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00:0059.18 on the S&P 500, Alex Steele up 2%, the Nasdaq up 2.5.
00:05Yep, and there we go, guys. We keep climbing higher, bouncing off that 200A for the S&P, Carol.
00:10Yeah, I mean, look at it. We're seeing some buying into the close here.
00:14Quite a rally. I'm just trying to make sense of, again, what has really changed in terms of the fundamental backdrop.
00:21Well, I guess what's changed is the EU and the U.S. are speaking, and consumers maybe were a little less stressed about tariffs.
00:27At least the portion of consumers who answered the questions from the conference board about how they're feeling about things right now.
00:35I mean, you sound kind of skeptical.
00:37I am. Well, look, you know, we talked to Mike McKee about this. He said, take this one with a grain of salt.
00:42We will.
00:42And look, there were also some nuances to the data. People are still very concerned about the job market right now.
00:47Yeah, I mean, look, yes, the labor market outlook was certainly dour, continuing to deteriorate here.
00:53But shorter term, there were people basically saying, look, we're willing and able and ready to spend money right now.
01:00And at least in the short term, that's a positive. We made a lot of hay when that thing was going down.
01:04Yeah, I love making hay. But I think also the difference is, is when you have President Trump saying that maybe we don't have to make everything in the U.S.,
01:10that gives some relief to some of those retailers. Right. We're not going to be making T-shirts here.
01:15Maybe there are more exemptions that are coming down.
01:17All right. Well, we get the closing bells here in New York on this Tuesday afternoon.
01:22Remember, of course, Monday was a holiday here in the United States.
01:25So it gave folks a little bit of time to kind of parse some of the negative news that came out on Friday
01:29and coming in today with some relatively positive news.
01:33The Dow Jones Industrial Average up more than 700 points or 1.8 percent.
01:37The S&P 500 up more than 100 points or 2 percent.
01:40The Nasdaq Composite up about 460 points or 2.5 percent, while the Russell 2000 also adding about 50 points or 2.5 percent.
01:49All right. Just taking a look at the S&P 500, folks, you've got most names in the index higher today, 469 to the upside, guys.
01:58And so the remaining, for the most part, to the downside.
02:01So, yeah, much more of a risk on trade today.
02:03All 11 of the S&P sectors were in the green on the day, led primarily by consumer discretionary stocks and tech stocks.
02:11Both of those indices up about 3 percent on the day.
02:14The laggards, relative laggards, we should point out, energy, utilities and consumer staples.
02:19And they lagged because they were only up by 1 percent.
02:21Where's Scarlett? I'm not used to, like, Scarlett not doing the IMAP.
02:25Wow. Are you dissing Romain?
02:26A little bit.
02:26He delivered. He delivered.
02:30He did it well. It just was like I was a little confused.
02:32Should I have said the spinach pie?
02:34There we go.
02:35All right. All right. Now it feels like it should.
02:37All right. Let's get to some of the individual gainers.
02:40All right.
02:41You pulled us there.
02:42Okta earnings. Excuse me. I'm busy. I'm actually working here.
02:45Okta out with first quarter adjusted EPS, 86 cents a share.
02:48The estimate on the street was 78 cents.
02:50So coming in stronger than expected.
02:52First quarter revenue, folks, $688 million.
02:54That, too, is coming in better than expected.
02:58$680.6 million.
03:00Stock's down about 11 percent.
03:01So here's the outlook.
03:03Second quarter revenue, $710 to $712 million.
03:06The estimate is $709.8 million.
03:09Investors not loving it, guys, though.
03:11Stock down about 10 percent.
03:12So there's got to be a little bit more to it.
03:14So we'll wait for some more headlines to come across.
03:16In the meantime, let's do some of the individual gainers.
03:18Hologic, definitely on that list, up about 14.5 percent, up 25 percent at its highs today,
03:23but finishing with about a 14 percent gain.
03:26We also saw a trading pause.
03:28Top gainer in the S&P 500.
