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00:00And right now, we are two minutes away from the end of the trading day.
00:03Romain Vostick here with Katie Greifeld, taking you through to that closing bell with a global simulcast.
00:08Carol Masser and Tim Stenevich join us here on this Monday afternoon.
00:12Welcome to our audiences across all of our Bloomberg platforms, television, radio,
00:15our partnership with YouTube on what's setting up to be, yet again, Carol Masser,
00:20another record-setting day for U.S. equities.
00:22Kind of amazing because it just has felt a little bit of a blah day for the most part.
00:27I keep thinking about all that's coming at investors, the Fed decision, other central banks,
00:32global central banks having decisions this week.
00:34And then you have, what, five of the MAG7 reporting.
00:36But you're right, eking out another record.
00:39So there you have it.
00:40Yeah, notable that I think we're still seeing oil higher and equities are kind of shrugging that off, Katie.
00:46Brent up another 2.6%, $108 a barrel.
00:50WTI $96 a barrel, up another 2% today.
00:53Yeah, absolutely.
00:54It does feel like equity bulls have learned to live with these higher oil levels that we're seeing,
00:59much more content to sort of focus on the fundamentals of what's going on in corporate America,
01:05what's going on with the MAG7.
01:07I will say it's going to be interesting to hear from the Federal Reserve.
01:10There's a lot of palace intrigue right now when it comes to whether or not Jerome Powell, will he stay,
01:16will he go?
01:16But then you remember, of course, that we've seen a big bond market sell-off since the start of March
01:22that has not reversed.
01:23Absolutely. And, of course, that sell-off continues today.
01:25And the big question right now is how much is the Fed and all those other central bankers going to
01:30have to start having meaningful discussions
01:32about that inflation shock because of the war in Iran.
01:35Maybe it's too early for some to actually make a change in policy.
01:38But that debate certainly has to be had.
01:41As for right now, there is no debate.
01:43The S&P 500, a modest gain on the day, up about nine points as we wait for these numbers
01:48to settle.
01:49But one way or another, up about a tenth of a percent.
01:52At 71.71 and change, that is going to be a record high.
01:56The Nasdaq Composite also closing out the day at a record high, up about two-tenths of a percent on
02:01the day.
02:01The Dow Jones Industrial Average sitting this one out, down about a tenth of a percent.
02:05And the Russell 2000, which had actually spent the majority of the session in the red, now just poking into
02:10the green, up only one point on the day.
02:13But, hey, a gain is a gain, Carol Massey.
02:15It is indeed.
02:16Well said, well said.
02:18Back to the S&P 500.
02:19I go 227 names, Katie, in that index.
02:23Higher for the Monday session, 274 to the downside, two unchanged.
02:27Pretty narrow rally when you take a look at the sector level on the S&P 500.
02:30Just three sectors finishing in the green, but as you can see, they're the important ones.
02:36Big tech rallying by about half a percent.
02:39Communication services higher by nine-tenths of a percent.
02:42Financials, too, having a good day.
02:44When you take a look at the downside, the biggest loser was consumer staples as a sector, down about 1
02:50.2 percent.
02:51Real estate, consumer discretionary, and health care.
02:54Some of your biggest losers as well, Carol.
02:56All right, let's go to the individual gainers, if I may.
02:58And I want to go to SanDisk and Micron, because SanDisk, number one gainer in both the S&P and
03:04the NASDAQ 100.
03:06And then you had Micron, number two gainer in the NASDAQ 100, number three in the S&P 500.
03:12These were just some outperformance there.
03:14You can see SanDisk up about 8 percent, 5.6 percent higher on Micron.
03:18Both of those names are being started with buy ratings over at Mellius Research,
03:23which sees strong long-term tailwinds for the companies due to AI.
03:26The firm has a two-year price target of $1,350.
03:30For SanDisk, that's not closing at $1,070.
03:34And then for Micron, he has a target of $700.
03:38That's not closing today at $524 and change.
03:41So certainly some room to run.
03:43His take, here's what he writes.
03:46Ben writes us.
03:47He says,
03:47It is time to acknowledge memory is core to our AI coverage, fitting well with AI semis, AI hardware, and
03:53hyperscalers.
