Sector Snap: Automaker shares rebound

Major indexes rebounded in afternoon trading Tuesday after the Dow Jones industrial average on Monday lost more than 700 points, its biggest one-day loss ever, after the House of Representatives rejected a $700 billion bailout of the financial industry.

General Motors Corp., a Dow component, gained 72 cents, or 8.5 percent, to $9.23. On Monday, the stock lost nearly 13 percent.

Ford Motor Co., meanwhile, added 36 cents, or 8.6 percent, to $4.53. Its shares fell more than 13 percent Monday.

Foreign automakers also advanced. U.S.-traded shares of Honda Motor Co. climbed $1.14, or 4 percent, to $30.07. Toyota Motor Corp. rose $1.65, or 2 percent, to $85.21. Nissan Motors gained 51 cents, or 3.9 percent, to $13.59.

Bucking the trend, Daimler AG gave up 62 cents to $50.22. Earlier in the session, the stock touched a two-year low of $48.61.

Automakers are scheduled to report September U.S. sales figures on Wednesday. Analysts expect sharp year-over-year declines, exacerbated recently by the crisis in the credit and financial markets.