Here is your Investing Action Plan for Thursday: what you need to know as an investor. Investors will get a look at the Institute for Supply manufacturing index, a key barometer of U.S. manufacturing and economic activity. Automakers such as Ford Motor (F) and Fiat Chrysler (FCAU) will release December U.S. auto sales, while General Motors (GM) reports Q4 figures.
XISM Manufacturing Index
The ISM manufacturing index, from a survey of manufacturing supply executives, is expected to dip to 57.9 from November's very strong 59.3. Readings over 50 signal expansion. The ISM index is due at 10 a.m. ET.
Monthly U.S. Auto Sales
Big automakers like Ford, Fiat Chrysler and Toyota (TM) are set to report U.S. sales results for December. Auto information provider Edmunds forecasts a 0.3% increase from December 2017. General Motors, which no longer releases monthly figures, will release fourth-quarter vehicle sales. Expect the shift from cars to trucks and SUVs to continue, with cheaper gas prices a tailwind for lower-mileage vehicles.
Jeremy Acevedo, Edmunds' manager of industry analysis, said in a statement last month that automakers "are really pulling out all the stops in December to close the year on a high note, and car shoppers seem to be in a buying mood."
But Edmunds warned that "unsustainable levels of incentives helped augment sales totals" in 2018, and that there were plenty of reasons to be cautious about the year ahead.
"Automakers continue to rely heavily on upping fleet sales to mask eroding retail demand, and that's not a sustainable place to be," Acevedo said. "A record number of lessees returning to the market should help give dealers a boost in the New Year, but rising interest rates and vehicle costs are going to continue to give car shoppers pause and create uncertainty in the market."
Ford stock jumped 3.3% in the stock market today. GM stock crept 0.6% higher. Fiat Chrysler stock lost 0.9%. Toyota stock edged up 0.1%.
Tesla stock plunged 6.8% Wednesday. Tesla Model 3 deliveries came up short of estimates. The luxury electric carmaker also announced price cuts for the Model 3, Model S and Model X.
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The post U.S. Auto Sales, This Key Economic Gauge Are On Tap: Action Plan appeared first on Investor's Business Daily.
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