kate rogers has the details. back to you, kate. >> hey, again, melissa huge kwaufquarter for melissa. that same-store sales number increasing 12.6% in every segment across the globe, far above projections. the ceo acknowledging macro challenges, including stubborn inflation and expressing optimism about what the future holds at mcdonald's. >> still by the end of the year, we're going to be looking at, i think, probably high single digit inflation on a full year, which is certainly much elevated than what we've been used to over the last, you know, kind of prior period, where we typically would be in the low single digits, so -- that is pressuring margins, we're trying to be very thoughtful about how quickly we pass on this pricing to consumers. >> so far, the company's seen growth across the customer base, not just the lower end consumer. and while those consumers are more mindful of how they're spending, mcdonald's is saying that demand for the brand remains strong another thing we've been hearing from analysts

kate rogers. let's trade this one think about the input costs, food prices continued to go higher, energy prices abated a bit. labor, wages have gone up. how does this all shake out? >> i would think they have pricing ability still. chipotle does. i've been shocked how well mcdonald's has been, how efficient. mobile there has been good i have been afraid of china. we saw it with pg&e, that pricing power, even though sales may not have been fantastic, the pricing power more than made up for that. >> there's an interesting reuters analysis of nielsen iq data that found they actually rolled back prices on a number of products including detergent and toilet paper. >> but are they smaller? >> they're smaller and rolled back the prices. >> but per ounce, purr unit. >> that shrink flation is going on getting back to the restaurants, mcdonald's is the "m" in any c.a.l.m. even at 27 times i find it to be a compelling name. gross mar gins around 57%. the run it's had from march to now does make it seem a bi

frank, back to you >> that was kate rogers in san francisco.t's head to cnbc.com and sign up for the newsletter. >>> it has been a rough 24 hours for elon musk and empire of companies kicking off with tesla. shares losing 10% of value yesterday. market cap opening below meta for the first time in a year musk losing $10 billion of wealth in the process. then the quote successful failure of the spacex rocket self destructing three minutes into the test flight and twitter removing legacy blue check marks from those unpaid. beyonce and pope francis and oprah and former president trump. musk says there are a few exceptions william shatner and lebron james. last night's "fast money," he made the case on his empire. >> i think this is something else with tesla. we know he had been selling tesla shares all year last year to fund purchase of twitter. we know that spacex has been for sale he is looking to raise capital that way you know, if this stock were to continue to go lower, if they are pushing out a manned trip to the moon and that is the idea of

kate rogers is in san francisco and has that story for us. >> the nfib is out with its monthly read onmism that shows an overall dip from 90.9 to 90.1 for march. they call these recession levels while inflation and labor, of course, are still key issues in the economic outlook for the next six months remains the same at a net low level commentary from the group's chief economist stuck out to me. a mention of banking concerns weighing on owners and sentiment saying, quote, there are major uncertainties ahead, most immediate is concern that a banking crisis could develop adding, all of this weighs heavily on small business owners almost all of whom now see deteriorating business conditions and poor prospects for sales. the number of owners borrowing on a regular basis is unchanged month to month at 30% but a net 9% reported their last loan was harder to get than prior attempts that's up four points from the previous month noteworthy and something we'll be following one bright spot has been the consumer spending is keeping main street afloat for now, the group says back over to you >> kat

kate rogers is here with a closer look. >> while owners aren't necessarily hearing no from lenders, the environment is shifting and weighing on optimism take a look. >> reporter: for some businesses on main street, the credit crunch is real while capital is available, getting it is difficult. se >> it is where banks are asking more questions and it's harder to get loans but i also believe that business development is being stifled because of the interest rate raises so we aren't expanding in ways that i would want to, because i have to pay 6.5% interest on a loan that a year ago i would have paid 3% on. so that is limiting my development and our ability to expand >> reporter: for sellers, the issue predates the collapse of silicon valley bank and signature bank the most recent report for the month of march shows a drop in the ability to get a loan. analysts say the figure is unseen prior to recession. what's more, recent data from the national small business association shows a third of owners say lending terms are less fav

let's get to kate rogers with that story kate >> while it may be too soon to tell how many benefittede of the provisions, the bulk of what we are hearing about is in the energy space. companies that install solar systems for other small businesses and residential spaces are seeing an uptick in businesses as owners look to take advantage of a 30% tack credit for switching over to solar. >> we are expecting to double or triple our business. and the ten-year growth horizon is -- the sky is the limit, the increase projections for solar are running 20% a year, which is a huge growth trajectory, and we want to be a big part of that. >> others who own construction companies are benefitting from a lower inflation rate and hope to see price stability moving ahead. >> it's also affecting my decision making, so if i had unpredictability of being able to form a contract and make a profit, i am running a business that allows me to be more effective in my pricing structure. it's going to benefit the customer and increase the predictability of the outcomes for my company >> he also plans to take adv

