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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 with a global simulcast.
00:09We're joined right now by Carol Masser in the radio booth.
00:12Tim Stenevich by her side.
00:13Welcome to our audiences across all of our Bloomberg platforms here on this Monday afternoon with stocks right now near session highs.
00:20I just want to know where all of you guys were this weekend, because as Tim pointed out, he wanted to know where I was this weekend.
00:25I was not in Paris. Were any of you in Paris?
00:28No.
00:28I mean, I don't know where Romain was, but I certainly wasn't.
00:32Can you imagine one of these two showing up wearing the jewels?
00:37God, there was a gorgeous emerald necklace that was stolen.
00:40Can you imagine?
00:41The story is amazing.
00:42It is. It's crazy. Seven minutes. You can do anything in that amount of time.
00:46All right. But speaking of markets, I'll go back there. But I think it's an amazing story.
00:49Romain hasn't said anything, so I'm a little suspicious.
00:51Anyway, I was thinking of you, Romain.
00:53The first rule of Jewel Heist Club. Don't talk about the Jewel Heist Club.
00:57Small caps, outperformance. I mean, the whole market's up, but small caps are up almost 2% in today's trade.
01:03Okay, that's today's trade. What happens when we hear from all these companies? We're going to hear from a lot of car companies this week.
01:08We'll hear from General Motors and Ford. We'll hear from Texas Instruments. We'll, of course, get Netflix.
01:12An update from Netflix. So does the tone change after today?
01:16How about Zions in just a couple of minutes?
01:17That's going to happen very soon.
01:19I'm very excited for that and to hear, of course, what the C-suite has to say.
01:23We should point out that earnings expectations pretty much across the board have actually crept up over the last few weeks.
01:28In fact, when you look at some of the earnings revisions to the upside, some would say this is actually probably one of the strongest upcycle revisions that we've had in several years.
01:36So the bar being raised just a little bit here, so it'll be interesting to see whether the companies can actually meet that bar.
01:41So far, the beats that we've seen in this relatively short earnings season have certainly been encouraging.
01:47You're taking a look there at a NASDAQ composite up more than 300 points on the day.
01:50I believe that is going to be enough potentially for a record high.
01:54Let me just double check that. Up 300 points or about 1.4% on the day.
01:58The S&P up 71 points or a percent on the day, while the Dow Jones Industrial Average adding more than 500 points or 1.1%.
02:05And the Russell 2000, not just getting in on the action, but actually leading it.
02:1048-point upswing for the Russell 2000, up 1.9%.
02:15Yeah, some nice outperformance. Back to the big caps I go.
02:18And folks, this rally today, pretty broad-based.
02:20Katie, we've got 414 names in the S&P 500 higher in today's session.
02:2585 to the downside, 4 unchanged.
02:27Well, the circle broadly says the same thing when you take a look at the sectors.
02:31There's 9 finishing in the green, just 2 in the red, communication services, materials, industrials.
02:37Those are some of your biggest winners today.
02:39Then you take a look at what didn't do too hot, consumer staples, utilities.
02:43Those are typically defensive sectors.
02:45So to see them down just a little bit here really speaks to just how risk-on this Monday was.
02:51All right, guys, with all that green, lots to choose from.
02:53I just want to point out, sorry, too, just to be clear here, the NASDAQ 100 did close at a record high, but not the composite.
02:58Okay, good to know, good to know.
03:00Hey, having said that, a good reason why we saw that composite moving up on this Monday.
03:06Apple, Apple shares finishing off their highs of this session, but still with a gain of just shy of 4%,
03:11hitting their first record of 2025 after Loop Capital upgraded the stock to buy from Hull,
03:16becoming the latest firm to cite positive iPhone demands.
03:19We did have reporting out on the terminal about Apple's latest generation of iPhones.
03:24We're talking about the iPhone 17 series, off to a faster start than usual with its most basic model surging in popularity.
03:31So, man, that was certainly a lot of momentum in today's trade.
03:34Got to mention Cleveland Cliffs.
03:36That stock up just about 21.5% today.
03:39After the company posted stronger-than-expected earnings and disclosed a pact with another metal producer,
03:44the company said it discovered two sites with potential to produce rare-earth minerals,
03:48one in Michigan, another in Minnesota, and is evaluating whether rare-earth minerals can be extracted from those mines.
03:56So, again, that trade, that play, we continue to see that having momentum here in 2025.
04:02Got to mention Zions.
04:03We are waiting that company to report earnings, that regional bank.
04:07Stock up 4.6% in today's session.
04:10Higher after Wild Week last week on concerns about credit.
04:13The stock, as we mentioned, higher today, two-day gain of about 9% in today's session after dropping 5% last week.
04:21But we'll wait for an update on its business as it gets ready to report in any moment.
04:25And just honorable mention, those rare-earth and critical mineral stocks on the move.
04:30U.S. Antimony among them, this after William Blair came out and talked about these companies,
04:36initiating the companies that didn't outperform.
04:37I just had to mention, because we talked to U.S. Antimony today, the CEO.
04:40That stock was up 19% in today's session.
04:42That is a big move higher, especially for that company that's, what, more than doubled so far this year.
04:48Yeah, like 400%.
04:49Isn't it like 500% in today's session?
04:50It's pretty incredible.
04:51Hey, some of the stocks in the red, not too many, but a couple prominent ones.
04:54I want to start with Oracle, down 4.9%.
04:56Shares fell for a second day in a row.
