On today’s Ask the Trends, host Josh Lipton breaks down some of the biggest news stories shaking up the market, including Donald Trump’s selection of Ohio Sen. J.D. Vance as his vice president and Bud Light’s struggles to regain consumer support.
Former President Donald Trump has chosen Senator J.D. Vance (Republican, Ohio) as his running mate for the 2024 presidential election. Neil Irwin, chief economics reporter at Axios, explains that Trump likes to assert populist ideas during the election campaign, but has a different view in the White House. Vance has his own views, but it is unclear whether his views will be reflected in policy in his role as vice president. He said:[Trump] He also loves to talk to CEOs and he loves to talk about how great he is for business. He just proposed to further reduce the corporate tax rate. He took it from 38% to 21% while he was in office, and now he says he wants to get it to 15%. So there’s a lot of things that Trump wants to do that are certainly business priorities, that big corporations want. And Vance as vice president is just one voice at the table trying to shape those policies.”
Yahoo Finance market reporter Josh Schafer analyzes the latest market action on July 18th after a stronger-than-expected increase in U.S. weekly jobless claims led to weakness in the healthcare sector (XLV) and the rally in small-cap stocks (^RUT) began to stall.
More than a year after a boycott of the brand, Bud Light continues to struggle to regain consumer support. Anheuser-Busch InBev (BUD) has fallen to third place in sales and trails rivals Modelo Especial and Michelob Ultra in dollar share, according to data from Bump Williams Consulting and NielsenIQ. Yahoo Finance senior reporter Brooke DiPalma breaks down the developments.
Meanwhile, Domino’s Pizza (DPZ) reported second-quarter results revealing weaker-than-expected same-store sales and sluggish growth internationally. RJ Hottoby, head of analytics and research at Placer.ai, described companies as lowering prices and offering great value menu items, calling it the “summer of the value wars.” He added, “I think this really speaks to the idea that consumers are looking for value and that it’s their number one priority.”
Finally, Market Domination host Julie Hyman breaks down the latest charts from Apollo Global Management Chief Economist Torsten Slok and explains how growing CEO confidence could affect the Federal Reserve’s interest rate cuts.
This post was written by Melanie Leal
