Shares of retailers and other consumer companies were higher as investors await the outcome of two electoral races in Georgia that will determine control of the Senate.
Additional fiscal stimulus, which could lead to more consumer spending, would be more likely if Democrats control Congress and the White House.
The U.S. auto industry is expected to report its lowest yearly sales tally in nearly a decade as the fallout from the Covid-19 crisis in 2020 upended a record run for the American auto sector.
Analysts from several research firms expect U.S. vehicle sales to total 14.4 million to 14.6 million in 2020, which would be down roughly 15% from a year earlier and the lowest level since at least 2012. The decline would snap an unprecedented five-year stretch in which sales topped 17 million vehicles annually.
Among car companies outperforming the broader industry were two of its largest players, General Motors Co. and Toyota Motor Corp.
GM said Tuesday it logged a big fourth-quarter increase in deliveries of pickup trucks and large SUVs, its most profitable vehicles. Its overall sales declined 11.8% in 2020, better than the expected result for the broader industry.
Toyota said its U.S. sales fell 11.3%, as steady demand for the Rav4 SUV and Tacoma pickup truck was offset by steeper declines in its car lineup, including the Corolla and Camry sedans.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
01-05-21 1715ET
