The United States Oil Fund (NYSE: USO) which tracks the price of crude oil is up by more than 3% this morning. [For more information on commodity-based ETFs, please see our commodities ETFs category.]
Ford Motor (NYSE: F) said today that it aims to complete the sale of its loss-making Volvo Cars unit to Chinese automaker Geely in the second quarter of 2010. Geely plans to finance a bid valued around $2 billion with a combination of cash, bank loans and funds from a number of investors, report Jeff Bennett and Matthew Dolan for The Wall Street Journal. After news of the agreement, Ford’s stock traded above $10 a share for the first time since Oct. 3, 2005. [For more stories on the automotive sector, please see our automobiles category.]
Encouraging news for job-seekers: Treasury Secretary Timothy Geithner expects positive job growth to return this spring, according to the Associated Press. He also cautioned that the nation’s banks still have their work cut out for them in terms of regaining the confidence of the public.
Tony D’Altorio contributed to this article.