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00:00And right now we are two minutes away from the end of the trading day.
00:04Romain Bostic alongside Katie Greifeld here to take you through to that closing bell with the Global Simulcast.
00:09We're joined now by Carol Massa and Tim Stenevich.
00:11Welcome to our audiences across all of our Bloomberg platforms.
00:14That's television, that's radio, and that includes our partnership with YouTube.
00:18And for those folks watching right now, if you are confused as to why Tim and Carol were out of the fishbowl and into a new aquarium,
00:25well, there you have it.
00:26You're getting a little bit of room, Carol Massa, to swim.
00:29A little bit. We're the same people.
00:31You got a new studio? How did you finagle this?
00:33We know important people. What can I tell you?
00:35Apparently. It looks good.
00:36The important thing is it's still us. You're still stuck with us, okay?
00:39Yeah. I'm still going to stumble as I speak.
00:41I feel like the magic of the simulcast was the old fishbowl.
00:44Well, you know what? It's open, so if you'd like to go there.
00:49No, we're going to try and keep the magic that the four of us have because it's certainly something we love to do.
00:54Hey, having said that, nothing really magic, I feel like, in the markets today.
00:59I feel like we're just limping along when it comes, certainly, to the equity trade.
01:03A lot of asset classes out there, but we do have some data coming our way.
01:07Although, as we talked to our Mike McKee earlier, it's not going to necessarily be complete,
01:11so we're not quite sure how it will shape the trade going forward.
01:14A little bit of an incomplete and late data, better than no data, but still kind of weird tomorrow, Katie.
01:19Carol mentioned not much of magic in today's market.
01:22Also, if you look at Bitcoin, that $93,000 didn't hold for very long.
01:26We're getting close to lows for the year if you look at Bitcoin today.
01:30It's brutal out there when you take a look at the cryptosphere, especially over the last year.
01:34As you mentioned, Bitcoin, it could finish up on its lows over the years.
01:38We have just a couple weeks left.
01:41As we get the closing bells here in New York, it is going to be red across the screen
01:45for most of the major indices here in the U.S.
01:47and some key technical levels now being tested to the downside.
01:50You take a look on the far right of your screen, the NASDAQ composite down about 138 points and change,
01:56down about six-tenths of one percent, but more importantly, now firmly below that 50-day moving average.
02:01The S&P is stopping just short of that 50-day moving average,
02:03but still losing about 11 points or about two-tenths of a percent after hitting that record high last week.
02:08The Dow Jones Industrial Average was basically called a flat on the day.
02:11It's down roughly about 41 points or about a tenth of a percent.
02:14And the Russell 2000, that's your main laggard here on the day, lower by 21 points or eight-tenths of one percent.
02:20All right, so though only a little bit lower on the S&P 500.
02:24You did actually have 281 names to the upside on this Monday, and, Katie, about 218 names losing ground.
02:30All right, let's take a look at the sector level.
02:32It's interesting.
02:32Even though it was a down day at the index level, you had more green than red when it comes to the sector level.
02:38Healthcare having a great day, utilities, consumer discretionary also enjoying in that rally.
02:43In terms of what didn't do well, and this is the important part, information technology off by about one percent.
02:49Broadcom still nursing losses, and that was a big weight on the index overall, Carol.
02:54All right, so let's get to some of the individual gainers.
02:57Courtesy of my co-host, Tim, I'm doing Tesla, which is the top gainer in both the NASDAQ 100 and S&P 500.
03:04Maybe it's something about December, because at one point rallying today that if it had closed, it would have been its first all-time high close for the stock this year.
03:14But it did not make it, but still up about three and a half percent in today's session.
03:18So we'll keep a watch, see what we have.
03:21We still have a few.
03:22What about?
03:23Are you yawning?
03:24No.
03:25No.
03:26I wasn't.
03:27He was yawning.
03:28Anyway, we could see an all-time high for Tesla for the first time this year.
03:33I'm just wondering, you only have three gainers today.
03:36I know.
03:36Well, what could I tell you?
03:37What is it?
03:37I don't know.
03:38Okay.
03:38Sand of the year.
03:39A little mellow.
03:40Yeah, exactly.
03:41Mellow Monday.
03:41Hey, let's go to KLA Corp.
03:44It is up 2.6%.
03:45It was up as much as 5% in today's session, finishing with a 2.6% gain.
03:50Upgraded to buy from hold at Jefferies, which sees AI tailwinds for the semiconductor capital
03:54equipment company into 2026.
03:57This is Blaine Curtis over at Jefferies.
04:01He actually likes a bunch of chip companies.
04:03I just want to throw them out there because I think KLA was really the only one that rallied
04:07in today's session.
04:09He also likes Broadcom, NVIDIA, and KLA.
04:12He said they are among his best chip stock ideas for 2026, but KLA Corp actually outperforming
04:19today.
04:19Sorry.
04:20Did you say KLA one more time?
04:21No, I know.
04:23What stock was that about?
04:24It's nice to know new studio, but like some things never change.
04:27I was going to say, your shot actually looks great, Carol.
04:30That's amazing.
04:30You know, you don't have that camera up your nose.
04:32You fled enough people with white light and it gets better.
04:36I like it.
04:38Caverna Therapeutics, for something a little bit different, it is a small cap, so don't
04:42judge me.
04:42Ticker is KYTX.
04:44This went up 23% in today's session, about $490 million market cap.
