General Motors (NYSE:GM) and the United Auto Workers (UAW) union are close to reaching a tentative labor agreement that would end a nearly six-week strike, the Wall Street Journal (WSJ) reported on Friday, citing people with knowledge of the talks between the parties. A contract between the union and GM would come two days after "Detroit Three" rival Ford (F) inked a tentative agreement with the UAW. General Motors (GM) and the UAW did not immediately respond to requests for comment from Seeking Alpha. General Motors (GM) stock was down 4.4% to $27.30 in late afternoon trade on Friday. Ford (F) had slumped 12% to $9.99, after the carmaker withdrew its 2023 guidance.

Source: Wall Street Journal October 28, 2023 14:15 UTC