Markets update at midmorning

On the markets at midmorning (ET):The Toronto Stock Exchange’s S&P/TSX composite index was down 33.36 points to 15,871.78, after 90 minutes of trading.In New York, the Dow Jones industrial average was down 89.51 points to 23,352.25. The S&P 500 index was down 13.20 points to 2,555.93 and the Nasdaq composite index was down 28.59 points to 6,569.84.The Canadian dollar was trading at 78.21 cents US, down from Tuesday’s average price of 78.95 cents US.The December crude contract was down 20 cents to US$52.27 per barrel and the December natural gas contract was down two cents to US$3.11 per mmBTU.The December gold contract was down $1.30 to US$1,277.00 an ounce and the December copper contract was down two cents to US$3.18 a pound. read more

Chrysler skips summer shutdown of factory to keep up with Grand Cherokee

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Chrysler skips summer shutdown of factory to keep up with Grand Cherokee demand by News Staff Posted Apr 30, 2012 12:00 pm MDT DETROIT – Sales of Jeep Grand Cherokee and Dodge Durango SUVs are so strong that their factory will stay open through the normal two-week summer shutdown.Automakers typically close plants around the July 4 holiday to update cars and trucks for the new model year and maintain the machinery.But Chrysler spokeswoman Jodi Tinson says the Jefferson North factory in Detroit that makes the SUVs will stay open all summer. The plant is working overtime on two shifts and running two of every three Saturdays.Chrysler sold nearly 38,000 Grand Cherokees from January through March, up 44 per cent from a year ago. Durango sales were up 33 per cent at just over 11,000.Tinson says Chrysler can make changes for the 2013 model year while the plant is running. read more