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It’s New York City auto week and that could mean only one thing to the group of journalists here at Yahoo Finance.
Impactful meetings with top auto execs (and coverage at the event on Yahoo Finance Live)! What, you thought I was going to say amazing pics of EVs for Instagram?
It’s there Jacobson further detailed news earlier in the day of 5,000 white-collar workers taking buyouts — a move that will save GM about $1 billion in costs.
I found Jacobson, as usual, to be highly knowledgeable about his business, perhaps one of the most knowledgeable CFOs I have gotten to know in the past year. To that end, I put this thread to Jacobson and was a little surprised by the response.
Jacobson believes it’s more important for GM to drive overall efficiencies from the business rather than go through an accounting exercise.
Fascinating philosophical difference between two auto legends trying to track down the rich profit margins over at Tesla. Only time will tell which stock gets rewarded first in their EV efforts.
What we're watching
8:15 a.m. ADP Employment numbers: The Street expects a slower month of job growth compared to February with expectations that 200,000 new jobs were added to the private sector. ADP's numbers come two days ahead of Friday jobs report, so the market will be watching for surprises.
10 a.m. ISM Services: We got manufacturing data earlier this week from the ISM that was the lowest in quite some time. As Myles Udland indicated in the Brief yesterday, manufacturing is just one part of the economy. We'll get another piece of the puzzle this morning.
8 a.m. Walmart analyst day 2: The country's largest retailer will continue presentations on its business. Investors will look for precious guidance on retail, consumer appetites, logistics, and other nuggets
What we're reading
Chart of the day
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