U.S. Economy Contracts, Meta’s Big Miss, ServiceNow CEO 7/29/22

Carl Quintanilla and Jim Cramer began the hour by breaking down today’s GDP data as the U.S. economy contracted for the second straight quarter, hitting a widely accepted rule of thumb for a recession. They spoke with National Economic Council Director, Brian Deese about the numbers. The anchors then shifted to Meta’s quarterly results, after the company missed on earnings. Meta also issued a surprisingly weak forecast, pointing to a second consecutive decline in year-over-year sales. Also in focus: ServiceNow CEO Bill McDermott joined the hour to discuss his company’s quarter, after beating on both the top and bottom lines.