11:51 AM EST, 01/03/2025 (MT Newswires) -- All three major US stock indexes were up in late-morning trading on Friday as investors looked to close a volatile week on an upward trajectory.

In company news, President Joe Biden on Friday blocked Nippon Steel's proposed acquisition of US Steel (X), citing national security concerns and supply chain risks. In a joint statement, US Steel and Nippon Steel vowed "to take all appropriate action to protect our legal rights." Shares of US Steel were down 6.5% around midday.

General Motors ( GM ) said Friday that overall sales in 2024 grew by 4% to 2.7 million vehicles, its highest total since 2019. For Q4, GM sales were up 21% year over year. Electric vehicle sales increased by 50% in Q4 and 125% for the year. General Motors ( GM ) shares were up 0.4%.

Ford Motor ( F ) said Friday its US retail sales grew by 17% in Q4 and by 6% in 2024 overall. Ford said its F-Series led the way in Q4 with 25% year-over-year growth. The automaker also said it sold 285,291 electric vehicles during the past year. Ford shares were up 1.5%.

Toyota Motor ( TM ) said in 2024 that US sales rose 3.7% on a volume basis and grew 3.1% on a daily selling rate basis from the prior year to 2.33 million vehicles. US sales fell 2.7% in Q4 on a volume basis and dropped 5.2% on a DSR basis from the year-ago period to 603,104 vehicles, the company said. Toyota ( TM ) shares were up 0.6%.

Some of Stellantis' ( STLA ) EVs and hybrids lost access to US tax credits under new rules implemented this week, Bloomberg reported. Stellantis ( STLA ) models previously eligible for credits worth as much as $3,750 are now ineligible, the report said. Shares of Stellantis ( STLA ) were down 1.9%.

Rivian Automotive ( RIVN ) said Friday it delivered 14,183 units in Q4, up from 13,972 a year earlier and above the FactSet-polled consensus of 13,000 units. Shares of Rivian were up 21.4%.

Boeing ( BA ) will remain under "enhanced oversight" by the Federal Aviation Administration, several media outlets reported Friday, citing comments from outgoing FAA Administrator Mike Whitaker. Boeing ( BA ) shares were up 0.3%.

JPMorgan Chase ( JPM ) is considering withdrawing from the Net-Zero Banking Alliance after Morgan Stanley ( MS ) , Citigroup ( C ) and Bank of America (BAC) withdrew from the United Nations-backed coalition this week, The Wall Street Journal reported late Thursday, citing a person familiar with the matter. JPMorgan ( JPM ) shares were up 0.8%, while those of Morgan Stanley ( MS ), Citi and Bank of America ( BAC ) were up 0.4%, 0.8% and 0.4%, respectively.

Price: 30.39, Change: -2.21, Percent Change: -6.78