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00:00All right, we're about two minutes away from the end of the trading day.
00:03Katie Greifeld and David Gurra in for Romain Bostic.
00:06And here to help take us through the closing bell, it's a global simulcast.
00:10We're joined now by Carol Masser and Tim Stenevich.
00:12We bring together all of our different audiences across all of our different platforms, Carol.
00:18And what an interesting day it has been in this market, the S&P 500 all over the place,
00:23but certainly looks like we're going to finish in the green.
00:25Yeah, we're looking at, what, six months of gains, back-to-back gains.
00:28We haven't seen this in a few years.
00:30So the trend certainly has been a positive one.
00:33You know, coming off, go back to April, right, when the tariffs were announced
00:36and we saw kind of havoc in the financial markets, stocks selling off,
00:41we have had quite a bounce back since then.
00:43Yeah, if you look at the NASDAQ 100, it's even a better picture.
00:46Seven-month surge, could be the longest in eight years.
00:49Big tech, we're seeing it today with Amazon and other companies helping propel the index higher.
00:55Yeah, absolutely.
00:56And the story we've been talking about here over the course of the day,
00:58so much of the Amazon earnings that we got.
01:01You know, great outperformance here in terms of cloud computing and its Amazon Web Services.
01:05Continues to be an AI story here, even amid the anxiety that we've seen here about how this story is progressing.
01:10And a lot of investors saying, we have to see some proof in the pudding sometime soon.
01:13Yeah, it's interesting to see Amazon get that trade back on track because we know we ran into quite a lot of pain
01:19after we got some of the big tech earnings earlier in the week.
01:22I think about Meta, for example, a lot of anxiety.
01:25Once again, it feels like this comes around every couple of quarters about that ROI
01:29and just how much some of these companies are spending, Carol.
01:33Yeah, Meta got some pain.
01:34Some others did.
01:35But for Alphabet, it was like, OK, go ahead and spend.
01:38We're OK with that one.
01:39Yeah, I guess it depends what type of company you are and what you're actually spending it on.
01:44Maybe for Meta, it's not quite as clear as it is for an Alphabet.
01:47But in any case, we're just seconds away from the market being officially closed for the week and for the month.
01:53The S&P 500 going to finish about three-tenths of a percent higher.
01:57We're taking a look at a level above 6,800 on your S&P.
02:01The Nasdaq also participating up six-tenths of a percent.
02:04We still have the Dow Jones up there.
02:06You know, it doesn't really tell you much these days, but it also finished higher.
02:09Then you take a look at the small caps, the Russell 2000, also higher by about half a percent.
02:15You're such a Dow hater.
02:16I know, but it's a price-weighted index.
02:18What did the Dow ever do to you?
02:19It doesn't make sense, Carol.
02:20I know.
02:21I hear you.
02:22I hear you.
02:22Hey, listen, the S&P 500 for the month of October, folks, up 2.3 percent.
02:26Nasdaq 100, again, up 4.8 percent.
02:29And this on a day, David, where we are seeing kind of an even split in the S&P 500, 260 names to the upside, 239 to the downside.
02:37Yeah, you're right.
02:38It's roughly half and half.
02:38You're looking at consumer discretionary up about four percent.
02:40Energy about six-tenths of a percent.
02:42You know, we talk so much about tech and information technology.
02:45I'm struck here just looking at the IMAP function here on the terminal.
02:48Information technology down, actually, about three-tenths of a percent.
02:51All right.
02:52So let's go to kind of a mixture of red and green there.
02:54So let's go to some of the individual gainers.
02:56I had to talk about Amazon, your top gainer or among your top gainers, certainly in the major indices today, finishing the day off its best levels, but still a gain of about 9.6 percent.
03:06Just quickly, you know who they are, e-commerce, cloud computing, one of the largest market cap companies out there.
03:13They did report third-quarter results that beat expectations with its Amazon Web Services business especially strong, and it also gave a positive forecast.
03:21Lots and lots of Wall Street analysts raising their price targets on the stock.
