Strong sales could shift Ford, GM to higher gear

Shares of US automakers may finally be able to accelerate. Investors are closely awaiting next week's May sales data, expected to come in near record levels.

 Meeting those forecasts could be enough to lift the sector - among the cheapest in the market - putting the sting of product recalls and tepid recent growth in the rear view mirror. Estimated sales of 1.6 million new cars and trucks in May would make for a seasonally-adjusted annual rate of 17.4 million vehicles, according to Edmunds.com, a car buying platform.

"This is going to be one of the best months ever," said David Kudla, chief investment strategist of Mainstay Capital Management in Grand Blanc, Michigan.