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WSJ What’s News

What’s News in Markets: Nvidia’s China Rival, Tariff Tech Effect, McDonald’s Slips

WSJ What’s News

The Wall Street Journal

News, Daily News

44K Ratings

🗓️ 3 May 2025

⏱️ 6 minutes

🧾️ Download transcript

Summary

How do a Chinese company’s AI chip efforts affect Nvidia? And what’s the trade-war takeaway from this week’s tech earnings? Plus, how is economic uncertainty affecting McDonald’s customers? Host Francesca Fontana discusses the biggest stock moves of the week and the news that drove them. Sign up for the WSJ's free Markets A.M. newsletter.   Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Americans love using their credit cards, the most secure and hassle-free way to pay.

0:04.0

But DC politicians want to change that with the Durban Marshall Credit Card Bill.

0:08.0

This bill lets corporate megastores pick how your credit card is processed,

0:13.0

allowing them to use untested payment networks that jeopardize your data security and rewards.

0:18.0

Corporate megastores will make more money and you pay the price.

0:22.1

Tell Congress to guard your card because Americans lose when politicians choose. Learn more at

0:28.1

guard your card.com.

0:32.5

Hey listeners, it's Saturday, May 3rd. I'm Francesca Fontana for the Wall Street Journal, and this is

0:38.8

What's News in Markets, our look at the biggest duck moves of the week and the news that drove

0:43.6

them. Let's get to it. Trade and earnings were the two big stories of the market this week,

0:50.1

and in many ways they were intertwined, as investors have been watching for the effects of Trump's

0:54.7

tariffs on corporations, on consumer spending, on the real world, really.

0:59.6

A big focus was earnings from four of the magnificent seven superstocks, but more on those

1:05.3

reports and how they move the market later.

1:08.3

Notable trade developments this week injected some optimism into the stock markets,

1:13.1

including Commerce Secretary Howard Lutnik saying he's reached a trade deal with an unnamed

1:18.1

country, although no trade deals have been announced, Trump softening the blow of auto tariffs,

1:24.0

and some signs of the ice thawing between Washington and Beijing. This week, the Dow rose 3%

1:30.6

while the SMP 500 gained 2.9% and the NASDAQ rose 3.4%. Let's start by checking in with

1:42.1

AI chip company NVIDIA and how the U.S.-China chipmaking rivalry

1:46.7

is heating up.

1:48.2

So in Monday's session, we saw investors reacting to the Wall Street Journal's report that China's

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