- 14 hours ago
Category
🗞
NewsTranscript
00:00And right now we are two minutes away from the end of the trading day.
00:03Romain Bostic alongside Katie Greifeld taking you through to that closing bell with a global simulcast.
00:08We're joined now by Carol Masser and Tim Stenevek, both in the radio booth.
00:12As you welcome our audiences across all of our platforms, including our partnership with YouTube, to parse the most crucial moments of the day.
00:19And Carol, nothing is more crucial right now than the news that just crossed the wire that Charlie XCX is back in the studio.
00:25Oh, I thought you were going to go to AppLovin, but no, that's not where you went, because I know that stock is under some pressure.
00:31We'll have to come back to that.
00:32I am, though, looking at the semiconductor space overall, thanks to AMD and the OpenAI deal.
00:38Does Carol know who that is?
00:39Yeah, I know.
00:40Yeah, we know Charlie.
00:41Ouch!
00:42That hurts.
00:43She's in a feud with Taylor Swift.
00:44Come on.
00:45I know she is, but, you know, everybody is at one time or another.
00:48Let's not forget the collaboration that came out about a year ago, Charlie XCX and Bon Iver.
00:54Okay.
00:55Oh, oh, okay.
00:56Oh, a little flex over here.
00:58He's a huge fan.
00:59Highly recommend checking that one out.
01:02Thanks for the mansplaining.
01:04Really appreciate it.
01:05I didn't mansplain at all.
01:06Felt like mansplaining to me.
01:08Okay.
01:08Can you guys do this?
01:10Semiconductor stocks up 3%.
01:11Thank you so much, AMD.
01:13I mean, that one's up 23% alone.
01:15Take it away, guys.
01:17Oh, or we're taking it away?
01:18You've got to help me out here.
01:20I thought we were still talking about what's going on.
01:22Hey, look, I mean, in all seriousness, we talk about a market.
01:25At record highs.
01:26But more importantly, why it's at record highs.
01:28OpenAI makes another big announcement.
01:30This is involving AMD.
01:32They hold a developers conference.
01:33They mention Figma.
01:35They mention HubSpot.
01:36They mention all these third-party app developers.
01:38And you see a big rally there.
01:40That is the trade.
01:41And at least for the last few days, and quite frankly, the last few weeks, it seems to be
01:44the only trade in town.
01:46A big part of the reason why you see the Dow Jones Industrial Average in the red here on
01:50the day, while you see the S&P 500 in the green at a record high, up about 25 points or four-tenths
01:56of one percent.
01:56The Dow down 64 points or about a tenth of a percent.
02:00The Nasdaq Composite and Nasdaq 100, each up about seven to eight-tenths of one percent on
02:05the day.
02:05Record highs around the horn there.
02:07And look at it, Lou.
02:08The Russell 2000 holding its gains from last week, up 10 points, four-tenths of a percent
02:12or fresh record high.
02:14I love when you say, looky, Lou.
02:15All right, let's get to the S&P 500.
02:17Folks, it's up seven days in a row, as Romaine was pointing out.
02:20It's up about two percent in those seven days.
02:22Katie, if I look at the trade, though, you had about half higher, half lower.
02:27So it's not like everybody was enjoying the move up to another record close on the S&P 500.
02:33It was slightly better if you take a look at it through the lens, through sectors.
02:37You had seven sectors in the green, just four in the red.
02:40What was leading the charge?
02:41Which, who other than information technology, up about six-tenths of a percent as a whole.
02:47Consumer discretionary also punching above its weight.
02:50So, too, did communication services.
02:51Why is it called information technology?
02:52I don't know.
02:53I always feel like I'm saying its formal name, its government name.
02:56That's just what the terminal tells me.
02:57Just call it IT.
02:58IT.
02:58Yeah, there you go.
02:59That feels so outdated.
03:00It's like communication services.
03:02Yeah, I couldn't tell you.
03:03But tech, information tech leading gains there.
03:06I will just point out healthcare having a bad day.
03:09It's been an interesting sector as of late, but right now, interesting to the downside.
03:12Healthcare.
03:12Now, that's a name that's timeless, right?
03:14Oh, yeah.
03:14I know exactly what that is.
03:16We don't just call that HC.
03:17We have to call it healthcare.
03:18All right.
03:18Let's go to some of the individual gainers.
