Market Midday: Stocks Rally, Chip Stocks Rise, Starbucks Turnaround On · 7/30/26
Speakers
Brian Niccol
— CEO, Starbucks
Mike Santoli
— Senior Markets Commentator
Jessica Ettinger
— Anchor, CNBC
Rick Santelli
— On-Air Editor, CNBC Business News
Summary
Wall Street rallied after a selloff, led by Microsoft and chipmakers. Starbucks CEO discussed a successful turnaround with transaction growth and add-on sales. Jersey Mike's IPO priced at $23-24, potentially among the largest restaurant IPOs ever.
- Stocks rally with Dow up 366 points, S&P 500 up 1.4%, Nasdaq up 2.5%.
- Microsoft shares surge 16% on strong quarterly results.
- Chipmakers like Micron, Intel, AMD soar; Qualcomm dips.
- Oil prices tick lower to around $83 despite Iran conflict.
- GDP report shows slower growth of 1.5% and high PCE inflation at 3.7%.
- Starbucks CEO sees turnaround driven by transactions and add-on sales.
- Jersey Mike's IPO indicated at $23-$24, could be second-largest restaurant IPO.
Ideas
Starbucks turnaround boosts growth via add-ons
Starbucks' turnaround is working, with transaction growth and customers adding high-margin modifiers like cold foam and extra espresso shots, leading to improved sales mix and overall growth.
Up Next
This CNBC video, published July 30, 2026, features Brian Niccol discussing SBUX. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Brian Niccol · Tickers: SBUX