03:54So some outperformance there.
03:56This one I did for Tim and Romaine, although they don't really need it yet.
04:01But let's take a look.
04:03Oh, that's funny.
04:04What is this?
04:05Main is the ticker.
04:06That's funny.
04:07Stock was up as much as 50% in today.
04:09This is funny, though, Ben.
04:10Finishing up about 47%.
04:12Don't take it so personally.
04:14I didn't know she was going to do this.
04:14I love this.
04:15Now a $3.4 billion market cap drug developer.
04:18Every day, I'd just like to point out, every man in America, when you're taking a shower, you get out,
04:22you look in the mirror,
04:24tilt your head down just a little bit, and you say, okay, it's still there.
04:27It's still there.
04:28Well, and for those not, this might be some good news.
04:32This company has an experimental oral therapy for male pattern hair loss.
04:38And apparently, it met all the primary and key secondary endpoints.
04:42So some good news for all of you men out there.
04:45When can we get that sped through the regulatory process?
04:49You got a great head of hair.
04:50For now.
04:51Real quickly, let's go over to REMAX, ticker RMAX.
04:55Finley, thank you, because I sent you the wrong ticker earlier.
04:58But you can see, this went up about 24%.
05:00Real brokerage, buying REMAX holdings in a deal valued at $13.80 a share.
05:06Latest example of consolidation in the U.S. real estate brokerage company.
05:10Deal will create a brokerage with 180,000 real estate agents, including more than 100,000 in the United States
05:15and Canada,
05:16according to a statement they put out.
05:18It will combine Upstart Real, founded back in 2014 as a tech-powered brokerage
05:22with one of the real estate brokerage industry's traditional stalwarts.
05:26And you've seen some stuff going on in this industry.
05:29Tech-powered.
05:30Yeah.
05:30Is there anything that's not tech-powered these days?
05:32You know, we're all just tech-powered, in case you didn't know.
05:35Well, speaking of tech, a good segue to get to some of my decliners.
05:38I want to start with Chairs of Apple, which, yes, reports earnings after the bell on Thursday.
05:42We will have that instant insight and analysis and those numbers, of course, here in the closing bell.
05:48Well, shares today fell by 1.3 percent, this on a day when TF International Securities Analyst Ming-Chi Kuo
05:54suggested that Qualcomm is working with OpenAI on a smartphone.
06:00The report says mass production is expected in 2028, although specifications and suppliers are expected to be finalized by late
06:062026,
06:07or the fourth quarter of 2027, according to the analyst.
06:12Also watching Chairs of Walt Disney, at one point in the day, they were up as much as 1.2
06:16percent.
06:17They fell as much as half a percent today.
06:19They closed down two-tenths of one percent.
06:22This after President Trump called on ABC.
06:24You can see that happened just before the 2 o'clock hour there when shares fell.
06:29To fire late-night host Jimmy Kimmel after what he called a, quote, despicable call to violence on an April
06:3423rd broadcast.
06:35Kimmel's comments have dragged Disney back into the culture wars that it sought to avoid with the company's shares slipping
06:41immediately after the president's remarks.
06:43We have seen this movie before, and it was less than a year ago, but Disney shares fell by two
06:49-tenths of one percent.
06:51And finally, pizza.
06:53Domino's Pizza.
06:54Yum, yum.
06:55Shares fell today by 8.8 percent.
06:57They were pretty much there throughout the day today.
06:59Falling to the lowest in close to three years, the company revised its full-year outlook.
07:03It reported a first-quarter comp sales mix.
07:06Domino's said it's, quote, committed to deliver three percent same-store sales in the U.S. in 2026, supported by
07:12the launch of new menu items.
07:13And the company approved a billion-dollar share buyback program.
07:16Shares down 8.8 percent today.
07:18All right, let's check in on yields, the sell-off that we've seen in benchmark treasuries.
07:21That continued today after a bit of a pause on Friday.
07:25That pushed yields higher pretty much across the curve.
07:28If you take a look at your 10-year yield right now, 4, 3, 3, 2, 5, and change, they're
07:32up about three basis points.
