Squawk on the Street SOTS 2nd Hour: A Big Tech Boost, McDonald’s Consumer Concerns, and LIVE: Chamber Of Commerce CEO 05/01/25
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May 1, 2025 Steve Kovac, a CNBC correspondent known for his coverage of tech giants, dives into the recent stock market surge fueled by strong performances from Meta and Microsoft. He discusses the potential fallout of tariffs on Apple and the upcoming earnings reports from these tech titans. The conversation transitions to McDonald's facing its largest sales decline in five years, alongside insights into Tesla's leadership challenges. Kovac highlights the critical need for small businesses to navigate tariff repercussions in a shifting economic landscape.
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Tech Earnings Drive Market Rally
- Strong earnings from Meta and Microsoft are driving a significant tech rally, boosting market indices notably.
- Information technology leads the S&P, reflecting investor confidence fueled by these reports.
McDonald's Reveals Consumer Pressure
- McDonald's reports its biggest U.S. same-store sales decline in five years amid economic pressure on consumers.
- Traffic drops notably among low- and middle-income cohorts reveal widening economic disparities affecting quick service restaurants.
Microsoft's Resilient Enterprise Demand
- Microsoft’s enterprise demand remains robust with no immediate tariff impact despite some skepticism.
- Companies are investing heavily in AI and cloud, indicating tech spending resilience against economic uncertainty.