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00:00And right now we are two minutes away from the end of the trading day. Romain Bostic alongside Katie Greifeld
00:05taking her through to that closing bell. It's a global simulcast. Carol Masser and Tim Senevic join us. Welcome to
00:11our audiences across all of our Bloomberg platforms, television, radio, our partnership with YouTube here on a record setting Friday,
00:17a record setting week, Carol Masser, particularly on a week where I think a lot of people were holding their
00:22breath on a lot of levels with the Fed, with Iran.
00:25And of course, with that barrage of earnings that we got so far, it looks like the fog is lifting
00:29for a lot of folks. Yeah, right. Interesting week. I agree with you that we're hitting some records. President on
00:35his way to, you know, when he came out of the White House, stepped onto his helicopter. It was just
00:41interesting. The barrage of headlines, you know, tariffs on EU autos, talking Cuba, talking the war. There's still a lot
00:48of unresolved and volatile issues coming out of Washington. But yet, as you rightly point out, Romain, here we are
00:53sitting at another record.
00:55Yet. Yet. Yet oil prices still this week moved higher, especially WTI, Katie. That was in the last five days
01:03up 8.2 percent when we're looking at, you know, contracts for June of 2026. Same with Brent. That's up
01:123 percent this week. So both of those still above $100 a barrel.
01:15Yeah, it's been interesting to sort of see the equity bulls in the market sort of push all that geopolitical
01:21agita of what we're seeing in oil, that rise that you mentioned, to the side.
01:25It feels like big tech earnings have squarely been in this market's focus. And it's going to be interesting to
01:31see at what point we do return to some of those geopolitical worries,
01:34especially if we see oil sort of behave as it has grown. As we get the closing bells here in
01:40New York, a mixed round here on the tape. But for at least a couple of the major
01:44indices, we are going to get record highs. The Dow Jones Industrial Average sitting this one out down about 150
01:50points or about three tenths of one percent.
01:52The S&P 500 closing at another record high, right around that 70 to 30 mark as we wait for
01:57these numbers to settle. That's going to be higher by about three tenths of a percent on the day.
02:01The Nasdaq Composite up about nine tenths of a percent. The Nasdaq 100 also up a similar amount, both at
02:07record highs.
02:08And the Russell 2000, which hit a record high yesterday, hits another one today of 13 points or a half
02:13of a percentage point.
02:14All right. Let's go on over to the S&P 500, if I may, in terms of the breadth. And
02:21you're looking at, Katie, 177 names to the upside, 326 to the downside.
02:27You wonder what the best performing stock is this week?
02:30Tell me. Tell me.
02:31Centene.
02:33Interesting. An insurer.
02:34Right.
02:35Wow.
02:35There you go.
02:36Romaine, did you know that?
02:37Yes, I did know that.
02:38I didn't hear you pipe in.
02:40Katie, you know, she was, you know, the eager beaker. She blows in first.
02:43Don't you watch Jeopardy? It's all about buzzing in first.
02:45It's totally about the buzzer.
02:46You know, it's my lifelong dream. Can I have an aside here? It's my lifelong dream to be on Jeopardy,
02:50by the way.
02:50I feel like that absolutely tracks. That is not surprising.
02:53I've actually been on the set with Alex Trebek.
02:56Wow.
02:57Did you actually participate in the game?
02:59Well, no, I did.
03:00I did a story on it.
03:01Have you actually, like, applied, tried out for them?
03:03Yes.
03:04And they refused to email me.
03:05Do they know who you are?
03:06I know. I keep telling them that.
03:07Even with that brain?
03:09I know.
03:09Maybe you're just not that good.
03:11Ken Jennings, and I know he watches. Please.
03:13Please, I beg you.
03:14Please, Ken Jennings. That would be such an amazing crossover.
03:17My husband's really good. He's really annoying to sit and watch with.
03:20I have to meet your husband. He sounds like a really cool guy.
03:22He is.
03:23Never.
03:25Never meet him.
03:26I guess there's other stuff.
03:27We have to do the iMac.
03:28Is there other stuff to do?
03:29There is. We have to talk to the circle.
03:31It's so interesting today, because we know that we did finish at these record highs.
