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00:00And right now we are two minutes away from the end of the trading day.
00:03Romain Bostic here with Isabel Lee, Katie Greifeld on assignment.
00:07We're taking you through to the closing bell here with the Global Simulcast.
00:10Carol Masser and Tim Senevich, well, they pop up there on the screen and on your eardrums.
00:15Welcome to our audiences across all of our Bloomberg platforms,
00:18television, radio, and our partnership with YouTube here.
00:21Carol Masser on this Monday afternoon, Modest Gains for U.S. Equity Markets.
00:25And welcome back to you. We definitely missed you.
00:26You missed a lot. There was a lot going on.
00:28And having said that, what's interesting coming up with really a lot going on.
00:32It seems like a lot of the same.
00:33Well, maybe. But we were bouncing around a little bit.
00:36And I hear where you're coming from.
00:38I mean, has anything really changed in a week?
00:40Maybe, perhaps not, except that this war is going on even longer.
00:43And I kind of feel like coming off that 80-minute press conference,
00:46there is a feeling perhaps in markets that maybe investors weren't buying anything too much
00:51and figure that this could go on for a little bit longer.
00:54Did you listen for the entire 80 minutes?
00:56Not all, but a lot.
00:57Yeah, we did.
00:58We listened to most of it.
00:59Oh, wow.
00:59Yeah.
01:00We had to.
01:00It went into our show.
01:01Yeah, we kind of need to be ready for it.
01:03Okay.
01:03All right.
01:03Yeah, look, the big question is, what happens tomorrow, 8 p.m.?
01:07And what does the president follow through with the latest threat?
01:108 p.m.?
01:11Is it 8 p.m. or midnight?
01:12I'm so confused.
01:13No, 8 p.m. is the deadline.
01:14Yeah.
01:14Yeah, then, you know, at midnight, then the...
01:16Four minutes.
01:17He said, what, four hours to kind of really get rid of everything in Iran.
01:22So, look, I don't know what the equity market is saying.
01:25I know the oil market is still saying that oil is still high.
01:29Yes.
01:29So, is that a bet that the Strait of Hormuz, Romain, is going to open soon?
01:35I don't know.
01:36Sorry, Isabel.
01:37Well, it gets to the idea, too.
01:39I mean, we talk about, at least here, in the interest of serving the financial markets,
01:43the idea of when this actually does, if at all, have a material impact on corporate bottom lines
01:48on the eve, of course, of earnings season and still waiting any sort of economic data
01:52that would even sort of reinforce the idea of sustained inflation and, more importantly,
01:56any sort of sustained drop in economic activity.
01:59At least for today, we're not getting that.
02:01The Dow Jones Industrial Average closing higher by about 165 points or four-tenths of one percent.
02:07Similar gains across the board on a percentage basis with the S&P 500 adding a half a percent,
02:11the NASDAQ Composite adding a half a percent, and the Russell 2000 up on the day by about
02:1711 points or four-tenths of one percent.
02:19All right.
02:19So, some moves there to the upside.
02:21Let's go back to the S&P 500, the big caps.
02:24And, Isabel, you've got about 324 names to the upside for the Monday trade, 176 lower and
02:30three unchanged.
02:31That's a big gain.
02:33We're looking at the IMAP and we're looking at all the 11 sectors, most of them in the
02:36green, just two in the red.
02:37We have the biggest gainers there being technology and consumer staples.
02:40Consumer staples up by four-tenths of one percent.
02:43The biggest losers are health care and energy, which is not really a big surprise.
02:49All right.
02:49A lot of green on the screen.
02:51So, I had a lot to choose from.
02:52So, let's go to it.
02:54CK Technology up about 5.6 percent in today's session.
02:58Western Digital also higher up about three percent.
03:01I bring them two names up.
03:03They were outperformers in both of the major equity averages.
03:07Morgan Stanley raising its price target on Seagate, the computer hardware and storage
03:11company, to 582 a share from 468.