. >> kate rogers, thank you. >>> still ahead, danger for elon musk after a successful launch spacex's new rocket exploding in air. is this launch good or bad news? we'll be back after this on ""power lunch. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. >>> welcome back, everybody. let's go to bob at the new york stock exchange for more on today's trading, marnkets in th red. >> 4120, 4144 a very narrow range overall for the s&p 500. we're losing some of the leadership particularly things like energy stocks, energy had a fantastic run, oil was 83 last week, now it's down to 77 or so. these oil names have been down all throughout the week. that's a problem because that was a big leadership group regional banks, huntington bank ceo on they're d

shelby, before that, kate rogers, please are expectations too high, kate?analysts are expressing con fidness they're leading up into earnings with a lot of confidence in mcdonald's ability to continue to perform in this environment we're looking at same-store sales and this will be key and projectioned to be 0.9% and we'll have an eye out to see if offerings like the cardi b and offset will help boost sales this quarter as we've seen in the past next up is mcdonald's is benefiting from any trade down as consumers start to feel higher prices weigh on them both at grocery stores and other restaurants and mcdonald's could see more business as a result of that and if price hikes are continuing and what traffic has looked like so far this spring are people coming in and are they spending more or less coming in and how sensitive are consumers to price right now those are the key items i'm watching for >> did coke tell us and did they say how they did it? what would you do with the stock? >> you know, what i'm thinking about mcdonald's as a consumer play, it's not

now this comes as the optimism index slipped again and remained at recessionary levels for a year kate rogers>> monthly read on optimism for march is out, that shows a dip to 90.1. the group calls these recession levels where these lovered for over a year. those small business owners wait for a downturn while inflation and labor are still key issues and the outlook remains quite low. commentary really stuck out this morning in mention of banking concerns weighing on owners, saying, there are major uncertainties ahead, most immediate is concern that a banking crisis could develop all this weighs heavily on small business owners, almost all of whom who see deteriorating business conditions and poor prospects for sales. the number of owners borrowing, 9% reported that their last loan was harder to get than prior attempts, up four points that's noteworthy and something we'll be monitoring. one bright spot, the group says consumer spending is keeping main street afloat for now that being said, the economic prospects are good for small business but mentioned the recession has yet to appear. so that

small business owners are rethinking their relationship with their regional banking partners kate rogersnow with the recent bank failures and how they are impacting main street america, especially the quote unquote backbone of the american economy, and that's small business kate >> hey, dom. in the week of the collapse of those two regionals, some small business owners are taking a loser closer look at their banking relationship there is data that shows smaller deposit amounts. many banks across the country said while there have been withdrawals, the end result has been -- the message from the ceo is that movement has come down to the regionals are working to maintain the relationship with small business owners. take a listen. >> banks across the country, including regional banks, are well capitalized with adequate liquidity. they've been planning for a change in the economy for two plus years so they are ready for whatever is next. >> i have spoken with several business owners. they're being impacted in varying ways one was turned down for a loan that would have been a no-brainer in the

kate rogers joins with the details. donald's set to inform corporate workers of layoffs earlier this week. a memo says it istemporarily closing offices to deliver this news the news was first reported by "the wall street journal kws the email states, we want to ensure the comfort and confidentiality of tour people back in january, cnbc reported job cuts were coming as the company sought to refocus. the ceo told employees this was designed to innovate more quickly and efficiently. he added at the time that certain initiatives would be halted and deprioritized, noting the organization was siloed and called that approach outdated. he also said the pace of restaurant openings needed to be accelerated to help capture the uptick in demand that mcdonald's has seen over the last few years, including during the pandemic that's echoed in an email from hr executives, understood scoring the need to, quote, shift from legacy mind-sets to new behaviors. and as you mentioned, investors liking that news the stock closing at an all-time

mcdonald's in morning as it prepares for purported layoffs as the stock hits an all-time high today kate rogersails. >> that's right. mcdonald's is set to inform corporate workers of the layoffs this week, and that's according to a memo that says its temporarily closing offices through april 5th so it can deliver the news to workers. the email states we want to ensure the comfort and confidentiality of our people during the notification period the memo did not say how many workers would be impacted by this move. job cuts were coming at the golden arches was reported with the restaurant expansion, and certain initiatives would be halted and deprioritized the organization was siloed and called it outdated this is echoed in the most recent email here from hr executives at mcdonald's underscoring the need to, quote, shift from legacy mind-sets to newbie havers. it's not clear, once again, how many workers would be impacted, but stock is trading at an all-time high so investors like this news. >> yeah, created buzz when everybody found out the offices were closed but that was really just a rethink o