03:26I do think this is also maybe a record close on this day.
03:30We certainly did see a record intraday, and it looks like a record close also for Amazon on this Friday.
03:35Over to Netflix we go.
03:38That stock up about 2.7 percent in today's session, rallying.
03:42It announced a 10-for-1 stock split.
03:43That was after the close yesterday.
03:45Also, Netflix said to be actively exploring a bid for Warner Brothers studio and streaming businesses.
03:51This came out from Reuters, citing people with knowledge of the matter.
03:54Remember, though, Bloomberg News also has reported earlier that Netflix and both Comcast are weighing bids for parts of the company.
04:02So, company at play.
04:04But Netflix was higher, 2.7 percent, and Warner Brothers as that target, up another 3.8 percent in today's session.
04:11And then I just wanted to throw, for solar, that's your number one gainer in the S&P 500 on this Friday.
04:16A gain of about 14 percent.
04:18Third-quarter earnings per share beat estimates.
04:19Analysts viewing the company's full-year narrowed guidance as better than feared given the regulatory backdrop.
04:26We know the pushback that we've seen from the administration on solar and other alt-energy.
04:30Several analysts also raising its price target, Tim, on the stock on this Friday.
04:34Well, first, solar may be the best performer in the S&P 500 today.
04:38The worst performer, that goes to Dexcom, down 14.6 percent.
04:43This, after the company cut its adjusted gross margin forecast for the full year.
04:47There were some analysts, though, who came out and said that 2026 growth outlook, I was a little cautious.
04:52They view it as conservative.
04:53And several firms saying they're going to use the weakness as a buying opportunity.
04:56And I think many would argue there was quite a bit of weakness today.
05:00Speaking of weakness, the worst day ever for new old brands, down 28 percent today.
05:06This is the parent company of Graco, Rubbermaid, Yankee Candle, Elmer's Glue, Sharpie, and more.
05:13The company cut its normalized earnings per share forecast for the full year reported third-quarter results that were below consensus.
05:18It's now trading at levels last seen in 2009.
05:23The company said it raised prices in response to tariffs, but competitors, they did not do the same.
05:27And that hurt its position in the market.
05:30And finally, more superlatives for Luminar technology, ticker Laser, L-A-Z-R, the worst day ever for the company.
05:38Shares fell by more than 45 percent.
05:41It's now trading at its lowest level ever.
05:42It's a record low for the company.
05:44The automotive tech company makes LiDAR sensors and more.
05:47Raised a going concern warning.
05:49It says it received a subpoena from the SEC for documents in connection with an investigation it's conducting to determine if there has been a violation of federal securities laws.
05:57The company is exploring strategic alternatives, including a sale, once again, shares down more than 45 percent.
06:02Yeah, total wipeout in Laser.
06:04Let's get to the good stuff and go to the bond market.
06:06We've been talking about AI, of course.
06:08We had those magnificent seven earnings.
06:10But remember, we had a Fed decision this week.
06:13We had a Fed meeting in which the Fed chair said that a December hike is, or a rate cut, rather, in December.
06:19It's no sure thing.
06:20And that really has had an interesting impact on the bond market.
06:23Today, though, pretty quiet.
06:25The 10-year Treasury yield, I'm going to go ahead and call that unchanged.
06:28We're still well above 4 percent.
06:30We did briefly get below that earlier in the past week or so.
06:34But overall, pretty quiet when it comes to the bond market, Carol.
06:37All right.
06:38Let's get to, well, first of all, I've just got to say, David Gurra, are you trying to, like, cause some problems?
06:42Do you want him to do the gainers?
06:43Yeah, I thought maybe mix it up a little bit.
06:45Next time I fill in, if I'm invited back, I think that happens.
06:48People say, how come you never get to do the gainers?
06:51And I say, I do them when Carol's gone.
06:53Well, David Gurra causing a ruckus in this chat.
06:56Also calling out Tim Stanovic for submitting his decliners late.
06:59That's the normal thing, David.
07:01I'm kind of a deadline driven person.
