Macy's earnings, OpenAI under pressure, Boeing's delivery outlook and more in Morning Squawk

In the latest update for investors, Macy's has reported a significant earnings surprise, exceeding Wall Street's expectations for both revenue and profits in the third quarter. This marks the retailer's most robust growth in over three years, providing a glimpse into the current state of U.S. consumer spending. However, the economic landscape remains complex. President Donald Trump's assertions regarding tariffs bringing jobs back to America are under scrutiny. According to an Institute for Supply Management survey, many corporate leaders are bracing for job cuts and severance packages due to the impact of these tariffs. One respondent noted that supply chain uncertainties are presenting greater challenges than even during the pandemic. Adding to the economic narrative, a recent Federal Reserve report indicated a slight decline in employment in recent weeks. Investors will be paying close attention to the ADP private payrolls report set to be released today, which economists predict will show an increase of 40,000 jobs for November. In the realm of artificial intelligence, OpenAI is facing increasing pressure as competitors like Alphabet and Anthropic make significant strides. Reports suggest that OpenAI's CEO, Sam Altman, has initiated a 'code red' strategy to enhance the performance of its ChatGPT model. This comes as Alphabet's new Gemini 3 model has demonstrated superior performance against industry benchmarks, leading many to view Alphabet as the frontrunner in AI development. On another front, broadcast station owners are navigating a challenging landscape of industry consolidation. Nexstar's attempt to acquire Tenga and Sinclair's hostile bid for E.W. Scripps highlight the urgency among media companies to adapt as traditional cable revenues dwindle. However, family ownership complexities and regulatory hurdles are complicating these mergers. Meanwhile, Boeing's stock saw a significant uptick, soaring over 10% following optimistic remarks from CFO Jay Malave about anticipated increases in deliveries for the 737 and 787 jets by 2026. This projection is seen as a crucial factor for improving cash flow amidst a prolonged period without annual profit since 2018. Investors are watching closely as the company navigates its recovery trajectory. In other news, Dell Technologies CEO Michael Dell recently discussed a substantial $6.25 billion commitment to establish 'Trump accounts' for children during an interview on CNBC, shedding light on his philanthropic initiatives.