Episode 242: Today, Ann unpacks SpaceX&#x27;s first-ever earnings report as a public company and why, despite headlines beats, investors still hit the sell button on the stock. Then, we&#x27;re joined by Torsten Slok, Partner and Chief Economist at Apollo, for a wide-ranging conversation on why the United States is propping up the Japanese yen, how AI could reshape the labor market, and Kevin Warsh&#x27;s new approach to forward guidance. Finally, we break down earnings from Disney, Bloomin&#x27; Brands and Dine Brands. Visit Schwab.com/FinancialDecoder www.brewmarkets.com Subscribe to the Brew Markets newsletter: https://www.morningbrew.com/brew-mark... Follow Brew Markets on social: Instagram: instagram.com/brewmarkets TikTok: tiktok.com/@brewmarkets X: x.com/brewmarkets Follow Ann Berry on social: Instagram: instagram.com/annberry_nyc X: x.com/AnnBerry_NYC Listen to Brew Markets Here: swap.fm/l/9Qk4z73Z2nEwFiCB4qee Watch Brew Markets Here:⁠ https://www.youtube.com/@BrewMarkets The content shared on this podcast is for informational and entertainment purposes only and should not be considered financial, legal, or investment advice. Brew Markets, Morning Brew and their hosts are not licensed financial advisors. Listeners should conduct their own research and consult with qualified professionals before making any financial decisions or investments. The views expressed are those of the hosts and guests and do not necessarily reflect the views of Morning Brew or its affiliates. This podcast may include paid endorsements or sponsorships. Learn more about your ad choices. Visit megaphone.fm/adchoices

SpaceX Craters & Propping up the Yen (ft. Apollo’s Torsten Slok)

Brew Markets

Disney, lending its magic to TikTok, we break down a new IP deal and which licensed characters may be coming to your vertical feed. Torsten Slok, the brilliant partner and chief economist of Apollo Global Management, brings big energy to the studio today with his views on today's market drivers. And SpaceX, the rocket's telecom and AI juggernaut beat earnings expectations at least on the top line.

So why are shares crashing? We have the latest as a lockup unlock looms. For Wednesday, August 5th, it's Brew Markets Daily and I'm Ann Berry. More market details to come, but first, SpaceX literally and figuratively crashing into the moon. Making headlines this morning as a discarded Falcon 9 upper stage that had been drifting through space for months,

allegedly slammed into the moon at roughly 5,400 miles per hour, creating a new impact crater. While scientists stress that the event poses no danger to Earth, but what a well-timed metaphor for a tough first earnings season that is cratering SpaceX stock. Last night, Elon Musk's tech giant topped analyst estimates with its quarterly revenues.

So that was good news, up more than 90% year over year, surging on strong growth from Starlink, commercial launch services and the AI business. And the company also reported a smaller than expected loss, suggesting that its core businesses continue to expand rapidly. But despite those headline beats, investors hit the sell button as soon as the release hit the wire. Shares were down sharply in early trading and after hours yesterday.

That's over concerns that SpaceX's AI-related capital spending exploded to more than $18 billion during the quarter, blowing through far more funding than Wall Street had expected.

SpaceX Craters & Propping up the Yen (ft. Apollo’s Torsten Slok)

Read the full transcript

The candid version is on a podcast,
not the earnings call.

SpaceX Craters & Propping up the Yen (ft. Apollo’s Torsten Slok)

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.