03:20I mentioned semiconductor outperformance, the Sox outperforming.
03:24Thank you, AMD.
03:25We know the story.
03:26You guys have spent a lot of time talking about it.
03:28It's been really our big business story here on this Monday.
03:32AMD shares up as much as 37% at their highs today, finishing with a gain of just shy of 24%.
03:39I mean, holy moly, Batman, the AI rally and the chip grab.
03:43It is on in a big way.
03:45We've spent a lot of time just trying to figure out the spend, the companies that are working together.
03:51I mean, does it all play out?
03:52Will the revenues ultimately be there?
03:54And I feel like I guess time will tell.
03:55But anyway, AMD, top gainer in the S&P and NDX that deal with open AI for AI infrastructure could generate tens of billions of dollars in new revenue.
04:05Yeah, that brought back a lot of memories, like when I would get off school as a kid and you watch the old reruns of like the original Batman.
04:09Holy moly, right?
04:10Burt Ward and Adam West.
04:11I know.
04:12It was iconic, right?
04:14It was.
04:15Absolutely.
04:15Good stuff.
04:16Good stuff.
04:16Great memories.
04:17Tim and Katie have no idea why.
04:18Yeah, they're like, who, what, where, and why.
04:19I'm reminiscing.
04:20All right.
04:21Let's get to another big gainer in today's session.
04:22I don't know if you guys checked out Critical Metals today, ticker CRML, at its highs, up 109%, finishing with a gain of 45%.
04:30This after Reuters reported the Trump administration officials have discussed taking a stake in the metal mining company.
04:37If finalized, a deal would give the U.S. government a direct investment in the largest rare earths project in Greenland, again, according to the Reuters report.
04:45So, again, this is something, a theme we've seen about the U.S. government taking potentially ownership stakes in various companies that they deem important to U.S. security.
04:57And then Comerica.
04:57We had a big bank deal.
04:58Let's not forget that.
04:59Fifth Third, Bancorp agreeing to buy Comerica for about $10.9 billion in stock.
05:03It would be the largest U.S. bank deal this year.
05:06We've seen several bank deals happening.
05:07And, again, Comerica, Tim, up about 14% in today's session.
05:12All right.
05:12Well, let's talk about some notable decliners in the S&P 500 today.
05:16Among the worst performers on a percentage basis was Verizon, ticker VZ, actually shares closing the worst or worst one-day drop, I should say, going back to April of this year.
05:28So, some surprise news from the C-suite.
05:30Hans Vestberg out after, what, eight years as CEO, since 2018.
05:35So, seven years as CEO.
05:37Former PayPal CEO Dan Schulman coming in as CEO, replacing Hans Vestberg.
05:41Vestberg will stick in the role of advisor to the company for the next year.
05:46He's going to help ensure a smooth transition, including the integration with Frontier Communications.
05:50That purchase went through of late.
05:52Verizon has been losing subscribers and market share.
05:54It did shed 51,000 monthly mobile customers in the second quarter.
05:59Schulman, actually, he's known for eBay and PayPal, but he also had experience at AT&T.
06:04Virgin Mobile, like, more than 20 years ago, he was the founder of that company.
06:09And he was there for 10 years.
06:10And then he was at Nextel Sprint.
06:11So, he's got some experience in the communications space.
06:14Once again, shares down 5.1%.
06:17That's called street cred.
06:18Street cred.
06:19You know, I always thought of him as a Silicon Valley guy.
06:21That's kind of like when he got on my radar and a payments guy.
06:24But so, it's interesting that this is, you know, and he's been on the board for years, too.
06:27Fifth Third Bank finishing down 1.4%.
06:30Carol talked about the increase in Comerica's session today.
06:35Fifth Third, the acquirer shedding 1.4% today.
06:38This, after it announced a deal for about $10.9 billion in stock.
06:42It is the largest U.S. bank deal this year.
06:45We're going to be speaking with Herman Chan about this in just a few minutes.
06:48And then a late-breaking addition.
06:49You already spoke with him.
06:50You did.
06:50I saw him on your air.
06:51It was really good.
06:52Was it good?
06:52Yeah.
06:53Thanks for warming him up for us.
06:55We did sort of like a whole hour on AMD, OpenAI, everything happening with sort of the NVIDIA and the AI trade today.
07:04Yeah.
07:04It was a lot.
