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đĽ Shakeups, Selloffs & Surprise Swaps
Amazon stumbles on outlook, McDonaldâs takes a hit, Waltz gets a promotion, and 35 Dems just helped block Californiaâs gas car ban. Hereâs whatâs moving markets and Washington today.
Suit & Times Daily Briefing â May 2, 2025
What Weâre Covering Today
đŚ Amazon Beats Q1 Earnings, But Weak Q2 Outlook Worries Investors
Amazon topped revenue and profit estimates but forecast weaker-than-expected operating income for Q2, sending shares down 4%.
đ 35 Democrats Join GOP to Block Biden-Era Rule Allowing Californiaâs Gas Car Ban
The House voted to repeal a Biden EPA waiver that greenlit California's 2035 gas car ban, with two California Democrats breaking ranks.
đď¸ Kohlâs Fires CEO Ashley Buchanan Over Ethics Breach After Just 5 Months
Kohlâs ousted its newly appointed CEO for âundisclosed conflicts of interestâ in vendor dealings, sending shares up 8% on the news.
đ McDonaldâs US Sales Decline Amid Economic Jitters, Largest Drop Since Pandemic
US same-store sales fell 3.6% in Q1 as price-sensitive consumers pulled back, despite new promotions and brand tie-ins.
đ Meta Surges as Wall Street Becomes Even More Bullish
Meta stock jumped over 4% after beating expectations and impressing analysts with strong AI momentum and big spending plans.
đşđ¸ Waltz Out as NSA, In as U.N. NomineeâRubio Chosen as Interim Adviser
Trump replaced NSA Mike Waltz after internal tensions, nominating him for U.N. ambassador and tapping Secretary of State Marco Rubio as interim national security adviser.
đ The Ledger
Tracking key market indexes to give you a pulse on global financial movements.

As of close May 1, 2025
These indexes cover U.S. markets, global equities, small-cap stocks, volatility, and economic trends, offering a snapshot of where the market is heading.
đš Why These Indexes Matter:
Broad Market Trends: The S&P 500, Dow Jones, and Nasdaq show how major U.S. companies are performing.
Volatility & Risk: The VIX measures market uncertainty and investor sentiment.
Global Perspective: FTSE 100, Nikkei 225, and MSCI World reflect international market health.
đŚ Amazon Beats Q1 Earnings, But Weak Q2 Outlook Spooks Investors
The Story: Amazon delivered a strong Q1 performance with $1.59 EPS on $155.7B in revenue, beating Wall Street estimates â but a softer Q2 forecast and tariff-related tensions sent the stock down over 4% in after-hours trading.
Why it matters:
đ Stock Slide Despite Earnings Beat: Shares dipped after Amazon projected Q2 operating income below analyst expectations â a sign investors are worried about slowing momentum.
đź Tariff Fallout Looms: With Trumpâs tariffs hitting up to 145% on Chinese imports, up to half of Amazonâs inventory could see price hikes, squeezing margins and consumers alike.
đŁď¸ White House Drama: A rumored move to display tariffs on product pages prompted a rebuke from Trump and a personal call to Bezos â highlighting political risks for major tech firms.
đ§ž Consumer Pressure Ahead: Higher prices could force consumers to tighten spending, putting downward pressure on Amazonâs e-commerce growth and potentially international performance.
đ Cloud Remains Solid: AWS hit $29.3B in revenue, meeting expectations â showing Amazonâs cloud arm remains a stable backbone amid marketplace volatility.
đ Read the full story â Yahoo
đ 35 Democrats Join GOP to Block Biden-Era Rule Allowing Californiaâs Gas Car Ban
The Story: In a striking bipartisan rebuke, 35 House Democrats joined Republicans to pass a resolution overturning the EPA waiver that allowed California to ban new gas-powered cars by 2035 â a policy embraced by the Biden administration but now under threat in a GOP-controlled Congress.
Why it matters:
âď¸ Rare Bipartisan Revolt: The vote wasnât just partisan posturing â 35 Democrats broke ranks, including two from California, signaling serious concerns over the feasibility and political risks of aggressive EV mandates.
đ Major Climate Policy in Jeopardy: Californiaâs 2035 gas car ban is a cornerstone of state and national emissions targets. If repealed, it could slow or derail broader clean energy goals.
đď¸ Congress vs. Bureaucracy: The resolution challenges Bidenâs late-term EPA waiver and underscores a growing effort by Trumpâs administration to reverse climate regulations via Congressional Review Act maneuvers.
đ Consumer Choice Back in Focus: GOP leaders framed the vote as a defense of consumer freedom, arguing that electric vehicle mandates limit affordability and access â a message theyâre betting resonates beyond just red states.
đ Automakers Already Nervous: The move echoes growing warnings from major auto companies who say current EV targets are unrealistic given sales trends and supply chain constraints.
