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.
00:08Carol Masser and Tim Stenevich join us right now.
00:10Welcome to our audiences across Bloomberg Television, Bloomberg Radio, our partnership with YouTube,
00:15here on a huge turnaround in financial markets with all of the major indices basically up at a minimum by 2% on the day.
00:23Yeah, I've been thinking about you because I'm looking at the Russell 2000.
00:26It's actually up 3.7.
00:28You're always thinking of me, aren't you, Carol?
00:29Well, you know, it depends on the day.
00:31It's not always good, though.
00:32I do like you.
00:33I do like you.
00:333.7% higher on the Russell 2000 and this average easily outpacing those other major equity averages for the week overall.
00:41So you can see where investors are really kind of moving on this Friday.
00:45And on the S&P 500, a day like today where we see the S&P up more than 2%, it's actually its best day going back to May of last year.
00:54So that was sort of a post, you know, quote, unquote, Liberation Day rally.
00:58That's the kind of magnitude we're talking about today, Katie.
01:00I'm surprised you didn't want to bring up Bitcoin, Tim, because, man, what a bounce back.
01:05I was saving it for you.
01:06I appreciate that.
01:07Up 11% on the day.
01:09Of course, we were down 13% yesterday.
01:11But what's super fun about crypto, as you know well, is it's open all weekend.
01:16So we're going to get some really interesting trading in that low liquidity two days.
01:22Yeah, kind of interesting that he didn't bring that up considering he hosts an hour-long show.
01:25So we just we just had a great conversation with Stacey Maria Ishmael about it.
01:29So, you know.
01:30All right.
01:30Well, we talk about this idea here, whether this is truly a risk on back on, if you will, here.
01:35Obviously, Bitcoin back up to that 70,000 level, but still seeing a bid into gold, silver and some of the things that traditionally would be sort of interpreted as being a bit more defensive in posture.
01:46Nevertheless, we get the closing bells here in New York.
01:48And it does look like a pretty big turnaround from where we were over the last few days.
01:52The Dow Jones Industrial Average trading above 50,000 for the first time in history, adding 1,200 points or about 2.5%.
01:59That's going to be good enough for a record high.
02:01The S&P 500 up more than 130 points or 2% on the day.
02:05The Nasdaq Composite up about 2.2% on the day.
02:08And when you look at the small and mid-cap space, I just want to go through this.
02:12Dow Transports closing at a record high.
02:14S&P 400 mid-caps up 3% at a record high.
02:17And the Russell 2000, Carol, adding 3.6% here on the day.
02:21Yeah.
02:21Mega outperformance when it comes to those small cap names.
02:24I'm going to go, though, back to the S&P 500 because you really saw some broad-based buying by the time we wrapped up on this Friday.
02:31The S&P 500, Katie, 400 names gaining ground on this Friday.
02:35102 to the downside, one unchanged.
02:37Yeah, let's take a look at the circle, which shows us what the sectors did on the day.
02:42And, man, information technology is bright green, higher by 4% somehow, which is truly amazing.
02:50Industrials, financials also having a good day.
02:52In terms of what didn't perform, consumer discretionary down by about 7 cents of a percent.
02:57Communication services was your biggest loser on the day, off by about 1.5%.
03:02A lot of those losses came from Alphabet, which finished this Friday about 2.5% lower.
03:07All right, let me get to some of the individual gainers.
03:09There was a lot to choose from.
03:11I'm going to start with Robinhood, number one gainer in the S&P 500, everybody, finishing the day just shy of a 14% gain.
03:18Of course, closely tied to the crypto market as you can buy crypto on the platform, so shares surging, as we saw.
03:23Kind of anything to do with the crypto trade really bouncing back today.
03:27And I should point, and this is even late yesterday after the close, Robinhood, their market price target was cut to $130 a share from $155 by Truist Securities, still bullish on the fintech company despite the weaker cryptocurrency market backdrop.
03:43I wonder if he doesn't like that call.
03:45I don't know.
03:45But anyway, he made that call, and we did see Robinhood certainly an outperformer in today's session.
03:50Let's go on over to strategy, really some outperformance there as well.
03:55That company up pretty much closing at its highs of the session, up 26%.