03:29TPG and Blackstone making an approach to take the company private, offering to buy the group
03:34for more than $16 billion.
03:36This is coming from the Financial Times, signing unidentified people familiar with the matter.
03:40So definitely a standout there.
03:42U.S. Steel, excuse me, also an outperformer.
03:45That stuck up about 2 percent in today's session after CNBC's David Faber said that U.S. Steel,
03:51Nippon deal is going to close probably very soon.
03:54There's been a lot of speculation after last week.
03:57There was reports from the president about a partnership.
04:00But nonetheless, we're expecting maybe some news on Friday.
04:02So we'll see where that goes.
04:04Warner Brothers Discovery, guys, it was up about 6 percent in today's session.
04:07I'm not sure that there was a clear catalyst.
04:09Benzinga writing that the video game adaptation of The Last of Us has been one of the most
04:14watched and anticipated series on HBO and Mac since the release of its first season in
04:182023.
04:19So the second season's over.
04:21Everybody's looking at those viewership numbers.
04:23So maybe that gives the stock some juice.
04:26And I had to do this one.
04:27This is kind of a gift for you, Tim.
04:29Vertical Aerospace, EVTL, is the ticker, EVTL, up about 14 and a half percent.
04:35The company says it made European aviation history with the first ever piloted flight
04:40of a winged electric vertical takeoff and landing EVTL aircraft in open airspace.
04:45So there you have it.
04:46Cool.
04:46I had to go for four.
04:47I just want to know how loud it's going to be.
04:49How loud is it going to be?
04:50That's the question I have.
04:52Also, pickings are really slim when it comes to decliners today, guys, on a day where you
04:58see such broad-based rallying.
05:01Bear with me, though.
05:02We got a 13.6 percent decline to ADRs of PDD Holdings.
05:06It is the parent company of Timu.
05:09The stock here, or the ADRs here in the U.S., fell as much as 18.4 percent.
05:14The company's quarterly sales and profit misestimates, though, did highlight the impact of trade
05:18tensions between Washington and Beijing on its business.
05:22The company does face intensifying competition in the domestic China market by the shifting
05:26trade policies from the Trump administration that have hurt Timu and will have to make
05:31pricey investments to adjust its business model.
05:33That can weigh on profitability in the short term.
05:37And speaking of the Trump administration, the president's Trump Media and Technology
05:42Group, the company that he owns a good portion of shares, shares fell today by 10.4 percent.
05:49The company did agree to sell around $1.5 billion in stock and a billion dollars in convertible
05:54bonds to buy Bitcoin for its treasury.
05:56If that sounds familiar, it's because it's exactly or pretty similar to what Michael Saylor
06:00has done over at the company formerly known as MicroStrategy, now called Strategy.
06:05Shares fell as much as 12 percent earlier in the session, but again, closed down by about
06:0810.4 percent.
06:10The company has about $760 million in cash to defend against the financial institution
06:16and create synergies for subscription payments and other transactions.
06:20Finally, talking about Severa Pharmaceuticals, its pharmaceutical company fell as much as
06:2633 percent in the session, down 32 percent on the day.
06:29This after the FDA said the company's drug application for Mulbrevy to treat patients with
06:34a rare lung disease was incomplete and needed to be refiled.
06:37All right, I'm going to the bond market, guys.
06:38That's where the action continues to be.
06:40We saw buying all across the curve.
06:42And look at that back end, down by about eight basis points.
06:44That was the biggest drop in yield since March.
06:49So take a look at that.
06:50Now, we had that two-year auction.
06:51It was all right.
06:52I mean, the bid to cover was strong, but so was the high yield rate coming at 3.95 percent,
06:58meaning that, like, there are buyers at what yield.
07:01They need that juicier yield in order to buy.
07:04But a lot of this was dictated by what the finance minister in Japan talked about, potentially
07:08reducing those long-term issuance within the market.
07:11And we saw a global bond rally, particularly in the back end, because of that, guys.
