Goodyear Tire & Rubber Shares Rise Amid Oil Price Correction

Goodyear Tire & Rubber Co's shares rose 6.2% after a sharp correction in oil prices, which should positively impact earnings. The tire maker's exposure to oil affects its cost of goods sold, and raw materials account for 45% of its costs, with 70% driven by oil prices. Higher oil prices can negatively impact tire demand and automotive sales. Investors should keep an open mind on the ongoing conflict in the Gulf and its impact on Goodyear's stock.