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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 the Global Simulcast.
00:08Carol Masser and Tim Stenevich join us in the radio booth.
00:11Welcome to our audiences across all of our Bloomberg platforms, including our partnership with YouTube.
00:16An eye on the markets, an eye on Washington, and an eye around the world today, Carol.
00:20Yeah, absolutely. Something that you guys, I know, have been breaking down.
00:23We, too, as it's crossed the Bloomberg terminal about Hamas saying it has agreed to release
00:26all Israeli hostages, both alive and deceased, a statement responding to the U.S. plan to end
00:32the ongoing conflict in Gaza. We've seen affirming of the shekel. We've seen oil prices certainly
00:38moving off their highs of the session. But, you know, geopolitics have certainly been top of mind
00:43for investors, not just this year, but for the last several years. Hamas, though, also saying that
00:48other parts of the president's 20 point plan, this was released on Monday afternoon ahead of
00:53the comments from Prime Minister Benjamin Netanyahu and President Trump in Washington, D.C.
00:59That plan, quote, require a unified national stance and must be addressed based on relevant
01:03international laws and resolutions. So Hamas agreeing to some of these terms,
01:08slout line in the 20 point plan ahead of this deadline on Sunday.
01:10Well, to that point, Tim, Hamas also added that a peace plan will be discussed within
01:14a comprehensive Palestinian framework here. But it is interesting to get these details coming off
01:20of that news that we got on Monday. That was the big question. What was the response going to be
01:25from Hamas? And at least now we're getting some of these details here. And of course,
01:29the other big story that we are watching outside of Wall Street, but they could have implications,
01:34is the government shutdown in Washington. We just learned a little while ago from Bloomberg
01:38government that the House, House Speaker Mike Johnson, has basically designated next week as a
01:43district work period, which means that representatives will not return to Washington next week.
01:47We are told the Senate Democrats do plan to return. Remember, it's the Senate right now
01:52that would have to vote in that bill. But if they were to pass that bill, you, of course,
01:56you would need the House back here to reconcile some of those issues. So a potential for this
02:00government shutdown to drag on just a little bit longer, at least for right now, the market kind
02:05of shrugging it off. The Nasdaq composite and Nasdaq 100 are going to end the day in the red.
02:09The S&P 500, it's only up, well, less than a point. But as record highs go, as it had a record
02:15high today, green on the screen means record high again today. The Dow Jones Industrial Average also
02:21closing out the day at a record high. And I want to take a look at the Russell 2000, an 18-point gain
02:26on the day, seven-tenths of one percent. The small caps led by a lot of those quantum computing stocks
02:31pushing the Russell 2000 back to a record high. You know, you have those days where you just don't
02:35have enough Bloomberg screens, and we have a lot of them. This is one of those days for me as well.
02:39All right, back to the big caps, S&P 500, folks. Most names actually in the index,
02:45so more of a bullish tone, if you will. 322 names, Katie, higher in the Friday's trade and 179 to
02:52the downside. Similar story to take a look at the sectors here. What was your big winner on the day
02:58actually was health care. We know it's been a phenomenal week for that sector as a whole,
03:02continuing on this Friday. It's exciting to say that tech was actually down today for the last
03:07several days, of course, on the right of your screen. Information technology has been green.
03:12That hasn't been the case today, down about three-tenths of a percent as a sector. But even
03:16still, more winners than losers, and the S&P 500, Carol, just barely finishing in the green.
03:22All right, guys, let's go to some of the individual gainers. U.S. rare earth, ticker USAR,
03:27soaring, hit an all-time high in today's session, 24 percent higher at its best levels of the session,
03:33finishing the close with about a 14 percent gain. This coming after CNBC reported that the company
03:38is in close communications with the Trump administration. When asked whether the company
03:43would be open to a deal with the U.S. government, we know that the government here in the U.S. has
03:47taken stakes in rare earths company, MP Materials, and minor Lithium Americas. The U.S. rare earth CEO,
03:53Barbara Humpton, supporting these government stake deals, according to CNBC. That stock, 130 percent
03:59higher here in 2025. About 11 percent of the float is short. We recently talked to her.
04:04We just spoke to Barbara Humpton.
04:05She was still at Siemens. This was just a little while ago. A week, week and a half ago?
04:09Yeah, she just started this week at the new company.
04:12Yeah, so interesting. We'll have to check in with her again. Reddit rallying at its best levels,
04:17up 6 percent, finishing with a gain of more than 3 percent. Analysts expressing confidence
04:21in the company's revenue. As of Thursday's close, though, the stock has shed about 26 percent
04:26since peaking in mid-September, including a tumble earlier this week due to concerns about a drop in
04:31OpenAI citations. Now, keep in mind, the ALS community, a lot of them coming out, Oppenheimer has an
04:38outperformed rating, and they say, we believe certain third-party data providers indicating reduced
04:43ChatGPT Gemini usage of Reddit data in September is a measurement issue and not reflective of actual
04:50user or LLM behavior. So that was Oppenheimer, but a lot of other analysts, similar messages.
