The market came back significantly today given the jobs number, but I wouldn't hold my breath. Most everything was up, so the drivers were clearly macro. While the economic metrics are generally ‘full steam ahead”, remember that the market leads the economy.
I am sure that GM's decision to close factories was a tough call to say the least. The auto industry has always had the problem of adjusting production to high cyclical auto demand, but Barra is making the right moves.