04:48Um, shares soaring after the company said it's phase two trial of its drug for stiff
04:53person syndrome, uh, achieved statistically significant clinical benefits across all primary
04:58and secondary endpoints.
04:59The stock is up about 200% year to date.
05:01So yeah, it's a small cap, but I just thought it was interesting.
05:04Okay.
05:04Let's go to some of the decliners.
05:05The worst performer in the S&P 500 today, ServiceNow down 11 and a half percent.
05:10This after Bloomberg News reported that the company's in advanced talks to buy Armus, a
05:14cybersecurity startup, a deal that could be valued as much as $7 billion.
05:18That deal could be announced in the coming days.
05:20This, according to people familiar with the situation, discussions, though, may still fall
05:24apart or another potential bidder may emerge.
05:26ServiceNow down 11 and a half percent today.
05:29And then we saw real estate stocks take a hit today.
05:32Zillow Group and CoStar fell.
05:34CoStar owns homes.com.
05:36This says Google tested a new real estate advertising form and that could rival Zillow's
05:41services.
05:42Google putting for sale listings directly into search results and the functionality includes
05:47full property detail pages, as well as links to request a tour and contact an agent.
05:52This is according to a report from global real estate tech strategist, Mike DelPrette.
05:57CoStar shares fell 6.6%.
05:59Zillow shares fell 8.5%.
06:02The future appears to be a test.
06:03It's only live in a limited number of markets and right now only on mobile.
06:08And finally, how about a bankruptcy?
06:10Luminar Technologies, LAZR is the ticker, taking a hit today, down more than 60%.
06:15This after the company filed for Chapter 11 bankruptcy protection, agreed to sell its
06:20Luminar semiconductors to subsidiary to Quantum Computing Inc.
06:24for $110 million cash subject to higher offers.
06:28The company entered bankruptcy with support from 91% of the first lien note holders.
06:31Luminar will use $25 million in cash on hand to fund operations during the sale process.
06:36The share's taking a hit today, down more than 60%.
06:39Let's take a quick look at yields here.
06:40Not a whole lot of activity.
06:42About one basis point lower on the short end of the curve.
06:45A slight uptick on the long end of the curve.
06:47A bit of a holding pattern as we await the next data points coming out of the government,
06:51including that monthly job support, which will now be tomorrow on Tuesday.
06:57Tuesday, Jobs Day.
06:58Isn't that kind of weird?
06:58It doesn't even feel right, but we'll take it.
07:01We'll take it.
07:02Let's get to some stories on our radar.
07:04Rest in peace, Roomba maker, iRobot.
07:07The company filing for bankruptcy.
07:08It's going to go private.
07:10I mean...
07:10Yeah, it's not rest in peace.
07:11It's still around.
07:12Well...
07:13It's just not going to be public.
07:14Yeah.
07:14Did you read the great profile, the New York Times, the inventor of this, Rodney Brooks?
07:18No.
07:19Yeah, it was great.
07:19It was over the weekend and kind of, they call him the godfather of modern robotics.
07:23And it was more about the idea of how far robotics has come and the idea that there are so many
07:28limitations.
07:29But, of course, it's against the backdrop of the company that you just mentioned, Carol,
07:32that he founded are now going bankrupt and going private.
07:36How would things have been different had Amazon been allowed to actually make this
07:40acquisition back in 2022?
07:42A lot different.
07:43Yeah.
07:43I do believe most of the analysts on Wall Street here.
07:46And, yeah, I mean, there was a lot of concern.
07:48I mean, all seriousness, that Amazon, when they bought it, there was a lot of optimism.
07:50But then there was a lot of criticism in the years after that, saying they just didn't
07:54really, you know, there was no, you know, there was no follow through, right?
07:57I mean, you couldn't get the deal done.
07:58No one was there to save them.
07:59And, you know, they didn't have a lot of investment coming from their parent.
08:03Yeah.
08:04Super sad.
08:04Super sad.
08:05We do have some headlines crossing on Ford.
08:08You can still buy one, Carol Master.
08:09Do you want to do the headlines on Ford?
08:10I'm just letting you know.
08:11Do you want to do the headlines on Ford?
08:12Yeah, we should.
08:13Breaking news on Ford.
08:14Basically, a $20 billion charge being taken by the company.
08:17$19.5 billion to be specific, according to Bloomberg reporting.
08:22An overhaul of the company's EV strategy.
08:25This is a sweeping overhaul, we should say, with regards to the money and the attention
08:30that it had put into those new EV models, like the F-Series, like the Ford Mach-E.
08:35Apparently, a bit of a rollback in that strategy.
08:37A refocus now on hybrids and, of course, gas vehicles.
08:40All of it leading to a $19.5 billion in charges for saying that in a statement.
08:48Just fascinating to see how, you know, the traditional big three automakers have been
08:52handling their EV efforts, trying to catch up with Tesla in a way here.
08:56You can see that Ford shares moving a little bit higher after hours, up about 2% right now.
09:00I will point out that 2025 has been pretty kind to Ford, higher by about 48% on a total
09:07return basis so far this year, and certainly extending that right now.
09:11We're going to hear from Ford CEO Jim Farley just a little later this hour in an interview
09:15on Bloomberg TV.
09:16We'll bring that to you live across all of our platforms when it does happen.
09:19And maybe just a little tease ahead of that.
09:21In this story, Jim Farley saying in a statement, the operating reality has changed and we are
09:26redeploying capital into higher return growth opportunities.
09:29So we'll look forward to that conversation Matt's going to have with Jim Farley.
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