Auto supplier stocks are outperforming on the day with Federated-Mogul (FDML +10%) leading the charge. Forecasting firm JD Power and LMC Automotive are both out with strong forecasts for May sales. while there is also some speculation that more institutional money is flooding into the sector as a way for managers to bet auto sales will be strong without over-exposing their funds to shares of the Big Three or Japanese automakers. Advancers: DAN +2.5%, BWA +2.2%, MTOR +2.4%, TRW +3.0%, TKR +1.9%, GT +2.2%, CTB +2.1%.
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