let's bring in our own kate rogers and talk about as an industry why it has gotten so much play the last months >> reporter: thanks, carl. i think a lot of these names and the words used in this note about mcdonald's in particular battle tested. if you're looking at a recession and every analyst you talk to right now mentions that mcdonald's in particular has performed well in past recessions and will be the beneficiary from any tradedown consumers are moving away from higher cost options like casual names and moving into a mcdonald's am we saw the company see an increase in traffic due to that exact scenario the u.s. consumer was holding up better than the company anticipated. maybe a mild to moderate recession, a steamer downturn in europe, but consumers were coming in more even if they were ordering less which is good for traffic. chipotle is another name you mentioned. that one has a lot of brand loyalty. you're seeing the same thing with a shake shack though they may be a more expensive price point for consumers. >> on cnbc earlier, this idea consumers are trading down we've seen th

kate rogers is covering the story for us >> hey, mcdonald's set to inform corporate workers of lay-offsccording to an internal memo to u.s. employees viewed by cnbc the memo says it is temporarily closing its offices through april 5th so that it can deliver the decisions virtually to workers. a person familiar with the situation said the number would be in the hundreds in terms of workers impacted by the lay-offs the news was first reported by "the wall street journal." the e-mail we viewed states, quote, we want to ensure the comfort and confidentiality of our people during the notification period. the company declined to comment on this to cnbc. in january, we reported job cuts were coming at the golden arches as the company sought to refocus and accelerate restaurant expansion. the ceo told employees at the time this was designed to innovate more quickly and efficiently. he added that certain initiatives would be halted and deprioritized but it was not clear what those would be. at the time he noted the organization was silo ed and called that outdated he also wanted to help catch so

kate rogers, thank you just a quick check on the markets. a mixed picture. the dow eked out a gain of 80 points the s&p town slightly. 4090 was the level there the nasdaq down 1% you have constellation, jobless claims tomorrow. that's going to do it for us here "fast money" is next. >>> right now on "fast," kevin mccarthy meeting with taiwan's president. we'll break down what kind of blow-back could be coming from beijing. >>> plus, one of our traders is all charged up about a name we rarely mention on the desk a name we've never mentioned, in fact we'll find out why he thinks this stock could power higher. >>> and later, inside the cost cuts at fedex. tesla's rough three-day slide and stunted growth in some of the tech names i'm melissa lee. we start off with the three big omens in the market right now. first, there is gold the seminole safety trade. prices touching their highest level since march of last year in early trade, as fears of a recession grow gold miners at their highest since may. and then there's rates dropping across the board with the yield

. >>> dow component mcdonald's reporting this morning let's get to kate rogers who has the numbers. > joe mcdonald's across the board as reported, and revenues 5.9 billion versus estimated of 5.5 for the quarter. international license and corporate surpassing estimates, most notably for an 8% increase globally and 7.9% in the u.s it's due to price hikes and positive revenue growth. we have refocused on operational excellence in our global performance and we have seen significant customer satisfaction improvement around the world, adding mcdonald's brand remains strong mcdonald's poised to likely be the beneficiary of any consumer tradedown in this environment, so we will be on the lookout for that much more to come on "squawk on the street." >> when will i be able to try the new burgers with the buns that are softer? >> yeah, those are starting to roll out across the u.s. it's an improvement to the big mac. mcdonald's has done well when they he gressive marketing campaigns around things like the big mac, and there's a grilled onion come po po component. we will see what they have to s

no, once again, it's that the revolving chairs comes to roger. kate, these gentlemen and meetings, what diplomacy is all we saw that the historic meeting there, anna and vladimir relationships building these bridges, p 8, you know, kind of what we'll call it a opinions that we're adversaries for many years to me. and we're finally seeing rough, just maybe this will be an offer to have a voice. now where, of course we've heard of the canceled, we've collected west companies. they want, i mean, right down to the athletes, right? if they're all about right now or big news line, this ministers of japan and ears. while the 2 countries have had close economic and business i took, you have strange relations, a correspondent for the c g t. one of the key consensus reached by the to, to top this for medical document between china and japan. and aim for staple bella, relation a series of provocations by japan, against asian to have been constrained by the us when it comes to it should not do the same to china, which is definitely decided also exchange their views on a couple of asia, china, japan

. >> kate rogers, thanks. erodhave a great weekend, evyby.ues after this break main streets as the us, you'll find pnc bank. helping businesses both large and small, communities and the people who live and work there grow and thrive. we're proud to call these places home too. they're where we put down roots, and where together, we work to help move everyone's financial goals forward. pnc bank. power e*trade's easy-to-use tools like dynamic charting and risk-reward analysis help make trading feel effortless. and its customizable scans with social sentiment help you find and unlock opportunities in the market we planned well for retirement, but i wish we had more cash. you think those two have any idea? that they can sell their life insurance policy for cash? so they're basically sitting on a goldmine? i don't think they have a clue. that's crazy! well, not everyone knows coventry's helped thousands of people sell their policies for cash. even term policies. i can't believe they're just sitting up there! sitting on all this cash. if you own a l