07:15All right.
07:16Go ahead.
07:17Go ahead, Carol.
07:18I don't want to interrupt you.
07:19Yes, you do.
07:21I just want to point out a headline, Vail Resort's reaffirming its fiscal 2025 guidance.
07:26So another thing coming in.
07:27Hey, we're going to go to something a little bit lighter.
07:30Captain America, you know, Chris Evans, that kind of cute guy, apparently is putting, can
07:34I say that?
07:35He's putting, thank you, Finley, picture.
07:38Look at that little salt and pepper going on.
07:41He's putting his L.A. home on the market for just under $7 million.
07:45It's nearly double the $3.5 million, Tim, that he paid for it back in 2013.
07:49Three bedrooms.
07:51There's an ADU.
07:52I'm sorry.
07:52Only three bedrooms?
07:53Three bedrooms.
07:54There's an ADU.
07:56Okay.
07:56Accessory dwelling unit.
07:58It's got a separate entrance.
07:59It's got a bedroom and kitchen.
08:00There's a gym.
08:01That's what the ADU is now, but it could also be used as a guest house.
08:04Yeah.
08:05Yeah, stuff is expensive.
08:06I love this story.
08:06In this area.
08:07Because it really makes me feel better about living in New York City.
08:09So $7 million for a three-bedroom house with an ADU.
08:11Yeah, but it's a 4,600-square-foot house.
08:13I guess there's just a lot of entertaining space, maybe?
08:16I guess.
08:16Some people are like that.
08:17Maybe the bedrooms are huge.
08:18How many bathrooms?
08:19If it's less than six, I'm not interested.
08:22Well, anyway, if you are the kind of person that can actually afford to spend $7 million
08:25on a three-bedroom house in Los Angeles, you also might be the kind of person that can
08:29afford to hire your own private pilot.
08:31An interesting story on the terminal today about Starbucks looking for a corporate pilot
08:35to pilot their corporate jets.
08:36They're offering a salary range of $207,000 to $360,000, and the ideal candidate must have
08:43experience with the G6 and G7-type Gulfstream models.
08:49Now, I was surprised at how juicy that price tag seemed, but you had remained like, what
08:53do you mean?
08:54It should be higher.
08:54And I was like, I don't know, $360,000 feels super high, no?
08:57But this also requires you to assist in handling passengers' bags, establishing security when
09:02they're away from home base, not to mention the ability to travel extensively and on a
09:07dime.
09:08Alex, I mean, if you work for an airline, if you're a senior pilot on the airline, you're
09:11making this much money.
09:12You've got a set schedule.
09:13You have a lot more flexibility.
09:14But now I've got to be, what, the Sherpa for these Starbucks executives for, what, a
09:18measly, measly 207 to 360?
09:22But then you're also flying non-commercial jets.
09:23You can't afford to buy a house in L.A. on that.
09:25Versus, like, a huge plane, which delays and issues.
09:28You're not in your own private airport.
09:30I'm on board.
09:30Did you see it also says that the captain would serve as a, quote, Starbucks ambassador,
09:35both at home and abroad?
09:36This is a lot.
09:37They're asking a lot for this job description here.
09:39I don't know.
09:42Now, the good part is, I assume you get a lot of free coffee, right?
09:44Yeah, I was going to say, I'm guessing they serve Starbucks on board.
09:47I'm sure they, I would hope so.
09:48Just an adventure of that.
09:49Do they have, like, their own barista on the plane?
09:51That would be cool.
09:51That would be cool.
09:53Probably not.
09:54Do you like, when you go into Starbucks, you just put on the cup, Captain?
09:57I don't go to Starbucks, but thanks.
09:58Nice, nice.
09:59Which somehow circles back to your sevens.
10:00I don't drink coffee, so it's not a commentary on Starbucks.
10:03All right, that's a wrap.
10:04I'm not a coffee drinker.
10:04This is Carol.
10:06It's all heart.
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