Apple, McDonald’s, Airbnb Earnings Set to Strip Away GDP Gloss
A McDonald's location in New York.
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Household names as disparate as Apple Inc., Airbnb Inc. and Starbucks Corp. are expected to strip away the gloss of the latest economic data with their results this week, painting a more muted picture of US consumer health.
Though the US economy grew in the third quarter at the fastest pace in nearly two years, households are dialing back on spending, a retreat that’s also expected to show up in the earnings of VF Corp., owner of the Vans and North Face brands. Corporate results overall have been underwhelming so far this quarter, compounding concerns surrounding the Israel-Hamas war; the S&P 500 index entered “correction” territory on Friday.