04:59They fell close to 7% on Friday, down another close to 5% today.
05:04Still up, though, more than 66% so far this year.
05:07No real catalyst for this move, but, again, still up more than 66% so far this year and among the worst performers in the S&P 500 today.
05:16The worst performer in the S&P 500, though, was at 11, down 5.6%.
05:21Shares fell after the New York Post reported that state regulators have reached out to multiple short sellers in a possible preliminary probe for the mobile advertising company.
05:30The states include Delaware, Oregon, and Connecticut.
05:33The report comes after news earlier this month that the SEC has been probing Apple Evans' data collection practices.
05:40And finally, ADRs of BNP Paribas closed down 9% today.
05:44A jury found that BNP Paribas was liable for its role in enabling genocide in Sudan, awarding about $21 million to three plaintiffs.
05:52It's that verdict triggering speculation that the firm will have to agree to expensive settlements, with one analyst estimating a possible settlement of as much as $10 billion.
06:00Shares in France fell close to 8%.
06:03The verdict, though, is, quote, specific to these three plaintiffs, and any attempt to extrapolate is necessarily wrong, as any speculation regarding a potential settlement is, the bank said, in part said, in a statement.
06:15All right, let's take a quick look at yields.
06:17We did actually see prices across the board higher with most of the activity on the longer end of the curve.
06:22That pushed your 30-year yield down by about three to four basis points.
06:26Similar move today for the 20-year, your 10-year yield now at 3.98, down about three basis points, guys, from where it was on Friday.
06:34All right, good stuff.
06:35As we await Zion's Bancorp earnings to cross the Bloomberg Terminal, a couple stories on our radar.
06:41One that caught our attention, this has to do with women-focused resorts are becoming kind of the next big wellness trend.
06:47We've talked about it a lot here on our air about the lack of R&D and attention spent to women's health.
06:52Well, Canyon Ranch is getting ready to unveil its third location, and basically they're going to focus big time on women's wellness, Tim.
06:59Yeah, this is a 600-acre ranch.
07:01It's close to Austin, Texas.
07:03The wellness industry, though, has historically underserved women.
07:06Only 5% of global R&D funding allocated to women's health research back in 2020.
07:11But now these companies are really seeing an opportunity for that, and they're coming out with these targeted retreats focusing on women and focusing on attracting women to these places.
07:22I love Canyon Ranch.
07:24I went there with my mom and my aunt when I was, like, a preteen, which was a weird vacation.
07:28Which one did you go to?
07:29We went to the one on the East Coast.
07:31I feel like it's, like, upstate somewhere.
07:34Berkshires?
07:34Like, outside the Berkshires?
07:35That sounds about right.
07:36It was great.
07:37That's all I have to add.
07:38Well, I think the majority of people who go to them are women already.
07:42Yeah.
07:42So they're just trying to broaden their appeal, or not even broaden their appeal, but focus on that demographic.
07:48And dig deeper, I feel like, into kind of serious health issues for women as they get older and so on, or different stages of their life.
07:54Well, speaking of wellness, another story that I was keeping an eye on was kind of the waning interest that we've seen in a lot of sort of wellness products, particularly in the food space, particularly when it comes to these alternative milks, if you will.
08:06Remember, it was all the rage.
08:07You get your nut milk, your oat milk, and all these things.
08:10Well, CEO of Oatly gave an interview to the Financial Times and talked a lot about just the drop that he's seen in demand and said a lot of this he's blaming, at least, on the lack of discussion about climate change and other things that, I guess, helped to sort of create this industry in the first place.
08:27I thought that, I mean, at least when it came to almond milk, they got a lot of bad press for just how water-intensive almonds were.
08:35Or, oh, maybe a different story there, but, I don't know, it does just feel like one of those fads that we've put behind us.
08:41But if you're the CEO of one of these companies that soared so much when this was in the zeitgeist, I could see it definitely being in the hurt locker right now.
08:48Oh, they're doing it on record?
08:49Oh, sorry.
08:51There you go.
08:51So people are fed up with climate talk?
08:53Is that it?
08:54And so there's a pushback?
08:55Well, I think the idea is that we're not putting as much focus on it, like, you know, the royal we.
09:01And that that means that, I guess, one of the main selling points of a lot of this, obviously, it wasn't just nutrition, but it was the idea that somehow what we were drinking was better for the environment.
09:09Whether that was true or not, who knows?
09:11But that was the argument.
09:12Just anecdotally speaking, I mean, I kind of tried all this stuff back in early 2020s.
09:16The beyond meats and the impossible.
09:20But I think a lot of people were like, wait a second.
09:23This is kind of moving away from single-ingredient things, right?
09:27And it's processed in a way that they don't necessarily want.
09:30Well, that was a big thing for me, Tim.
09:31I mean, you know, it was like, you know, as you started to look at the ingredients in some of this stuff, you're like, well, how is this actually better for me than just, I don't know, eating a salad or something, like you said, a little bit purer.
09:40So, you know, again, it's a trade-off.
09:42I will say the one thing I appreciate about these milks is that, at least as far as I understand, you don't have to refrigerate them.
09:48So that was cool.
09:50But don't take that advice, right?
09:52Yeah, you don't have to refrigerate a cow either.
09:54They just live outside, Katie.
09:55It's true, but you should refrigerate cow milk.
09:58I don't know.
09:59This is why we should just drink tequila, okay?
10:02Let's just put it out there.
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