đ Read the full report â FOX News
đď¸ Kohlâs Fires CEO Ashley Buchanan Over Ethics Breach After Just 5 Months
The Story: Kohlâs abruptly terminated CEO Ashley Buchanan âfor causeâ after an outside investigation found he orchestrated vendor deals involving undisclosed conflicts of interest â a rare public dismissal thatâs rattled investors and added to the retailerâs ongoing struggles.
Why it matters:
â ď¸ Unethical Conduct at the Top: Firing a CEO âfor causeâ is one of the strongest rebukes in corporate governance â and signals serious trust violations inside a company already under pressure.
đď¸ Another Hit to an Unstable Brand: Buchanan was brought in to stabilize Kohlâs after years of declining performance. His ouster only deepens the sense of disarray surrounding the retailer.
đ¸ Stock Rally Despite the Scandal: Surprisingly, Kohlâs shares jumped 8% after the announcement â a sign investors may view Buchananâs removal as a necessary reset.
đ Retail Headwinds Persist: Beyond leadership drama, Kohlâs still faces deep challenges: falling sales, store closures, rising inflation, and increased competition from both discount and online retailers.
â Leadership Scrutiny Rising: Analysts are questioning whether Kohlâs board performed adequate due diligence before hiring Buchanan â potentially eroding confidence in its ability to course correct.
đ Read the full story â ABC7
đ McDonaldâs US Sales Drop Amid Economic Jitters, Biggest Decline Since Pandemic
The Story: McDonaldâs reported a 3.6% drop in US same-store salesâthe sharpest decline since mid-2020âas inflation, consumer unease, and tariff chaos take a bite out of burger runs.
Why it matters:
đ Biggest US Sales Drop in 5 Years: The decline reflects broader consumer anxiety, particularly among lower-income households hit hardest by inflation.
đď¸ Early Warning for the Trump Economy: The drop covers the first two months of Trumpâs second termâbefore Aprilâs tariff barrageâwhich could further dampen consumer spending.
đ¸ Tariff Tensions Fuel Economic Fears: Uncertainty around global trade and rising prices has Americans pulling back on even budget-friendly spending like fast food.
đ Global Hit Despite Overseas Growth: Sales climbed in places like Japan and the Middle East, but weak US performance dragged global like-for-like sales down 1%.
đ§ž McDonaldâs Price Backlash Lingers: Price hikes over the past year have led to frustration among loyal customersâand are now showing up in the bottom line.
đ Read the full story â BBC
đ Meta Surges as Wall Street Gets Even More Bullish
The Story: Meta stock jumped over 4% Thursday after upbeat earnings and AI-driven optimism prompted major analysts to raise price targetsâsome well above all-time highs.
Why it matters:
đľ Beats Across the Board: Meta topped expectations on revenue and earnings, giving investors confidence the tech giant is back on solid footing.
đ¤ AI Buzz Boosts Sentiment: The company touted growth in AI tools and reaffirmed its commitment to capital spending on tech infrastructure.
đ Analysts Go All-In: JPMorgan and Bank of America hiked their price targets into the $670â$690 range; Canaccord Genuity maintained an eye-popping $825.
đ Momentum Recovery: After a slump in April, Metaâs stock is rebounding and seen as a key long-term play for investors betting on AI and ad dominance.
đď¸ Regulatory Clouds Loom: Despite the rally, analysts warn of future headwinds from macro conditions and increased scrutiny, especially in the EU.
đ Read the full story â investopedia
đşđ¸ Waltz Out as NSA, In as U.N. NomineeâRubio Tapped as Interim Adviser
The Story: President Trump has removed National Security Adviser Mike Waltzâbut instead of ousting him, heâs promoting him to be the next U.S. Ambassador to the United Nations.
The move, announced just hours after reports of Waltzâs exit surfaced, underscores the administrationâs attempt to turn internal tension into a high-profile reshuffle. In the interim, Secretary of State Marco Rubio will serve double duty as national security adviser, a surprise revealed during a press briefingâto the spokesperson herself.
Why it matters:
𧨠Signal Scandal Fallout: Waltz came under fire after accidentally adding a journalist to a Signal group chat detailing classified strike discussions. While not fired at the time, the damage lingered.
đź Soft Landing, Hard Confirmation: Trump respects Waltz and is offering a prestigious new role, but Waltz still faces a brutal Senate confirmation.
đ Rubioâs Dual Hat: Trumpâs decision to make Rubio interim national security adviser consolidates major foreign policy influence under one trusted ally, though it caught his team off guard.
đ Wider Shake-Up: Waltzâs departure follows a purge of NSC staff seen as insufficiently loyal to Trump, signaling the administration's ongoing internal reorganization.
đ§ Next NSA Speculation: Names floated include Trump loyalists like Stephen Miller and Seb Gorkaâno moderates need apply.
đ Read the full story â CBS News
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đĄ Thatâs it for todayâs briefing. Stay sharp, stay informed, and weâll see you tomorrow!