- 6 weeks ago
Category
🗞
NewsTranscript
00:00And right now we are two minutes away from the end of the trading day.
00:04Romain Bostic here with Katie Greifeld, taking you through to that closing bell.
00:07It's a global simulcast and it starts now.
00:09Carol Masser and Tim Stenevich join us from the radio booth.
00:12Welcome to our audiences across all of our Bloomberg platforms, television, radio,
00:16a partnership with YouTube with an S&P 500.
00:19Carol Masser perched at a record high.
00:21Yeah, pretty interesting, but it feels like it's kind of limping along.
00:24We're coming off our best levels of the session when you look at the equity trade.
00:26It's up eight tenths of one percent. How much more do you want?
00:28Well, it's not broad based.
00:30It's I mean, 270 stocks are higher as of now, 232 are lower.
00:34So, yeah, but the 270 are the ones that matter.
00:36NVIDIA, Apple, Broadcom, Alphabet, Amazon, AMG, Microsoft, IBM, JP Morgan, Micron.
00:41Should I keep going?
00:42Let's see what happens next week.
00:44Give 250 more to do, Romain. Go ahead.
00:46Come on, come on, come on.
00:47I don't want to interrupt, Carol.
00:48Yeah. Oh, really? Take it away. Take it away.
00:53Let's think about next week.
00:55It's opposite day.
00:55The Federal Reserve is meeting.
00:57Wow.
00:57Yeah, we've got some big tech earnings, like quite a few of the Mag 7 are reporting.
01:03The president is traveling.
01:05Does that mean no end to this government shutdown?
01:07Perhaps.
01:08What am I forgetting here?
01:09Oh, NVIDIA GTC.
01:11Did you say Fed meeting?
01:12Yeah, I said Fed meeting.
01:12Did you say Fed meeting?
01:13Yeah, we got a busy week coming out.
01:15Did you mention all the data releases coming in the next week?
01:18I did not mention those.
01:19Maybe not so much.
01:20But still, eat your Wheaties this weekend.
01:22Yeah, and I'm glad you bring that up.
01:24I mean, busiest week for earnings, like 170-something companies out of the S&P reporting.
01:28But I think the idea of what you just kind of hit on, this idea of the president overseas, presumably dealing with a couple of big trade issues with China and Canada.
01:36But, of course, also the idea that Congress is gone.
01:39I mean, the House has made clear, at least the Republican side of the House has made clear, they're not going to be in D.C. next week.
01:43The Senate's not going to be in there in D.C.
01:45And the president's not going to be there.
01:47So you're talking about a government shutdown that I think, what, today is in day 24?
01:51Yep.
01:51That means, you know, we'll probably maybe potentially cross that 35 mark, which would make this the longest shutdown in U.S. history.
02:00All right.
02:01Nevertheless, let's take a look at the market.
02:03It's a day to clap here with the Dow Jones Industrial Average closing out the day around 47.207, up a percent on the day.
02:09The S&P up 53 points, 67.91 and change.
02:12It did briefly trade above 6,800, but still it's going to close at a record high.
02:16The NASDAQ up more than 200 points or more than 1 percent on the day.
02:19A similar story for the NASDAQ 100.
02:21And look at that, the Russell 2000 getting in on the action as well.
02:24A gain today of about 31 points to 1.2 percent, though I should point out that's going to be just shy of its record high.
02:31Ah, just missing there.
02:32OK, hey, listen, go to the S&P 500.
02:34Back we go.
02:35258 names, as Romain was counting out a little bit earlier.
02:40To the upside, Katie, 241 to the downside for unchanged.
02:43Well, you take a look at the sectors.
02:44It's a similar setup.
02:46There is slightly more green than there is red, because right there,
02:49you can see a big chunk of the circle is dedicated to tech rallying mightily today,
02:54even with declines in Tesla, I believe.
02:57Tech up 1.6 percent as a sector.
03:00Also a great day for communication services, utilities, financials, et cetera.
03:04What didn't have such a great Friday, consumer staples, materials, and then energy as a sector, off by about 1 percent.
03:11All right, so let's go to some of the individual gainers.
03:12I mean, check out shares of Ford, man, on fire today.
03:16Up the most in five years, up 12 percent.
03:18What?
03:19That's a bad choice of words.
03:20Oh, sorry.
03:21Sorry.
03:22It's doing well today.
03:24You know, I'm a little tired on this Friday.
03:26OK.
03:28Investors snapping up shares of Ford today.
03:30Up 12 percent, up the most in five years, more than five years.
