Closing Bell Closing Bell: Meta Delays AI Model, Retail Growth Slows 5/15/25
May 15, 2025
Chris Harvey, Head of Equity Strategy for Wells Fargo Securities, brings a wealth of experience to the conversation. He discusses the resilience of stock markets amid sluggish consumer spending and rising interest rates. The dialogue shifts to the evolving economic landscape, touching on tax cuts and labor market intricacies. Harvey also covers the tech sector's challenges, particularly in AI development at Meta, and Coinbase's strategic shift to a brokerage model. Insights on crypto dynamics and market reactions to corporate challenges round out this engaging discussion.
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Bond Market Flags Deficit Concern
- Bond rates rising signal concerns about the U.S. deficit and fiscal discipline.
- The bond market demands action on spending before further rate increases escalate.
Fed Watches Employment Data Closely
- The Fed closely watches jobless claims to anticipate rate cut timing.
- Current strong employment data delays expectations of imminent Fed rate cuts.
Consumer Spending Holds, Yet Wary
- U.S. consumers remain discerning and mindful amid price concerns.
- Despite worries from tariffs, consumer spending behavior has not changed significantly yet.