GDP contracts, Twitter-Musk latest, Apple earnings on tap

"Kudlow" host sounds off on shrinking U.S. economy.

Former U.S. Agriculture Secretary Sonny Perdue says the U.S. may see higher food prices but that Americans should not encounter a supply shortage issue.

Dow Jones Market Data Group:

On pace for largest percent increase since Jan. 28, 2016, when it rose 15.52%

Would be highest close since April 20, 2022, when it closed at $200.42

U.S.: Comparable sales growth was driven by strategic menu price increases, strong marketing promotions featuring the core menu and growth in digital channels, which continued to benefit from the prior year launch of the Company's loyalty program — "MyMcDonald's Rewards." - company reported.

Global comparable sales increased 11.8%

U.S. increased 3.5%

International Operated Markets segment increased 20.4%

International Developmental Licensed Markets segment increased 14.7%

U.S. equity futures traded higher Thursday morning ahead of earnings from five Dow members, as well as economic reports on growth and jobless claims. Continue reading

Facebook parent Meta's reported quarterly profit jumped past Wall Street's expectations, as did its number of daily users. Shares rose 18% in the premarket. Continue reading

Bitcoin has a bit of a rally going, moving above $39,000. Heading into Thursday, Bitcoin has been up three of the last five days. Continue reading

Oil prices reacted Thursday morning as markets remain concerned about falling demand, especially in China due to COVID-19 restrictions. Continue reading

The average price for a gallon of gasoline  in the U.S. rose on Wednesday to $4.141, according to the latest numbers from AAA. The price on Tuesday was $4.134. The record high was $4.33, set on Friday March 11, 2022.