03:34Company expecting its Novellas' aluminum factor, key supplier to Ford, as we know,
03:38to resume production as soon as late November and ramp up through the year end, earlier than initially expected.
03:44So, listen, this is a big deal.
03:46They also talked about the F-150.
03:49You know, it is its top selling vehicle.
03:52And, you know, this was a major supplier to it.
03:54So really important.
03:55I got to say, Romain, you and Matt are doing a really good interview with Jim Farley yesterday.
03:58We did.
03:59We did, yeah.
04:00I was a little bit better than Matt.
04:01But, yes, thank you.
04:02That's the signature modesty.
04:03That's not what Matt said when he came on air after the interview.
04:06All right.
04:06Let's get to Intel.
04:07Man, I'm just barely making it with this one.
04:10It was up 7.7 percent earlier in the session intraday, finishing the day with just a gain of 0.3 percent.
04:17But I got to say, initially, we felt like investors were feeling a little bit more upbeat about the Intel story,
04:22maybe some of the turnaround happening.
04:24And the upbeat forecast focused, though, investors kind of shifting their focus from maybe the turnaround to saying there's still some lingering challenges.
04:34So I just kind of – I needed to throw that out there.
04:37I just – I don't know.
04:37I didn't want to pull it out.
04:38Anyway, this one's for Romain because I know if I didn't do it, he would do it.
04:42But Grindr up about 19 percent in today's session, up as much as 28 percent earlier in the session.
04:49The company proposing stakeholders submitted a non-mining proposal to buy all of the outstanding shares.
04:54We've been kind of expecting this of the company's common stock that they do not already own for 18 bucks a share, stock closing at 15 and change.
05:01And then I just want to throw in Barrick Mining because just kind of later in today's session, Newmont said to eye a deal for Barrick's Nevada gold asset, according to folks in the know.
05:12So we did see Barrick kick up about 1.7 percent by the close.
05:15It was a little bit higher intraday, up almost 5 percent, but by the end of the close, up 1.7 percent.
05:21All right, Tim, all yours.
05:22Okay, I got a few decliners to choose from.
05:24The worst performer in the S&P 500 today, Deckers Outdoor, the owner of Hoka, Ugg, and Teva brands, down more than 15 percent today.
05:33Hit a low not seen since pretty much exactly two years ago.
05:38The company forecasts 2026 net sales below the average analyst estimate.
05:41Price target cuts coming from Barclays, Needham, Telsey, among others.
05:46Bernstein, as well, I should note.
05:48Alaska Air Group, shares falling more than 6 percent today.
05:51It wasn't just the results that they reported, the third quarter earnings per share missed analyst estimates due to an IT outage in bad weather.
05:59It also warned results for the final months of the year will likely come in below previous forecasts.
06:03So you heard about that IT outage.
06:05Well, there's another one dealing with the aftermath of another IT outage that caused more than 100 flights to be canceled as of earlier today.
06:12That disruption, though, ended at 11.30 p.m. Seattle time Thursday.
06:16Further disruptions were likely Friday as the airline repositions aircraft and crew once again.
06:20Have you seen some of the social media footage of all the lines that were particularly at SeaTac?
06:25You just do not want to be on the receiving end of a system-wide outage like, you know, Delta a couple of years ago with CrowdStrike, right?
06:32Yeah.
06:32Or Southwest Air.
06:34Remember that, Romain, during the big blizzard a few years ago out of Buffalo?
06:37Yeah.
06:37We talked a lot about it.
06:38Yeah.
06:39Yeah.
06:39I mean, it happens, though.
06:40It happens.
06:41And, yeah, I guess make sure you don't unplug anything if you're in the room that controls everything, I guess.
06:48Booz Allen, Hamilton, 9% to the downside.
06:51Those shares fell at one point to the lowest since March of 2023.
06:53They closed down the lowest since May of 2023.
06:57Yeah, May of 2023.
06:58This after the company cut its adjusted earnings per share guidance for the full year.
07:02The new guidance fell short of the average analyst estimates.
07:04A double downgrade from Bank of America.
07:07Truist also cut as well.
07:08I'm just going to add one honorable mention on there, and that was TradeDesk.
07:11The shares were up about 2% during the session, at one point dropping about 6% as we got closer to the close.
07:17A report out of AdWeek here that the ad tech platform there now might be under some pressure from Amazon,
07:23which is offering agencies a more direct way onto their ad platform, basically circumventing TradeDesk.
07:29Meanwhile, you take a look at the screen here and you see where yields ended the day.
