Ford, GM stocks lower ahead of labor-contract expiration

Shares of Ford Motor Co.
F,
-0.95%
and General Motors Co.
GM,
-0.65%
traded lower midday Thursday with just hours to go on their autoworkers’ current contract. United Auto Workers President Shawn Fain said yesterday automakers and union representatives remain far apart in negotiations, and the union would not extend the contract’s 11:59 p.m. expiration on Thursday. The UAW was keeping its options “open,” Fain told the membership late Wednesday, prepared to strike at all three companies, including Stellantis NV
STLA,
-1.37%,
or move to targeted labor actions involving specific plants.