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00:00And right now we are two minutes away from the end of the trading day.
00:04Romain Bostic alongside Katie Greifel taking you through to that closing bell with a global simulcast.
00:09Carol Masser and Tim Stenevich join us from the radio booth.
00:11Welcome to our audiences across all of our Bloomberg platforms.
00:15Everybody.
00:15Carol Masser, everyone, well, almost everyone, you know who you are.
00:19But it is green across the screen today once again, Carol, with all, most of the major indices at record highs.
00:24Yeah, absolutely. Kind of interesting to see that.
00:26I've been looking at the semiconductor names.
00:28They are really atop the major indices in terms of outperformance.
00:32The Sox, folks, just up about 2 percent here as we are just a few minutes away from the closing bell.
00:38Typically, I'd talk about how, you know, tomorrow's payrolls print will be an important one to watch.
00:43We're likely not going to get that as a result of the government shutdown.
00:46Instead, we're talking about some data from Challenger Gray in Christmas today, Katie,
00:51that shows this kind of no hire, no fire environment happening in the job market out there right now.
00:56Yeah, it's a conversation that we're having, this urgency that's been placed on alternative sources of data
01:01and how complete of a picture you can put together about this economy when you look at all those different sources.
01:08And it seems like, of course, the answer has been that the official government data is still the gold sander.
01:13But we're not going to get that.
01:14Yeah, just also just so real quickly to just to point out to our viewers, seeing some headlines crossing the wire right now on Boeing.
01:21The shares were they're still in the green, but took a slight leg down here.
01:25Now learning that that's triple seven X is said to slip into 2027, which, of course, would drive an additional billions of dollars in charges here.
01:34We're going to keep an eye on that story.
01:36But no matter where Boeing goes right now, the markets are still going to finish the day in the green and finish strong as they would.
01:43The Dow Jones Industrial Average up roughly about 100 points or about two-tenths of a percent.
01:49But that's going to be good enough for a record high.
01:51The S&P 500 only up about five points or about a tenth of a percent.
01:55But that's also going to be good enough for a record high.
01:57The Nasdaq Composite and Nasdaq 100 each up about four-tenths of a percent to a record high.
02:02And the Russell 2000 closing higher by about 16 points or seven-tenths of a percent, just about 10 to 15 points or so away from its last record high.
02:11All right.
02:11And then when you dip back into the S&P 500, you do see slightly more names gaining ground on this Thursday, Katie.
02:18278 names in the S&P 500, higher at a 221 to the downside for unchanged.
02:23All right.
02:24Let's take a look at the sector level as well and see what the story is there.
02:28Take a look at the circle.
02:29And once again, information technology, your tech names, are the biggest points contributor there.
02:35But you also saw some signs of life when it comes to communication services, industrials, materials.
02:40Those are your four sectors that finished in the green.
02:42What didn't do too hot today, consumer discretionary energy, also consumer staples, dragging us to the downside.
02:49But when you have information technology showing up in such a big way, you're going to see things generally be green.
02:56All right.
02:56Let's get to some of the individual gainers.
02:58And I've got to say, it's not names that I necessarily talk about a lot.
03:01Fair Isaac.
03:02All right.
03:03Just before you judge, listen up.
03:05Fair Isaac.
03:06You know the ticker FICO, F-I-C-O.
03:09That one up as much as 32% in today's session, finishing with a gain of just shy of 18%.
03:14This surging number one gainer in the S&P 500, after saying it will now sell credit scores directly to mortgage resellers.
03:23So it's a move that sent shares of third-party credit bureaus, Equifax and TransUnion plunging.
03:28So some changes there in that dynamic and selling of credit scores.
03:33Here's another one.
03:34We don't talk about a lot, guys, but it caught my attention.
03:36It has to do with Microsoft's deal with the neocloud company, Nebius Group, NV.
03:41It's going to provide computing power to internal teams creating large language models and a consumer AI assistant, according to folks familiar.
03:48So the arrangement, which is worth about $19.4 billion, sparked a rally in Nebius shares.
03:54Again, ticker NVIS.
03:55We don't talk about it a lot.
03:57Up just about 9% in today's session.
03:59This deal apparently outlined in early September, but the announcement, there wasn't a lot of the specifics on it.
04:08When it was announced, though, the shares in the U.S., the ADRs, jumped about 50% on September 9th.
04:13So, yeah.
04:15Yeah, no, I'm into the story.
04:16I mean, good one, Carol.
04:17Well, the ADRs are up 335%.
04:20But it gets to this idea sort of like of the idea of what options these companies have.
04:24I mean, we had the core we see on last week, and there was this whole idea that they were kind of, to a certain extent, the only game in town.
04:31Obviously, we know there are other companies, including Nebius and a couple others, but not a whole lot to go around,
04:35particularly when you take into account just how much capacity a company like Microsoft or Meta or Alphabet needs.
04:42Right.
04:42So they're searching, right?
04:43Hence, these neocloud companies certainly stepping up.
04:45Hey, one more, too.
04:46I think I mentioned it yesterday, AST Space Mobile.
04:49This one has been on a tear, rallying in the last couple of days, up another 16% today after gaining 16%.
04:57Did you guys interview the CEO earlier?
04:58The president, actually.
05:00The president, okay.
05:00It's really kind of fascinating.
05:01This is, you know, you think about satellites up in the air, and you think about Elon Musk, and you think about SpaceX.
05:07But there are other players, including Amazon and AST Space Mobile.
05:11And this is a company that has been kicking up satellites into the air, kind of low orbit.
05:16But it's also all about really reaching kind of the cellular space.
05:20And this one has just been on a tear.
