Consumers to put more in their Easter basket this year. (00:22) Microsoft reclaims title of world's most valuable public company after Apple selloff. (01:55) Peabody Energy surges on Trump's executive orders boosting coal industry. (02:52)Episode transcripts seekingalpha.com/wsb.Show links: Biggest stock movers Wednesday: BTU, CALM, and moreEx-Meta employee to tell Congress that company helped China in AI race, undermined U.S. securityTrump says TSMC would face 100% tax if it doesn't build in U.S.Spain calls on EU to rethink relations with China amid Trump's sweeping tariffsSign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.
Chapter 1: What is the main topic of this episode?
Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. Welcome to Wednesday, April 9th. It's great to be with you. I'm Julie Morgan. Easter spending is expected to defy uncertainty. Microsoft is the MVP and coal gets a Trump boost.
Chapter 2: How much will consumers spend on Easter in 2023?
The National Retail Federation says consumers are projected to spend 5% more on Easter this year compared to last, with total spending expected to reach $23.6 billion, just shy of the $24 billion record set in 2023.
The NRF says this translates into $189.26 per person on average for those that celebrate Easter, but those who do not celebrate still expect to spend something on holiday-related items. $25.43 per person. Consumers will spend predominantly on candy, followed by food, gifts, decorations, including flowers and clothing.
The most popular shopping destination remains discount stores at 55%, while 44% will head to the department stores. 36% of those polled will do their shopping online, while 26% will go to small local businesses.
Chapter 3: What are the most popular Easter shopping destinations?
The organization's vice president of industry and consumer insights said, as we witnessed throughout the pandemic, holidays such as Easter are especially meaningful for Americans during times of uncertainty. One of the big topics you'll see online is how many of you are actually planning an Easter egg hunt this year?
Well, according to this survey, a majority of families with kids, 54%, are planning an Easter egg hunt at home. This survey of nearly 8,000 adults was conducted March 3rd through 7th. Microsoft has reclaimed the title of the world's most valuable publicly listed company following Apple's four-day losing streak following the tariff announcement last week.
Chapter 4: Why has Microsoft become the most valuable public company?
The market cap of Microsoft stood at $2.64 trillion as of Tuesday's close, while that of Apple totaled $2.59 trillion. While Microsoft shares have fallen 7% over the last four trading sessions, Apple saw a steeper decline of 23% in the same period. Analysts say this is because of the iPhone maker's reliance on China for a significant portion of its manufacturing needs.
Chapter 5: How are tariff changes affecting Apple and Microsoft?
It also manufactures devices in other countries facing higher tariff rates, including India, Vietnam, and Brazil. Jeffrey's analysts in a recent note said Microsoft is more insulated from macro pressures and continues to view the stock as the safest large-cap investment option. Peabody Energy is up double digits pre-market 16%, adding to a 9.2% gain in the regular session on Tuesday.
Chapter 6: Why is Peabody Energy surging in the market?
As President Trump signed executive orders intended to expand the production and use of coal in the US after years of declines. Trump said he would use the Defense Production Act to boost coal mining, a move that could put the federal purse behind reviving the industry. The president cast the actions as essential to helping the U.S.
dominate the rapidly developing artificial intelligence sector, saying the country needed to ramp up electricity production to assure its position in the AI race. The president said he would direct the energy secretary to invest in next-generation coal technology and ask the Justice Department to identify and fight state and local regulations. He said we're putting coal miners out of work.
Other coal stocks that also posted solid gains during the regular session on Tuesday included Ramico Resources and Suncoke Energy. Now I want to tell you about three stories that are trending on Seeking Alpha. A former Meta employee will tell Congress that the company helped China in the AI race, undermining U.S. security.
President Trump says TSMC would face 100% tax if it doesn't build in the U.S. And Spain calls on the EU to rethink relations with China amid Trump's sweeping tariffs. On our Catalyst Watch for the Day, the three-day Google Cloud Next event will begin in Las Vegas. Google Cloud and industry leaders are expected to make major new announcements and offer key perspectives.
And at 9 a.m., Walmart will hold an investment community meeting. We've made it to that time of the morning when we check out the futures ahead of the opening bell. Dow S&P and Nasdaq futures are in the green. Crude oil is in the red, down 2.8% at less than $58 a barrel. Bitcoin is up 1.5% at $77,000. Gold is up 2.1% at $3,041.
In the world markets, the FTSE 100 is down 2% and the DAX is also down 2%. CalMain Foods is on our list of the biggest movers of the day pre-market. Calm is down 7% after the egg producer misconsenses expectations for fiscal Q3, despite reporting a sharp increase in net sales and a more than three-fold jump in profit, driven by a significant egg shortage that boosted prices.
On today's economic calendar, at 1030 a.m. the EIA Petroleum Status Reports and at 2 p.m. the FOMC Minutes will be released. That's it for today's Wall Street Breakfast. Thanks for listening. To take full advantage of Seeking Alpha, join the highest quality community of real investors discussing stocks and ETFs at seekingalpha.com slash subscriptions. I'm your host, Julie Morgan.
Go out and make it a great day.
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