07:32A modest drop across the board, which point out this is a little bit of a flip.
07:35Remember, when we got the CPI report earlier this morning, we actually did see yields move in the opposite direction here,
07:41but that changed course just a bit, and now we see a slight drop here.
07:45We should point out, though, on that two-year yield, we're actually higher this Friday than when we were last Friday,
07:50only by about a fraction of a basis point.
07:52But still, basically, we've gone nowhere over the last five days.
07:55All right.
07:55So it's 5 o'clock somewhere, or getting close to being 5 o'clock somewhere.
07:59So I don't know if you guys drink Boston beer, but apparently it's barrel-aged extreme Utopia's beer.
08:06They've been making it, yeah, biannally since 2001.
08:11This year's edition, though, is apparently pretty strong, and you've got a bunch of states that are banning it.
08:1615 states where it's illegal.
08:19This, according to USA Today, it's a blend of vintages, which have been aged up to 30 years,
08:25some in barrels and casks that previously held Irish whiskey, Cognac, Ruby Port, and Scotch.
08:31I don't know how you drink something, a beer that is 30% ABV.
08:35Quickly.
08:36No, not quickly at all.
08:38You chug it.
08:39Not at all.
08:40You shotgun it.
08:40All right.
08:41I have to say, I don't like beer, I don't drink beer, but hearing the blowback and the fact that this is not allowed in certain states
08:49does make me want to try it more.
08:51And what does that mean, not allowed?
08:52Like you can't sell it at all?
08:53They can't sell it.
08:54Or it can only be sold in certain stores?
08:55Yeah.
08:55No, they can't sell it at all in some states.
08:58What about in New York or New Jersey?
09:00I don't know.
09:01It's Alabama, Arkansas, Georgia, Idaho, Missouri.
09:04That makes a lot of sense now.
09:06They're such weird alcohol laws from from state to state.
09:09Yeah, just don't check their internet browsing history.
09:11But we talk about this idea here.
09:12I mean, to and which point out, this isn't the first time.
09:15I mean, who's silent in Chicago has been doing this for years with these special editions.
09:18So kind of weird that they didn't do that.
09:19Another story that caught my eye, Chick-fil-A.
09:22I know Katie Greifel, you're a fan.
09:23Love Chick-fil-A.
09:24Yeah, I know you've had that at least twice today, both for breakfast and lunch here.
09:28Well, the tycoon behind Chick-fil-A, he actually built a movie studio down there in Georgia.
09:32And well, he's been struggling a little bit.
09:34Remember, everybody was filming movies down on those sound stages down there in the greater Atlanta area.
09:39But now they found cheaper places to do it.
09:41And he's kind of trying to find a new a new lifeline for his studio.
09:45Open, then enter what?
09:46Content creators, right?
09:47Because it's interesting.
09:49About one third or a little bit more than a third they're planning to dedicate their facilities to.
09:54Kind of makes sense.
09:55I mean, if you think about content creation, everybody's doing it.
09:58I don't know.
09:59I'm waiting for you.
09:59That's what we're doing.
10:00To do something.
10:01But what's the economy of scale there?
10:02I mean, if I say, OK, I'm going to film the next Superman there, I mean, you're making millions off me.
10:07If I'm just some influencer, I mean, what are you going to charge me?
10:11In views?
10:11I don't know.
10:12It's a good question.
10:13I mean, I don't know.
10:13I mean, I can give you a couple hundred bucks.
10:15These are questions that Dan Cathy is asking himself, I hope.
10:18OK, he's got an eight billion dollar net worth.
10:21Yeah.
10:22Chick-fil-A.
10:22All from.
10:23And this is all from someone fried up a chicken cutlet, put it on a bun and then said, wait, a pickle on top.
10:30So you guys just really wanted to.
10:31You just really wanted to talk about Chick-fil-A.
10:33You don't care about what he's doing.
10:34Every time I went to Chick-fil-A right next to Bloomberg World Headquarters, every time I walked by there, before it even opens, Katie is just standing there looking in the window.
10:42Are you?
10:42Her breath fogging up the window.
10:44I said, Katie, there are other things open.
10:46You know, I have to say that's not quite accurate.
10:49That's a slight exaggeration, but they do a really good job.
10:51It's efficient.
10:52They move that line and oftentimes it's out the door.
10:55All right.
10:56Well, we're I'm going to try it this Sunday.
10:57I'll see how it goes.
10:58Are you done?
10:59Are you done?
11:00All right.
11:00That's all.
11:01OK, we're done.
Be the first to comment