Wall Street Breakfast Easter spending to hop to $23.6B despite uncertainty
Apr 9, 2025
Consumers are expected to shell out a record $23.6 billion for Easter this year. Microsoft has overtaken Apple to reclaim its status as the world's most valuable public company. Peabody Energy sees a significant boost thanks to recent executive orders favoring coal. Tensions rise as an ex-Meta employee prepares to testify about alleged security risks in AI development related to China. Meanwhile, Trump has suggested heavy taxes on TSMC if they don't establish operations in the U.S.
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Increased Easter Spending
- Easter spending is projected to rise 5% to $23.6 billion in 2024, driven by holiday significance.
- Despite economic uncertainty, per-person spending is estimated at $189 for those celebrating and $25 for non-celebrators.
Microsoft Reclaims Top Spot
- Microsoft regained its position as the most valuable publicly traded company, surpassing Apple.
- This shift is attributed to Apple's steeper stock decline (23%) compared to Microsoft's (7%) amidst tariff concerns.
Coal Industry Boost
- Peabody Energy's stock surged following President Trump's executive orders boosting coal production.
- Trump aims to utilize the Defense Production Act and invest in coal technology to support the AI sector.