CNBC Business News Update Market Close: Stocks Higher To Start May, Apple Reports Light Services Division Results, Amazon Issues Soft Guidance 5/1/25
May 1, 2025
Wall Street kicked off May strong, showcasing gains amidst mixed earnings from tech giants. While Apple reported disappointing results in its services division, Amazon's soft guidance raised concerns. Economic challenges loomed large, especially with rising tariffs affecting small businesses. A new value platform from a fast-food chain left mixed feelings about sales, as various sectors grappled with uncertainties in manufacturing and employment forecasts. Tune in for insights into what it all means for your money!
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Tech Stocks Lead Market Start
- Wall Street opened higher in early May, driven largely by tech stocks like Microsoft and Nvidia.
- Apple showed strong overall earnings despite some weaknesses in its services division, impacting investor reactions.
Mixed Earnings in Tech and Travel
- Amazon's earnings beat expectations but showed slower AWS cloud growth, which led to after-hours share decline.
- Travel and leisure companies including Airbnb reported softness in the current quarter, echoing broader sector weakness.
McDonald's Sales Strategy Shift
- McDonald's faced its worst same-store sales drop in five years but trialed value deals to boost traffic.
- Plans to reintroduce popular items and focus on affordability aim to revitalize sales in upcoming months.