03:15The firm also named Seagate its top pick, seeing long-term tailwinds related to AI.
03:21The analysts there citing signs of sustained hyperscaler demand strength, elongating customer
03:27visibility, firmer pricing into 2027, and an overall improving HDD end market due to AI-related
03:34demand.
03:35They put overweight ratings on both Seagate and Western.
03:39Morgan recommending adding aggressively to them in periods of market-related volatility.
03:44Morgan also lifting its price target on Western Digital to 380 from 369.
03:48So, Seagate up about 5.6 percent.
03:51Western Digital, a gain of more than 3 percent.
03:54All right.
03:54Let's flip it on over to AppLovin.
03:56Another call from Wall Street.
03:57This was, I believe, the number one gator in both the S&P and the NASDAQ 100.
04:01Wells Fargo analysts raising the firm's price target on AppLovin to 560 from 543, a share
04:09stock closed at 412 and change.
04:11So, quite a move to the upside if it hits those targets.
04:14Keeps an overweight rating on the shares.
04:16The firm says checks are improving and buy-side sentiment is negative.
04:20Wells sees a positive setup into the first quarter earnings per share.
04:25Channel checks suggesting that the first quarter IAA industry growth above normal seasonality
04:31AppLovin holding share in meta-platforms.
04:34Progress limited the firm's ads.
04:36A lot of analysts speak there.
04:38But, anyway, outperformance there.
04:39That went up almost 7 percent today.
04:41And one last.
04:42We don't talk about it a lot.
04:44Monolithic Power.
04:45This went up about 5.5 percent in today's session.
04:48Number four gainer in the S&P 500.
04:51Reader interest increasing.
04:52No real fundamental reason.
04:54It's a semiconductor device company.
04:56Power solutions for industrial telecom, auto, cloud, and some more.
04:59Up nearly 30 percent year-to-date.
05:01Just kind of wanted to single it out because there was a lot of momentum there.
05:04So, there you have it.
05:06What?
05:07Are you judging over it?
05:08You know, we didn't miss this last week.
05:11Tim, what do you got?
05:13All right.
05:13I'll jump in here.
05:14How's that?
05:14Let's start with some of the decliners that were notable, at least to me.
05:17Tesla down more than 2 percent.
05:19Interesting note coming out from JP Morgan analyst who said,
05:22Investors should proceed with caution because the EV maker is in danger of weaker performance,
05:27cutting earning estimates for the company.
05:29After those first quarter delivery numbers that we got last week, disappointed investors.
05:34JP Morgan lowering its EPS estimate for the first quarter to 30 cents from 43 cents in its 2026 outlook
05:40to $1.80 from $2.
05:43Also, its 2027 forecast came down as well.
05:46But this is my favorite one of the decliners.
05:49Let's see it.
05:49This is for Isabel.
05:51Invesco.
05:52Look at this.
05:54IVZ.
05:55That was, yeah, that was big news written by Katie Greinfeld.
05:58This is huge news.
05:59Down 5 percent today.
06:00The company is going after the NASDAQ 100.
06:04The Qs.
06:06The iShares NASDAQ 100 ETF, it would trade under the ticker IQQ.
06:10If it does launch, it would become one of just a handful of U.S. listed ETFs to solely track
06:14the NASDAQ 100.
06:15It would be the first one to not be managed by Invesco.
06:19Isabel, why would this, why did this take so long?
06:21Like, why isn't there more competition for QQQ?
06:24I think Invesco had the license for the longest time.
06:28And now I think maybe they trust BlackRock and they said, sure, you can do it.
06:31But I think the big story here is Invesco said they're creating a foundational ETF ecosystem that does not happen
06:38overnight.
06:39And there is only one QQQ.
06:41That's what Invesco said.
06:42And, again, it's written by Katie Greinfeld.
06:44I thought it was a really sassy and good response.
06:47Great.
06:47She's not working, but she's.
