McDonald’s sales drop as consumers tighten their belts

McDonald’s slipped nearly 2% in early trading after it reported declining sales, with gloomier consumers pulling back on Big Macs and McNuggets at America’s largest fast-food chain.

Same-store sales in the US dropped 3.6% year on year in the first three months of 2025, the second consecutive quarterly decline and the worst drop in that key metric since 2020. The burger giant beat Wall Street’s profit estimates for the quarter but missed on revenue, reporting a 3% drop in its latest quarter.

CEO Chris Kempczinski said consumers were “grappling with uncertainty,” but projected confidence that the company could navigate the economic landscape.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

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