off track since the May 22 taper talk was introduced, and of course, the sellers gained even more horsepower after the June 19 FOMC meeting and subsequent Bernanke presser.
Yes, the markets are slowing down quickly thanks to the Bernanke brake; however, that doesn’t mean you can’t find stocks to drive your portfolio higher. In fact, several stocks in the auto sector are doing just that, so climb into the driver’s seat now, while the rest of the market is in the pits.
Here are three auto stocks driving higher despite the Bernanke brake.