04:01The Bitcoin Treasury Company reported a $12.4 billion fourth quarter net loss, driven by that decline that we've seen in the crypto prices.
04:10Analysts do expect the company can withstand further downturn due to its cash reserves, so that was good.
04:14And so, again, that crypto trade impacting this one.
04:17Michael Saylor also of the company saying that the margin calls are no margin calls, I should say, on the company, so some optimism there.
04:25And then thank you, Tim, for this one.
04:27Under Armour, UA is the ticker, finishing two at its highs of the session, up more than 19%.
04:32The stock is up about 50% year to date, 20%, though, of the float is short.
04:37The company surprised investors with a quarterly profit, revenue also slightly above the consensus estimate,
04:42and management boosted its adjusted EPS estimate, so some outperformance.
04:46There's a lot I could have done.
04:47So, Romain, do not add to the list.
04:49Hey, pop quiz.
04:50What was the best-performing large-cap stock this week?
04:54Oh, my God.
04:55Lumentum, light, up 41% here, of course, off the back of those earnings that it had the other day.
05:01Nice.
05:02But not adding, just adding context.
05:04Because you know what, Carol Masser?
05:05What?
05:06Context changes everything.
05:07It totally does.
05:08Totally does.
05:09I'm always saying that.
05:09How about some decliners for some context on stocks that move the other way?
05:15Look, we've got to start with Amazon, down 5.6% today.
05:19This after the company now plans to spend $200 billion this year on data centers, chips, and other equipment.
05:25Andy Jassy is bullish.
05:26He says it's going to go toward the company's AWS.
05:29Most of that spending will be for AI workloads.
05:32Shares fell earlier by as much as 10%, but paired those losses to close down by 5.6%.
05:38The worst performer on a percentage basis in the S&P 500, Molina Healthcare.
05:44Shares just crumbled today.
05:47This after the company forecast 2026 profit.
05:49That was less than half of what Wall Street expected.
05:51This due to higher medical costs, insufficient government repayments.
05:55Lost more than a quarter of its market cap today.
05:58It's pulling out of the federal government's Medicare Advantage Part D program for 2027.
06:02It expects its Obamacare enrollment and total premium revenue to drop by more than 50% this year.
06:08And finally, Stellantis, the worst day ever for this company.
06:14Shares fell by 24%.
06:15The company's CEO, Antonia Filoso.
06:18Can you tell people what Stellantis is?
06:20Because this is probably one of the worst rebranding exercises.
06:22The maker of Jeep, Chrysler, everyone knows, but Stellantis, go ahead.
06:29Yeah.
06:29So Stellantis, it's...
06:31That's my BBO column for that.
06:32Okay.
06:33I always think praying mantis.
06:34I think it's like a bug.
06:35Okay.
06:36Whatever you guys need to remember it, but it's been a public company since going back to 2014.
06:42And it's having the same problem that some of the other large auto manufacturers have had when it comes to EVs.
06:5022.2 billion euros in charges, much of where linked to unwinding Carlos Tavares' bets on EVs that were destined to be unprofitable.
06:59Carlos Tavares has been out of the company for more than a year, and they're still working to unwind some of those bets.
07:06Once again, Stellantis, the maker of Jeep, Chrysler, and more, falling by close to 24%.
07:12And I'll just add, too.
07:13I just want to point out, software stocks did rebound on the day, but still down for a fourth straight week.
07:17All of the big names here are still sliding on a weekly basis, including Oracle and the like.
07:22Let's take a quick look here at what's been going on in the debt markets.
07:24We saw yields actually rise on the day up about four basis points on the shorter end of the curve, a little bit less on the longer end of the curve.
07:33But we should point out, on a weekly basis, it was still to the downside all across the curve, in fact, a relatively parallel move down here.
07:41So keep an eye on that.
07:42That's going to be a big part of the story, particularly as we get into next month and some of the freshen up economic data.
07:48Just making sure you guys have your long johns for the weekend, because it's going to be...
07:51My long johns?
07:52Yeah, just in case.
07:52Is it going to be cold?
07:53Yeah, like five degrees tomorrow, the low.
07:56I feel like we're used to that.
07:57You know, we're acclimated.
07:58It's been frozen for so long.
08:01Where are we?
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