07:34Your two-year yield, most sensitive to any sort of change in Fed policy, at 3.795.
07:41All right, everybody.
07:42As if the skies in the New York metro weren't crowded enough, get ready for it to become even more
07:47crowded.
07:47Joby Aviation, I think you guys, I know we've talked to them a lot, planning to fly electric air taxis
07:53between JFK International Airport and Manhattan to show off its quieter, zero-emission aircraft.
07:59It's all part of a new federal program to accelerate the integration of air taxis into U.S. airspace.
08:05Tim with Joby aiming to start passenger flights in New York, Texas, and Florida as soon as the second half
08:10of this year.
08:11That's coming up.
08:12Are you ready?
08:13I am ready to see them.
08:15Cool.
08:16I don't know if I'd get in one yet.
08:18They are designed, though, to be safer and quieter than helicopters.
08:21Apparently, the sound is 100 times quieter and more of a whoosh that we're told blends into the background.
08:27A whoosh?
08:28A whoosh, yeah.
08:28More of a broadband noise, I think it was described as.
08:32I'm not sure if...
08:32A broadband from, like, AOL years ago?
08:34I didn't quite catch the reference that was being put down, but I do like the sound of being quieter
08:40than a helicopter because, boy, I live in Hoboken, as I feel like we've discussed, and it gets noisy.
08:46I don't know if you get that over in Jersey City, Carol, but it's a busy place, those guys.
08:51You hear it sometimes really early in the morning.
08:53Sometimes you look up and you see it's Romaine on his way to the office.
08:57Yeah, right?
08:57Romaine.
08:57He doesn't even stop and pick you up, Katie.
08:59No, no, no.
09:01This is why you don't buy a house on the flight path.
09:03What do you guys think?
09:04Everywhere is the flight path here, friend.
09:05Oh.
09:06Yeah.
09:07Well...
09:07Not to brag, but it's pretty quiet in my neighborhood.
09:10You know, it's quiet on the path train, too, especially as you get under the river.
09:13But in any case, it'll be interesting to see, Joby Aviation, how these air taxis works, but...
09:19Can we come back to the ground, Katie?
09:21Yes, please.
09:22Yeah.
09:22I'm not sure if you guys saw, but the London Marathon, an amazing event.
09:26You had three men break two hours for the marathon, which was amazing.
09:33That's the first time that's happened, right?
09:34In, like, a competitive race?
09:35Yes, exactly.
09:36And to have two men go under in the same race is amazing.
09:39But then you consider they were wearing the same type of shoe, which certainly was a factor.
09:45I love this.
09:46Adizero, Adios, Pro Evo 3.
09:47And, of course, all these companies, Adidas, Nike, Puma, they all want the bragging rights.
09:53They want to have their guy or a person at the victory stand and, of course, one to break the
09:59world record.
09:59Look at this, though.
10:00Yeah.
10:00I mean, that's iconic there.
10:02Yeah.
10:02That's pretty cool.
10:03Now, do you wear these, Katie?
10:04Because you're a runner.
10:04I don't, but apparently they debuted last week.
10:08Oh, last week.
10:08I think they're a cool $500, which, I mean, if you can shave...
10:13Oh, I missed that nugget.
10:14Okay.
10:14I mean, I'm sure there's a lot of runners that are doing the calculus there that, you
10:18know, $500 to shave however many minutes off my marathon time, a lot of them would take
10:24that price hit.
10:25Is that how much, like, elite running shoes cost?
10:28I'm out of the loop here.
10:29It's pretty steep.
10:30There's somebody who, all my sneakers I buy on sale.
10:33What's the Joby flight cost?
10:34I don't know.
10:35I don't know.
10:36Hopefully.
10:36Can that do it?
10:37Can that do the London Marathon?
10:38I mean, if you have these shoes, you know, you can run so fast, you don't need to take
10:41a helicopter or an air taxi.
10:43Just run there, right?
10:43Yeah, exactly.
10:45I love it.
10:453.42 ounces.
10:47That sounds kind of light.
10:48And they're not even Gucci.
10:49Yeah.
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