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Good News for Auto Makers Can’t Sway Investors

Auto makers have had much to cheer about lately, but investors don’t seem to care. The U.S. market remains a cloud on everyone’s horizon.

BMW released key elements of its first-quarter results Thursday, ahead of schedule, because they were much better than analyst forecasts—as is required by German stock-market rules. Volkswagendid the same Tuesday, following the lead of Mercedes-owner Daimler earlier this month. This would seem to…

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