07:02I'm getting out of here on air.
07:04Well, you know.
07:05Causing problems, causing problems.
07:06All right.
07:06Let's get to some stories that are on our radar.
07:09A lot of it has to do with Halloween.
07:11It is Halloween.
07:11Happy Halloween, everybody.
07:12This one caught Tim and my attention.
07:15It comes from our Business Week daily newsletter.
07:18And it has to do with an old bank that's downtown.
07:20It's been vacant.
07:21It played a pretty big role in the 1920s in terms of the excesses and then carelessness.
07:30It's the National City Bank of New York.
07:32And now a lot of folks are going there to celebrate Halloween.
07:36Okay, there's a spooky teller.
07:37This is Tim in your costume, right, Tim?
07:39That's Carol.
07:40Oh, sorry.
07:41Ouch!
07:42All right, you get gainers next time.
07:45There's an undead cop who wanders the hall.
07:47The experience is decidedly hair-raising.
07:50There are killer clowns lurking in the vault.
07:52That was a killer clown.
07:52Yeah.
07:53Oh, that was the killer clown clown.
07:54I think so.
07:55I don't know.
07:55This seems pretty cool.
07:56This is like very Bloomberg, right?
07:57It's Halloween meets finance meets, you know, a little bit of banking history.
08:01Boy, Tim, do I have a story for you.
08:03Okay, I'm waiting.
08:04The story that we are bringing to the table is about Halloween, but also AI.
08:08Apparently, there's a haunted house owner, a real estate developer.
08:11His name is Derek Strine.
08:13He wants to turn the nearly 130-acre grounds of the former Pennhurst Asylum into a world-class data center.
08:20So, as I understand it, it is a haunted house currently, but look at all that land, that square footage.
08:26Why not turn that into a data center?
08:28They're very hot right now.
08:30Just fascinating, this story.
08:32120 people worked there on the holidays.
08:34It's like a successful haunted house, yet not successful enough, it seems.
08:38He's already spent, I think, millions of dollars, Katie, kind of lining it up to get more electricity,
08:43make it into the data center that he hopes it is.
08:46You know, I guess, make it more useful year-round?
08:49I don't know.
08:50I feel sad about it.
08:50Oh, it is a seasonal business, I suppose.
08:53We'll have to check in with him this time next Halloween.
08:56Does anybody hear a bubble bust?
08:58Well, I mean, is there anything more emblematic of our times than transitions such as this?
09:03Yeah.
09:03I don't know if they can get the power.
09:04It's a real sign of the times.
09:05I know he's trying to get the electricity up and running, but if he can get the power,
09:08why not?
09:09130 acres.
09:10I mean, that's a lot of haunted house to get through.
09:11That is a lot.
09:12Well, I don't know.
09:13Maybe it's restricted just to the main asylum complex.
09:16A lot of questions.
09:17Kind of crazy.
09:17Kind of crazy.
09:18Get them on the show.
09:18Really important before we go, costumes, Katie?
09:21I'm going to be a cat.
09:22I actually have some cat ears over there, but I am not allowed to wear them on air, as you
09:26might imagine.
09:27That's a shame.
09:28David?
09:28I have no costume, but I have three children.
09:30I'll be squiring around the neighborhood tonight.
09:32Maybe I'll see Tim.
09:33Bye.
09:33Brooklyn pads?
09:34Yeah, I think you probably will.
09:35Yeah.
09:36I'll be about 45 minutes behind you.
09:37But what's your costume, Tim?
09:39Oh, no costume either.
09:40Okay, very cool.
09:41Yeah, we're holding the kids' hands and we're going trick-or-treating.
09:42Carol, help me out.
09:43What's your costume?
09:44He's going as an anchorman.
09:45No costume either.
09:46Oh, my God.
09:47Come on.
09:48Katie, we're grown-ups.
09:49I guess.
09:51I'm going home to pizza and wine, kids.
09:53That's what I'm doing.
09:53That sounds pretty good.
09:55All right, that's a wrap.
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