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Bumpy September for auto ETFs as UAW strike, higher rates weigh

From channelnewsasia.com

Exchange-traded funds tracking automakers saw net outflows last month on worries over the United Auto Workers' (UAW) strike against the "Detroit Three" and higher interest rates. Production at General Motors, Ford and Chrysler parent Stellantis have taken a beating as the UAW strike headed into the 20th day. The $41.2 million First Trust Nasdaq Transportation ETF - that counts GM among its top holdings - saw net outflows of $11.6 million last month, compared with outflows of $3 million in August, according to Lipper data. "Investors are being cautious about holding automaker stocks right now given the uncertain ... (full story)

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  • Category: Fundamental Analysis