05:22Yeah, they're partnering with AT&T and Verizon, or SpaceX's Starlink has partnered with T-Mobile.
05:28And he was telling us that the signal can actually get through one wall.
05:33One wall.
05:33So, like, if you're in a building somewhere, it can get through one wall.
05:36So, it's not going to get in, like, a cell phone can.
05:38But better than, you know, if you have a garment or something in your inside, it doesn't necessarily work.
05:42So, sort of better technology.
05:43This is another outperformer this year.
05:45It's up about 200% year-to-date.
05:46Right now, though, 20% of the float is short.
05:48But nonetheless, interesting.
05:50If you missed that interview, by the way, flipping my hair, you can check it out at Bloomberg.com.
05:55Well, let's talk about some decliners.
05:56I want to talk about the biggest decliner on a points basis in the S&P 500.
06:00That would be Tesla down 5.1%.
06:01Interestingly enough, shares were up as much as 2.5% earlier in the session, then turned lower.
06:07The company did report a surprise record quarter of vehicle sales.
06:11This as U.S. consumers accelerated EV purchases before those federal tax credits expired.
06:16Still, though, analysts are concerned about what things look like moving forward.
06:20Garrett Nelson over at CFRA said,
06:22Looking forward, we still think there are major questions regarding the earnings impact of legislative changes
06:26on the tradable emissions credit market and EV demand in an unsubsidized U.S. market.
06:31Shares down 5.1% today.
06:34The second worst performer on a percentage basis in the S&P 500, that goes to Occidental Petroleum.
06:39Shares fell more than 7% today after the company agreed to sell its Oxychem petrochemical unit to Berkshire Hathaway
06:46for about $9.7 billion in cash.
06:49Analysts did note that the sale is below the $10 billion that they had been expecting.
06:52Also, Vicky Holub, the company's CEO, came out and said that the focus is now on organic growth
06:57after using about $6.5 billion of the proceeds from the sale to reduce principal debt at the company.
07:04Once again, Oxy shares down 7.3%.
07:07And finally, Equifax, off of what Carol was saying, Equifax down 8.5%.
07:12It is the worst performer in the S&P 500 today.
07:15Shares of credit reporting companies, including Equifax, plunged after Fair Isaac announced this new program
07:21that gives mortgage lenders the option to calculate and distribute FICO scores directly to customers.
07:26It's a major shift in how FICO scores are delivered in the mortgage industry.
07:30Let's take a quick look at yields.
07:32A mixed state here.
07:33You did see the longer end of the curve.
07:34Continue to see yields move lower for the third day of this week.
07:39Meanwhile, on the shorter end, you did see a slight uptick in yields.
07:41But we should just point out, one of the fallouts of the government shutdown is because of that lack of data,
07:47volume in the Treasury market is incredibly light.
07:49Of course, remember, volume typically spikes around some of those big government data releases.
07:54And, of course, not getting the weekly jobless claims today.
07:56And, of course, not getting the monthly jobless unemployment numbers tomorrow here.
08:00So just take some of the price action with a bit of a grain of salt.
08:04Yeah, it's going to be an interesting day tomorrow.
08:05No doubt about it.
08:07Hey, let's take a look at some stories that have definitely caught our attention.
08:10If you're worried about Taylor Swift, you know, there is still some uncertainty about the environment.
08:15What?
08:15Don't worry.
08:16The environment?
08:16Well, you know, there are some questions about kind of what comes next, right?
08:19We do see some people who are struggling with jobs and so on and so forth.
08:22But when it comes to Taylor's world, she's definitely set.
08:26Just was it last year that we marked her a billionaire?
08:30Mm-hmm.
08:30And now it turns out she's actually a two billion year.
08:34Can we say that two?
08:36She's doubled.
08:37A multi-billionaire.
08:38Yeah, $2.1 billion, according to the Bloomberg Billionaires Index.
08:43It apparently has a lot to do with just the money she's made being Taylor Swift.
08:48They think that she's invested it pretty well, given that her father's an advisor at, was it Morgan Stanley?
08:55I didn't know.
08:55I thought he was a, um...
08:57I know.
08:57I thought he was a Christmas tree farmer.
08:58Just because she...
08:59Just because she...
08:59I thought he was a Christmas tree farmer, guys.
09:01Wait, I'm confused.
09:01I thought she was like...
09:02She grew up on a Christmas tree farm, but I understand that, you know, maybe it was more of a side hustle for the family because her father did have some financial advisor roots.
09:12But also, she's, you know, a grown woman and smart on her own.
09:15So that probably helped, too.
09:16Sorry.
09:16Merrill Lynch.
09:17Excuse me.
09:17There you go.
09:19Correction.
09:20But her new album comes out tomorrow.
09:22I'm psyched.
09:22So that's probably going to add another cool billion dollars or so.
09:25Are you dressing up and going to this movie thing or something?
09:27I don't think I'm that excited, but I am excited to listen to it on the path home.
09:33The only interesting thing about Taylor Swift, at least that I would have, is like, actually, where is she putting her money?
09:38And, you know, you talk about this idea of sort of where to invest, Carol Master.
09:42Don't interrupt me, Carol.
09:44Did you take a look at OpenAI's valuation?
09:46$500 billion, the latest funding round here.
09:48I don't know.
09:49Did Taylor Swift invest in that?
09:50I would love to ask her.
09:52You know what she did?
09:52I feel like she's in low-cost index funds.
09:53You know what she did invest in?
09:55Yeah, that's very funny.
09:56No, not a chance.
09:56She's buying munis, tax-free munis.
09:58No, she did buy back, remember her catalog?
10:00Yeah.
10:01And that's a really, really big chunk of her wealth, so.
10:03I've heard, yeah.
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