Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street. Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Canton, Ewa, Jim Kramer, David Fabry at the New York Stock Exchange. Future's solid as lower yields continue to provide ammo for the Bulls. Ten-year hits four and a quarter. A big morning on tap. Deal Book Summit in New York. Andrew Ross Sorkin has Jamie Diamond and Nvidia's Jensen Wong.

Meantime, Richmond Fed President Barkin at the CNBC CFO Council Summit.

And in a few moments, GM's Mary Bar will join us, reinstating full-year guidance, a new buyback and div hike.

GM shares up 9% pre-market. A lot of news here.

That accelerated buyback is really extraordinary.

Real commitment to shareholders.

And I think that, especially in light of Adam Jones' note yesterday talking about how much they burn money on R&D.

This calls all that into question.

Mary Barra has been under fire, I think, because of crews, which is the problem they've had with the

EV.

Well, self-driving.

Self-driving.

They spend my own EV, self-driving.

And then obviously rolling back in terms of at least their ambitions in EV in terms of timeline.

Right.

Battery problems.

She highlights that. But David, what I'm surprised that even after all that, the amount of money they have is extraordinary. Yeah, well, I guess is that almost part of the point here of just saying, hey, look what we can do? I think it's definitely the case. I wouldn't be surprised at Ford it. Didn't follow suit. These got, this thing sells it four times earnings, Carl. I mean, at a certain point, Four times times. Four times earnings. Yeah. Now, typically that means that earnings are going to be cut in half and it's really selling eight times next year's. But this is a kind of encouraging thing to buy back this amount. Very rare. Some people would say she's taking private. Can't do that. Obviously, they have a huge debt position. but I've got to tell you, right after the cruise, after the self-drive, which you know I'm going to ask about since I was in one, this is quite impressive. And I think it says, we're not dead. We're good. There's going to be some savings on the cruise front. Meanwhile, we've got some numbers on the impact of the, Jim, $1.1 billion adjusted EBIT impact. Yesterday, Jonas had a note, Morgan Stanley, looking at the

time it takes an average SMPR to spend their market cap in CAPX R&D. It's normally about 50 years

in the case of GM and Ford. It's about two years. What was really incredible was

that I first thought it was a false construct. Because sure, the S&B, I mean, you're talking about a lot of companies that are a decent. Then she compares it to Caterpillar, which I think is he compares to Caterpillar. That's a very fair one. If Mary was looking at Dice, well, geez, Caterpillar was 26, 27 years.

It was a great piece of, obviously, did not motivate this.

But I do think that the Sergio he's Catapalus 26, 27 years. It was a great piece of obviously did not motivate this.

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