Tech rally takes a breath
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What did the market outlook look like after Monday’s tech rally?
Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. It's good to be here with you on this Tuesday, the 22nd of September. I'm Julie Morgan. Stock index futures are little changed on this Tuesday, after a strong rally in technology stocks pushed the Nasdaq higher on Monday. Arm Holdings finished 17% higher. Meta Platforms, Astera Labs, and Intel all finished 12% in the green on Monday. Advanced Micro Devices was up nearly 10%. Ahead of market open today, crude oil is down 2.2% at $90 a barrel. Brent crude is down 1.4% at 98. The FTSE 100 is up 0.1% and the DAX is up 0.2%.
How is McDonald’s testing ads on its digital menu boards and why?
And Japan's markets were closed for a holiday. McDonald's is adding ads to its menu boards.
Why is CarMax cutting another 145 corporate jobs and what does it mean for the used‑car market?
The hamburger chain is testing the initiative at select company-owned restaurants. The ads will be placed on digital boards at drive-thrus and at the touchscreen kiosk in restaurants. The company is holding an Investor Day conference on Wednesday, September 23rd, so just one day away. CarMax has eliminated 145 positions, which is about 4% of its corporate workforce. This marks the third round of layoffs in less than a year as CarMax works to streamline operations amid a challenging market. The latest cuts follow the elimination of about 350 jobs in October of last year and another 230 positions in January.
Which trending news stories (Trump TV, SpaceX, Dollar General) are shaping investor sentiment today?
CarMax faces pressure from high vehicle prices and interest rates that have weighed on used car demand. Now for a look at a few other articles that are trending. Trump TV debuts on YouTube as major networks suspend White House pool coverage. At last check, the channel has 3.2 million subscribers. The Wall Street Journal is reporting that Falcon 9 rideshare sales have been paused as SpaceX winds down the flagship vehicle. And the CEO of Dollar General says even those who make $100,000 or more are shopping like bargain hunters. On our Catalyst Watch for the Day, we have a few Investor Day events from Fastly, On Holdings, and Minerals Technologies. Anheuser-Busch is holding a Capital Markets Day. And Everpure is having an Analyst Meeting.
What are the biggest stock movers (VICOR) and key economic data (Richmond Fed Manufacturing Index) to watch this morning?
The three-day Skiff Global Forum will begin. The theme is travel's great recalibration. It'll focus on how travel companies should respond to AI-driven booking, geopolitical volatility, changing traveler behavior, tighter capital, and a reshaped loyalty landscape. The CEOs of booking, Airbnb, Expedia, and Uber technologies are all due to present. VICOR is on our biggest movers list. VICR is up 10% following a major upward revision to its Q3 revenue guidance. I have one item to note on today's economic calendar at 10 a.m., the Richmond Fed Manufacturing Index. And if you enjoy hearing from our head of quant, Stephen Kress, I've got something for you. He dissects the news from a stock-specific quant perspective every morning around Market Open with Rena Sherbel on TikTok, X, and YouTube.
You can find it at Kress Top Stocks. That's it for today's Wall Street Breakfast. Thanks for listening. For a full offering of news, analysis, ratings, and data on stocks and ETFs, become a premium subscriber. Learn more at seekingalpha.com slash subscriptions. I'm your host, Julie Morgan. Go out and make it a great day.
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Chapters
5 chapters
1
What did the market outlook look like after Monday’s tech rally?
0:01–0:52
2
How is McDonald’s testing ads on its digital menu boards and why?
0:52–1:00
3
Why is CarMax cutting another 145 corporate jobs and what does it mean for the used‑car market?
1:00–1:43
4
Which trending news stories (Trump TV, SpaceX, Dollar General) are shaping investor sentiment today?
1:43–2:38
5
What are the biggest stock movers (VICOR) and key economic data (Richmond Fed Manufacturing Index) to watch this morning?
2:38–4:00