General Motors GM - Ford F - 12/02/08 - Stock Report

Today, 12/02/08, General Motors ( GM ) and Ford ( F ) stocks are indicated higher pre market. After, closing at $4.59 yesterday, GM stock is set to open higher in pre market trading at $5.10 per share. Ford ( F ) also looks to be opening higher around $2.70 after hitting $2.09 yesterday at one point.

Why are these stocks so volatile? Investors and traders are positioning their portfolios for what may happen in the coming days and weeks!

Today, December 2, Auto Sales and Truck Sales will be released at noon. These figures are expected to be horrible. The big three automakers are getting ready to submit their separate plans today to congress. All three companies are filing separate plans. Congressional hearings are planned for Thursday and Friday as these three companies are seeking as much as 25 billion in a bailout plan that would help them avoid bankruptcy. General Motors Corp., Ford Motor Co., and Chrysler LLC would refinance their companies' debt, cut executive pay, seek concessions from workers and find other ways of reviving their staggering companies.

Besides driving to Washington by Car versus a private jet, Ford Motor (F) Chief Executive Alan Mulally plans to tell Congress he is accelerating his company's development of hybrid and electric vehicles and is willing to cut his salary to $1 a year if Ford uses any federal funds. It is unclear how the CEO's of General Motors ( GM ) and Chrysler are travelling to Washington.

Expect more volatility in both GM and F stock as we get some clarity on the above.

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