Jobless claims rise, Bud Light struggles: Asking for a Trend
On today's episode of Asking for a Trend, Host Josh Lipton breaks down some of the biggest stories hitting the market, from Donald Trump choosing Ohio Senator JD Vance as his vice president to Bud Light struggling to regain consumer favor. Former President Donald Trump has picked Senator JD Vance (R-Oh.) as his 2024 running mate. Axios chief economics correspondent Neil Irwin explains that while Trump likes to tout populist ideas on the campaign trail, he has had a different view in the White House. While Vance has his own ideas, it is unknown if his sentiments will translate into policy in his vice president role. He says, "[Trump] also loves talking to CEOs and loves talking about how he's so great for business. He just floated cutting the corporate income tax rate again. He cut it from 38% to 21% when he was in office, he wants to go down to 15% now, he says. So look, there's a lot of things Trump would like to do that are certainly business priorities and things that big business would like to see. And Vance as vice president would just be one voice at the table, kind of trying to shape those policies." Yahoo Finance markets reporter Josh Schafer analyzes the latest market trends for July 18, as US weekly jobless claims rose more than expected, the healthcare sector (XLV) slumped, and the small-cap (^RUT) rally has begun to stall. More than a year after a boycott against the brand, Bud Light continues to struggle to regain consumer favor. The Anheuser-Busch InBev (BUD) fell to third place in sales, trailing behind competitors Modelo Especial and Michelob Ultra when it comes to dollar share, according to Bump Williams Consulting and NielsenIQ data. Yahoo Finance senior reporter Brooke DiPalma breaks down the movement. Meanwhile, Domino's (DPZ) reported its second quarter results, missing same-store sales expectations and revealing a stunt in international growth. Placer.ai head of analytical research R.J. Hottovy explains how companies have been rolling back prices and offering value meals, calling it the "summer of value wars." He adds, "I think it really speaks to the idea that consumers are looking for value, and that's front and center for them." Finally, Market Domination Host Julie Hyman breaks down the latest chart from Apollo Global Management chief economist Torsten Slok and how increasing CEO confidence could weigh on the Federal Reserve's interest rate cuts. This post was written by Melanie Riehl