The Latest Sign Of Consumer Struggles… Plus China Stocks Rebound 5/10/24
CNBC's "Fast Money"
CNBC
3.9 • 1.3K Ratings
🗓️ 10 May 2024
⏱️ 44 minutes
🧾️ Download transcript
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| 0:00.0 | Live from the Nesac Market site in the heart of New York City's Times Square, |
| 0:05.8 | this is fast money. Here's what's on tap tonight. Running on empty, consumers |
| 0:09.6 | losing that loving feeling about the economy as worries about inflation, rates and jobs are picking up. |
| 0:15.0 | We'll break down how companies are trying to get price weary shoppers to start spending again. |
| 0:19.0 | Plus, China rising from being called Uninvestable just last summer to a major rebound this year. |
| 0:25.0 | What's behind the big bounce back in Beijing will take you there coming up? |
| 0:29.0 | And later, not just for Boomers, the new generation that's getting the gold bug a big week for a semi-jiant not named |
| 0:34.8 | invidia and on a Friday have a Coke and a smile a major winning streak for the soda giant. |
| 0:40.4 | I'm Melissa Lee coming to you live from Studio B at the Nazac on the desk tonight Tim Seymour |
| 0:44.0 | Karen Feynerman Steve Grosso in Julie Beal. We start off with McDonald's latest move to contend with a |
| 0:49.4 | penny-pinching consumer. News today that the fast food giant is getting ready to |
| 0:53.5 | introduce a five dollar menu to help pull diners back into its stores that |
| 0:57.8 | after the company posted its first earnings miss since 2022 in the first quarter. |
| 1:02.0 | EPS coming in two cents below estimates, revenue growth of the quarter, the lowest in a year. |
| 1:07.0 | McDonald's shares had been struggling since that report but got a boost after today's news |
| 1:11.0 | as investors seemed to welcome any relief for consumers. |
| 1:14.8 | After all, sentiment falling to its lowest level of the year, according to the University of |
| 1:19.6 | Michigan's first reading for May. |
| 1:21.9 | And if next week's CPI report comes in hotter than expected for the fourth month in a row. |
| 1:26.1 | That just adds to the pressure. So is there any relief insight for the |
| 1:29.7 | consumer or will we spending start to really weigh on the economy and the markets from here. |
| 1:35.5 | It seems like we've been forecasting the demise of the consumer for a very long time has not come, |
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