04:57Rumble, thank you, Tim, for this one, up about 16 percent in today's session. The video platform
05:02and cloud services provide a rallying after entering into a strategic partnership with
05:06perplexity to develop a new subscription model, combining the pro features of each platform. I feel
05:12like I'm speaking a foreign language. Stock is down about 35 percent year-to-date. 20 percent of the
05:16float is short. Don't worry. It's a big tam there. Yeah. The ARPU. The ARPU. There we go. I love some
05:22ARPU. All right. Let's get on over to some of the decliners today. I want to start with Palantir. This
05:27was the biggest decliner on a percentage basis in the S&P 500, down 7.5 percent. It actually fell
05:33about 8.7 percent earlier in the session. This following a Reuters report that its battlefield
05:38communication system was seriously flawed. Palantir and Anderil came out with a statement after that
05:44and said the issues in the report were out of date and inaccurate and that the systems had already
05:48been addressed that didn't do much to change the direction of the trade today, at least when it
05:53came to Palantir shares. Reports down 7.5 percent. Palantir stock down 7.5 percent. Also, Roblox shares
06:01down more than 8 percent today. Shares fell the most intraday since August after an analyst at
06:06M Sciences. M Science came out and said that U.S. bookings growth has decelerated sharply from recent highs.
06:13That said, Corey Barrett expects bookings growth to remain, quote, at or near recent highs in non-core
06:19markets, ex-U.S. and Western Europe. And finally, watching shares of casino companies, gaming companies
06:26that have a large presence in Macau. Wynn Resorts, Las Vegas Sands, both falling more than 7 percent
06:32today. Citi says national passenger data from China's travel ministry for the first two days of
06:37Golden Week was weaker than expected. Wynn gets about 51 percent of its revenue from its Macau operations.
06:43Las Vegas Sands gets about 62 percent of its revenue from Macau.
06:48All right, let's take a quick look at yields here. We actually did see yields actually rise today,
06:53second straight day. Of course, this is coming off of what we had seen over the previous days where it
06:58had been in the opposite direction. We should point out on a weekly basis, we're still looking at a
07:01two-year yield lower than where it was one week ago today, 3.573 and change. That's where we stand
07:07right now heading into next week, guys. All right, guys, let's get to some of the interesting stories
07:12on our radar. And we talk, you know, obviously ongoing about inflation and where we still continue
07:16to see pressures. Well, global meat prices extending a rally to a record on tight beef supply. So global
07:22meat prices, as I said, a fresh record in September to the longest run of monthly gains since 2021, Tim.
07:28Yeah, the index tracking meat commodity costs rose seven-tenths of one percent. Meat was the only
07:33main food commodity group tracked to increase in September, also supported by higher sheep meat
07:38prices. Got a few issues facing the U.S. right now. We have a smaller number of cattle, actually.
07:45But also, we import a lot of beef from around the world, specifically from Brazil. But remember
07:50those 40 percent tariffs that the president slapped on Brazil just in the last month or so? That affects
07:57the price of that coming in. No, I see these pictures of cows and it makes me not want to eat.
08:01You know what you can do, though? I mean, if you're having a little trouble affording meat,
08:04you can stretch it out with sauces, guys. I saw the story today that apparently we've just,
08:10the U.S. has been taken over by sauce. The U.S. condiments category is now at $12 billion. That's
08:16a 50 percent jump from where it was just prior to the pandemic. Basically, everyone likes to put
08:21sauce on everything. And by everyone, I mean everyone but me. You don't like its sauce?
08:26I don't like sauce either. I like, you know, just some salt. That's it. Yeah. Salt? Yeah.
08:31Salt, pepper. Keep it simple. It works. It works. I will say, I can't believe that no one said
08:35that there's a bull market in beef right now. I feel like that was a really easy joke. Are you
08:40saying we're stupid? No, I'm just saying it was right there for the taking. We were letting
08:45it, you know, we're letting it go for you. What kind of sauce do you do as Carol Master?
08:50Bernays. Bernays. Okay. I know. I still remember the first time I ever took her at the dinner
08:55and she ordered, what was it? The Ascargo? What was the thing you ordered? It was something
08:59expensive. Snails. I'm still waiting for the first time Romaine takes me out. It was like
09:03snails and champagne. Yeah. Wow. That sounds a lot of fun. Tim, do you eat? I do, yeah. I walk by
09:08your desk every day. Do you want to know what Tim had for lunch today? It was good. It was
09:11this is personal. And tofu. This is personal. Can I just tell you guys? And now you know
09:16why I haven't asked you out. You want to know if he eats? His empty food dish is right here
09:22in the studio. Listen. His food dish? Because you asked, because you asked, I'm more of a hot
09:26sauce person. More of a hot sauce person. You are? Yeah. You know, and the trick is you don't
09:31need to put them in the refrigerator. It actually tastes better if you keep them out of the refrigerator.
09:34I like hot sauce. Yeah. So maybe a little Cholula, Valentina. You guys can go on hot
09:39ones. Yeah. Hot sauce. Oh, that would be fun. That would be fun. I would make it to like
09:43the second wing. That's it. Crying from your eyeballs. Yeah. I absolutely, absolutely would
09:48be. Sweating profusely. Great. Yeah. Here's a pro tip. If you ever go to Southeast Asia and
09:53they ask you if you want it spicy, say no. Say no. You don't need to stop talking because I
09:57learned that the hard way. I'm still waiting for Romaine to take me out to dinner.
10:01Oh, gosh.
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