Investors hope Wall Street rebound continues; high hopes for new Cadillacby The Associated Press on Jan. 05, 2009, under Edge
Investors hope stock market rally continues
NEW YORK – Wall Street will open for trading Monday at a two-month high as investors have grown more optimistic that the worst of the market’s rout might be over. But, analysts contend, the real test is still to come.
There will be no shortage of economic data and potential corporate news as traders get back to work after the holidays. The real hope is that the market can build upon Friday’s rally, when the Dow Jones industrial average snapped a four-week losing streak and closed above 9,000 for the first time since Nov. 5.
The past month has shown that the negative sentiment about things such as corporate earnings and still-sluggish credit markets have already been factored into the market. Analysts say the next few weeks will determine if investors are comfortable enough to return to the market – with their fears of missing out on a rally outweighing concerns of a renewed downturn.
GM has high hopes for Cadillac crossover
DETROIT – General Motors Corp. is counting on the 2010 Cadillac SRX crossover vehicle to lure luxury car buyers with new design and performance features.
The redesigned vehicle was unveiled Sunday and is set to go on display at the 2009 North American International Auto Show in Detroit later this month. It replaces the SRX model first launched in 2004.
To help compete with better-selling rivals such as the Lexus RX, Acura MDX, and the BMW X3 and X5, the SRX’s designers took elements from other Cadillac models and melded them into this one. The new SRX looks faster than its boxy predecessor, with a curving roofline and a more rounded nose that still retains an aggressive look.
“For GM, it’s our most aggressive brand,” said Clay Dean, GM’s global director for Cadillac design.
Cadillac put more energy into improving the interior quality and exterior design of the car, Dean said. A 3-liter direct-injection V-6 engine comes standard, with the option for a 2.8-liter turbocharged V-6.
Cadillac sales fell 24 percent in the first 11 months of 2008, about on par with U.S. light truck and SUV sales overall. The automaker sold nearly 148,000 Cadillacs in January through November, including about 14,800 SRXs. But Toyota Motor Corp.’s Lexus division sold five times as many RXs. The 2010 SRX is expected to be in showrooms in mid-2009. Pricing hasn’t been announced.
The public got its first peek of the SRX at a California auto charity event in August.
The Associated Press
‘Marley and Me’ still tops in ticket sales
LOS ANGELES – Jennifer Aniston, Owen Wilson and their little dog haven’t lost their box office bite. Their family dog tale “Marley & Me” remains No. 1 at the box office for the second straight weekend with $24.1 million in ticket sales. The movie has pulled in $106.5 million since opening Christmas day.
Adam Sandler’s comedy “Bedtime Stories” was in second place with $20.3 million.
Rounding out the top five again are Brad Pitt’s “The Curious Case of Benjamin Button,” Jim Carrey’s “Yes Man” and Tom Cruise’s “Valkyrie.”