Transcript:
Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Stocks rallied into Friday’s close as investors continued to position for a Trump administration. Consumers are also preparing for a change in the White House. Consumer sentiment inched up in November to its highest level since April. Republican consumers were more upbeat, while Democrats were more downbeat.
Turning to next week’s holiday-shortened calendar, the big number comes from the PCE index, which is the Federal Reserve’s preferred inflation gauge.
Related: McDonald’s pulls beloved menu items due to major issue
Speaking of inflation, McDonald’s is still trying to find the right menu in a world where eaters are fed up with high prices.
The fast-food giant is introducing what it is calling the McValue menu. A $5 budget deal that’s already available will continue at least through the summer. The $5 bundle includes a small drink and fries, 4-piece Chicken McNuggets, and either a McDouble cheeseburger or McChicken sandwich. In addition, its “Buy One, Add One for $1” offerings will be expanded to breakfast time.
McDonald’s will also roll-out special deals in local markets and for app users. McDonald’s USA President Joe Erlinger said in a web statement, “When it comes to value, we know there’s no one-size-fits all. We’ve worked closely with our franchisees to create a new platform that will let our customers define value on their own terms.”
The McValue menu fully kicks-in in January 2025, in response to Mickey D’s first back-to-back drop in quarterly sales since the pandemic. Eating at McDonald’s is now roughly 40 percent more expensive than it was 5 years ago.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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