Automakers rise after US Fed chair points to possible interest rate cut

** Shares of U.S. automakers rise in early trade

** Shares of Ford F.N up 3.5%, General Motors GM.N up 3%

** U.S.-listed shares of Stellantis STLAM.MI up 5%

** U.S. Federal Reserve Chair Jerome Powell signaled on Friday that an interest rate cut could be on the table at the central bank’s September meeting

** High borrowing costs have discouraged many consumers from buying new vehicles

** U.S.-listed shares of autoparts makers Aptiv APTV.BN, Magna MG.TO and BorgWarner BWA.N also up between ~3% and 4% each

** YTD, Ford up 18%, GM up 8.72%, APTV up ~28%, Magna up ~6% and BWA up 35%