06:48I guess she's working.
06:49Working.
06:49She's on assignment.
06:50Here's for Invesco shares down more than 5 percent.
06:53Finally, watching what happened with shares of Oracle today.
06:55Some personnel changes at the company.
06:58Hillary Maxson will be its CFO.
06:59She'll help navigate massive data center development plans and an accompanying cash crunch.
07:05Oracle pouring tens of billions of dollars into building AI infrastructure.
07:09That's required unprecedented financial maneuvering.
07:12It's projected to result the company being free cash flow negative all the way to 2030.
07:16Shares were down much of the day.
07:18Then went, you know, into the grain ever so slightly, but still finishing the day down six-tenths of 1
07:23percent.
07:24All right.
07:24Let's check in on yields and, well, try to stay awake here.
07:28Not a whole lot going on.
07:29We should point out this is still effectively a holiday for a lot of folks here.
07:32We saw that reflected in the low volume in the equity market, even lower volume in the debt markets right
07:37now.
07:37A bit of stasis there.
07:38You can read it on your screen.
07:40Carol.
07:40Oh, wow.
07:41Okay.
07:41Yeah, I got it.
07:42It is pretty quiet.
07:43Here's an interesting story.
07:45In order to live in New York City, families need over $125,000 in income to live in any borough.
07:52So we're talking about six-figure incomes to live without government assistance.
07:56It's interesting to put those two together.
07:59In all five boroughs of New York City, there's two new reports that are out.
08:03One is from the city and then another one, yeah, it's just kind of, I don't know.
08:07They're basically just saying you need a lot of money to live here.
08:09So kind of interesting.
08:11Yeah.
08:12So, I mean, families and children, you mentioned $159,197 to cover the cost of living here.
08:17I don't need to tell everybody about the cost of child care.
08:19Forty-six percent of households are not earning enough to survive without financial assistance.
08:24Sixty-two percent of residents were experiencing economic insecurity in 2022.
08:27So, look, Zoran Mandani, he was elected mayor of the city on a promise of making it more affordable.
08:33He certainly has his work cut out for him.
08:35All right.
08:35We've got to wrap this up soon.
08:37But I do want to end on a little bit of a brighter note and a higher note.
08:40Everyone's focused on, you know, whatever's going on in the Middle East, affordability here in the U.S.
08:45and in New York, but there actually is something that we can rally around, and that's this mission, this Artemis
08:50II mission around the moon, we should say, not necessarily to the moon.
08:54And earlier today, we officially got word here that this is now the first time, I guess, the longest manned
09:01spaceflight that we have ever taken.
09:04It has now surpassed Apollo 13, which had traveled a total of roughly about 250,000 miles or 400,000
09:10kilometers from Earth.
09:11We have now surpassed that, and, of course, a little bit later, in just about, what is it, maybe about
09:16three or four hours Eastern time,
09:19we are actually going to get the closest to the moon since, basically, we set foot on it back, you
09:25know, 50 years ago.
09:27They're talking about naming the two craters.
09:29The first suggestion was integrity, and the second was Carol after the mission commander's late wife.
09:35That's pretty sweet.
09:36No, it's actually after me.
09:38Actually after me.
09:40Did you not hear it?
09:41That is true.
09:42It's Carol, yeah.
09:43Listen, I kind of love this.
09:45Everyone loves it.
09:46Is there a reason why they didn't have a press conference about this at the White House today?
09:50Because there were eggs to roll?
09:54Should I just leave it there?
09:56Yeah, just leave it there.
09:57Yeah, it's kind of one of those days.
09:59Anyway, we wish everybody up in space well, and we'll be monitoring them, and, of course, later on, around 7
10:05p.m. Eastern,
10:06we'll be also focused on them again.
10:09Romaine, it's just so great to have you back.
10:11Imagine bringing the country together over something that we all sort of are into.
10:15Take care.
10:15Dude.
10:15Let's go.
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