03:36And you can really thank big tech for that.
03:38Information technology as a sector, higher by about 1.4%.
03:42You did see consumer discretionary gain a little bit as well, too.
03:46But all you need is tech, because you only had two sectors in the green, nine in the red.
03:51Energy as a sector, down by about 1.3%.
03:54But you think just about the index math here, and tech was enough to really get us back to
04:00those record levels.
04:01All right, guys.
04:01Let's go to some of the individual gainers, if I may.
04:04Let's go on over to Apple, of course, reacting to its earnings late yesterday after the close.
04:10Stock up about 3.3% here, rallying its highest intraday in a few months.
04:14Apple delivered a surprisingly strong revenue forecast for the third quarter.
04:18It did warn about those memory chip costs, but we kind of expected that, or we wanted
04:23some color around that.
04:24They did say that they warned that they will increase, and that shortages of Mac computers
04:28will persist for several months.
04:30Apple has benefited from a series of new products launched back in March.
04:34The MacBook Neo, iPhone 17e, updated iPad Air models, and a fresh MacBook Pro.
04:42That Neo, that $599 Neo, Apple's first major push into kind of a low-cost laptop, has been
04:48particularly popular, remained sold out at several retailers.
04:51So that's kind of cool.
04:52Tim, Oracle, gave me Oracle today, said I needed to look at Oracle.
04:57Here's an Oracle for you.
04:58Here's an Oracle.
04:59Tim is an Oracle for me.
05:00So that stock up about 6.5% in today's session.
05:04Officially agreed to join the list of AI companies working with the Pentagon's classified networks,
05:09according to a post by the Pentagon's Undersecretary for Research and Engineering, putting that
05:14out on X.
05:14I will still never get used to these official declarations from the government that come
05:20out on social media.
05:21But there you have it.
05:23And then I want to mention Paramount Skydance, number two gainer in the S&P 500, up 8.3%
05:28today.
05:29The company is scheduled to reward its first quarter financial results.
05:32That's going to happen after the close on Monday.
05:35And this is as the company continues to move closer to finalizing its merger with Warner Brothers
05:40Discovery.
05:41So there you have it.
05:42Okay, there are some gainers.
05:43I got the stocks in the red today.
05:45I want to start with shares of Roblox.
05:46They fell by 18.3%.
05:48This after the company reported fewer daily users in the first quarter than analysts expected.
05:53This was as a result of safety features that it implemented.
05:57The company also lowered its forecast for full year bookings.
06:01They said that was the result of a, quote, aggressive push to enhance safety and projected
06:05another quarter of user decline.
06:07So once again, Roblox shares falling by more than 18%, the worst day going back to February
06:11of 2024.
06:13Moving on, the worst performer in the S&P 500 on a percentage basis today was none other
06:17than Clorox, down 9.7%.
06:20This was the worst day going back to February of 2022.
06:23The company's organic sales missed consensus expectations for the third quarter.
06:27They cut their annual forecast.
06:31Katie, cat litter, and salad dressing categories performed poorly during the quarter.
06:37Cat litter is why I was thinking of your cat.
06:41Do you guys not use Clorox cat litter?
06:43Speaking of husbands, that is firmly a Joe job.
06:45I haven't touched the litter box in years, but thank you for thinking of me.
06:49Shout out to Joe for handling the litter box.
06:52Okay, finally, let's go aviation.
06:54Got to check in on what shares of Spirit Aviation did on the day today.
06:57Down as much as 70% earlier in the session, fell by more than 25%, though.
07:03This after the company was reported to be making preparations to wind down its liquidity
07:09position as its liquidity position worsens and the prospects of winning a bailout dim.
07:13That's according to people familiar with the matter.
07:15President Trump, though, saying that he delivered a final proposal to rescue the company, but
07:19it would only proceed if it's a good deal for the U.S. government.
07:23All right, let's check in on yields here.
07:25A relatively modest day and, quite frankly, a relatively modest week.
07:29We're going to end the day here right around 4379 on that 10-year yield.
07:35And just remember, about a week ago, we were basically right around 4-3.
07:38So we are elevated on the week here, and that is going to be a big part of the story
07:42going
07:42forward, particularly with the war in Iran still continuing.
