President Trump has invoked a Korean War-era law to fight the coronavirus pandemic. The Defense Production Act gives the president extraordinary powers over the U.S. economy, which supporters of the move say is necessary to contain the disease.

Dow futures trimmed earlier gains as U.S. oil prices turned lower after a five-session winning streak.

About 90 United Auto Workers union members have assembled more than 10,000 respirators at a Ford plant near Flat Rock, Michigan.

"The projected economic fallout for the (auto) industry is grave," reads the bipartisan letter signed by nine lawmakers from Michigan, Ohio, Tennessee, Texas and Alabama, all states with big auto manufacturing plants.

It's unclear why Tesla halted its operations at the plant that's normally operated six days a week. But the move means that Tesla isn't making any cars worldwide.

General Motors plans to further strengthen its cash position during the coronavirus pandemic through an offering of senior unsecured fixed rate notes, the company announced Thursday.

Michigan Gov. Gretchen Whitmer will allow the state's auto manufacturing plants, most of which have been shuttered since March due to the coronavirus pandemic, to reopen beginning Monday.

The plant will bring back around 30% of employees normally working on a shift.

The coronavirus pandemic has crushed the global economy, and a recession is inevitable in the U.S. as the Federal Reserve warns the second quarter will be much worse than Q1. The auto industry has been hit particularly hard as car sales tank. But here is why some experts say that Tesla is better off than other U.S. automakers to get through this downturn.

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