07:06Yeah, we almost did, too.
07:07You almost did.
07:07Not quite.
07:09This was a late addition.
07:10AppLovin shares falling 14%.
07:12They cratered right at 3.41 p.m. Wall Street time today.
07:16This was after Bloomberg News reported that the SEC has been probing AppLovin's data collection practices, specifically allegations that the company violated platform partners' service agreements to push more targeted advertising to consumers.
07:29AppLovin declined to comment on the probe, saying it regularly engages with regulators and would disclose any material developments through public channels.
07:35The SEC didn't comment due to a shutdown.
07:38All right.
07:38Just real quickly, let's take a look at yields.
07:40We're going to look at Treasury yields here in the U.S.
07:42You did see the move higher across the curve with the longer end of the curve, seeing the most action.
07:46But we should point out, this was actually a global phenomenon.
07:49Remember, we had a lot of developments over the weekend, including the extension of that government shutdown here in the U.S., a government in France that lasted, what, like, less than the lifespan of a mayfly.
07:59And then, of course, you have a new, potentially a new prime minister in Japan that is expected to also put some downward pressure on bond prices over there here.
08:07So globally, you saw a little bit of a sell-off when it comes to sovereign debt.
08:11All right.
08:11Well, with so much uncertainty about global governments, it's good to know that there's something we can really count on.
08:17And that has to do with Taylor Swift, right?
08:19She can sell stuff.
08:21She can sell things.
08:23She can, right?
08:24So we had, what, her album, The Life of a Showgirl, it sold 2.7 million copies in the United States on its first day.
08:31So it's kind of amazing.
08:33It broke a record.
08:34But it's not just that.
08:35People actually went to theaters to see Taylor.
08:37Yeah, Listening Party, the highest-grossing picture.
08:40Huh?
08:40That's ridiculous.
08:41Who would do that?
08:41A few of our producers, at least.
08:43Did you guys do that?
08:44No.
08:44Okay.
08:44No.
08:45The official release party took in $34.1 million in ticket sales in the U.S. and Canada, another $16 million internationally.
08:52An AMC exclusive.
08:55I didn't, it's a second, it's a second Swift picture released by AMC.
08:58Adam Aaron, the company's CEO, we've spoken to him in the past.
09:01I didn't realize this until I read this story by Thomas Buckley.
09:03He's close friends with Taylor Swift's parents.
09:06Yes.
09:06I didn't realize that.
09:07Yeah, yeah, yeah.
09:07I've never written a whole story about that back in the day.
09:09Yeah.
09:10Well, I did not make it out to the Taylor Swift extravaganza this weekend.
09:14I was too busy preparing for earnings.
09:15You know, we're expecting earnings out of Constellation Brands.
09:18Of course, big maker of beer, Modelo, your favorite, Tim.
09:20Modelo Light, excuse me.
09:22Okay.
09:22But, you know, there's been a bigger story here.
09:24This idea that we're not drinking as much.
09:26And now there's a lot of concern right now that some of the retaliation, retaliatory actions
09:32by people overseas who are upset with our trade policies here aren't buying U.S. products,
09:38basically U.S. whiskey.
09:40We actually have some numbers here.
09:41Export of U.S. liquors, including bourbon, fell 9% from a year earlier, with shipments to
09:47Canada plunging 85% to less than 10 million in the period.
09:52It is pretty amazing.
09:54I mean...
09:54So what are they drinking up there in Canada?
09:56Maybe their own homebrew.
09:58But it would speak to sort of that retaliatory feeling.
10:01I remember, you know, when we were discussing the first round of Canada tariff talks, that
10:06that was definitely a major theme there.
10:08Yeah, it kind of makes sense, right?
10:11If, you know, amid this tariff war and the pushback by the U.S., right, they're going
10:15to fight back with, you know, just buying our stuff.
10:18Yeah.
10:19All right.
10:19Well, some of us will pick up the slack.
10:20Not Tim.
10:24Not Tim.
10:24I was told not to talk.
10:26I was told we're done.
10:28Unlike some other people, I actually listened to Finley, our producer.
10:31That's good of you.
Recommended
10:31
|
Up next
1:57
10:03
1:58
10:13
10:33
4:26
6:37
10:26
10:55
10:24
2:34
3:02
10:15
11:31
10:20
4:30
Be the first to comment