07:46The Strait of Hormuz still closed and a lot of big questions about inflation.
07:49So, Romaine, if you were the name of a chat assistant, like, would that bother you?
07:55You know, hey, Romaine, what's the temperature today?
07:57Hey, Romaine, how do I get downtown to a really cool French restaurant?
08:02As you know, Carol, I'm a man of the people.
08:03So when I walk down the street and people ask me what the weather is, hey, are you that
08:07guy?
08:07You know, I stop and talk to them.
08:08They walk by and they say, hey, Romaine, anyway, because they recognize you everywhere you go.
08:13So you would be cool.
08:14Well, for people named Claude, apparently they're not so keen about this.
08:18Many who are named Claude adjusting to sharing their name with that AI assistant called Claude
08:25from Anthropic.
08:26So the popularity of Claude has led to some situations where human Claude's, so these are
08:32not AI Claude's, these are human, real people, they're hearing their names in contexts that
08:38have nothing to do with them, maybe in meetings or conversations about projects.
08:43You're welcome.
08:44This is, what did you say?
08:46Uh, Romaine and I were sharing a TV moment.
08:48Oh, okay.
08:49We sit next to each other.
08:50You do sit there.
08:50You guys are next to each other even though you're in those boxes?
08:53Yeah, no, it's crazy.
08:54It's weird how they do that.
08:55We're not supposed to look at each other.
08:56Yeah, so.
08:58Check out the story that Madison Darbyshire wrote.
09:01You know, you're next to me.
09:03That's very much true.
09:05Human Claude's.
09:06I see you guys started drinking early, huh?
09:07I have mixed reactions to sharing their name with AI.
09:10Check out Madison's story.
09:11It's one of the most read on the Bloomberg Terminal.
09:13A nice story.
09:14It kind of, it reminds me a lot of Alexa, of course, the Amazon assistant when she came
09:18onto the scene.
09:19I think there are more Alexas than Claude's out there.
09:23But, you know, the problems are similar here.
09:26Absolutely.
09:27Go on.
09:28What do you got for us?
09:29That's it.
09:29Go on.
09:30Hey, Claude, do you have a story for us?
09:31Yeah, we can pivot.
09:32We can talk about billionaires banding together here because apparently New York City billionaires
09:38are rallying around Ken Griffin.
09:40We know that he's in a bit of a feud when it comes to Mayor Zoran Mamdani.
09:46And it's just nice to see people coming together here.
09:48So what's the feud?
09:49I'm confused.
09:50I saw it.
09:50So Zoran Mamdani, he did a video.
09:53Yep, on tax day.
09:54Something about taxing, like, pita tears over a certain amount.
09:57And apparently he was outside.
09:59He filmed this outside of the building where Ken Griffin owns a penthouse.
10:02Yeah.
10:03And Ken Griffin did not like that.
10:04No, he didn't like that.
10:05Okay.
10:06And then there were some concerns about, and, you know, Ken Griffin and what Citadel has
10:11done for the city.
10:12They have a big project here.
10:13They're building a new building.
10:16There are some questions about-
10:17They employ a lot of people here, too.
10:18They employ a lot of people.
10:19Okay.
10:19And now there are concerns about what ends up happening if that company decides to leave.
10:25So they're uniting the ultra-mobile.
10:27Uniting.
10:28Around him.
10:29Okay.
10:29It has been hard to track Citadel because they were in Chicago.
10:33Right.
10:33Yeah.
10:33Then I thought they were in Miami.
10:34I thought they were in Miami, too.
10:36But they still have a presence here in New York.
10:37But they still have a presence here.
10:38But they're building here, I thought.
10:39Yeah, they were supposed to build some big tower.
10:40Okay.
10:41Which, last time I checked, they were actually building.
10:43So is he going to stop building that?
10:44We're not going to solve this today.
10:46No.
10:46I was going to tell you.
10:47So I think we have to wrap.
10:48And maybe we'll table until next week.
10:49I have a lot of questions.
10:50We're going to be talking.
10:51Ask Claude.
10:52We're going to be out.
10:53Is this penthouse now free?
10:54Because Katie's looking for a place.
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