00:00And right now we are two minutes away from the end of the trading day.
00:03Romain Bostic here with Katie Greifel taking you through to that closing bell.
00:07It's a global simulcast.
00:08Carol Masser, Tim Senevec, they join us from the radio booth.
00:11Welcome to our audiences across all of our Bloomberg platforms, television, radio,
00:15our partnership with YouTube here on this Monday afternoon.
00:18A mixed day for financial markets with the S&P in the red, the NASDAQ even deeper in the red,
00:23though we are seeing some of those cyclical and economically sensitive sectors,
00:27as evidenced by the Dow and the Russell, Carol Masser, in the green.
00:30Yeah, that's what I was thinking about.
00:32I'm glad you mentioned the Russell.
00:33I mean, it was up as much as 1.2 percent today,
00:36still looking about a nine-tenths of one percentage point gain
00:40as we get ready to wrap up this trade on this Monday.
00:43So, yeah, you just got to kind of look and dig a little bit deeper, right?
00:48And you see some gain, even though the market feels a little blah today.
00:52Well, oil under pressure today, down 2.9 percent for Brent.
00:56WTI, Katie, down about 2 percent, still above $74 a barrel for WTI.
01:01Brent futures, $78 a barrel.
01:04Yes, down from those highs just a few weeks ago,
01:09but still not quite what we were seeing and what the market was seeing before February 28th.
01:15You know what's not blah today is the small caps.
01:18The Russell 2000, you're outperformer higher by about eight-tenths of a percent,
01:22maybe getting some relief from the oil picture, as Tim mentioned.
01:27But we do have rates moving higher, so who knows?
01:30Rates moving higher.
01:31So, too, is the dollar.
01:32And believe it or not, so, too, is the VIX.
01:35So, right around the 17th handle there.
01:37A mixed picture for the cross-asset space and a mixed picture for the benchmark U.S. equity indices.
01:43It looks like the Dow Jones industrial average is going to be out in front on the day,
01:48up about 160-plus points, but it is going to close just a little bit shy of its record high.
01:54The S&P 500 down about four-tenths of a percent on the day.
01:59The NASDAQ composite down 1.3 percent.
02:01The NASDAQ 100 only down about a tenth or two-tenths of a percent on the day.
02:06And you do have green across the screen for Dow Transports, the S&P 400 mid-caps, and the Russell
02:112000.
02:11The Russell 2000 up about eight-tenths of one percent.
02:15All right, guys, back to the S&P 500.
02:18Almost an even split, Katie.
02:20266 names higher on this Monday, 236 lower, and you've got one unchanged.
02:25All right, let's take a look at the sector breakdown.
02:28It was interesting to see more gainers than losers on the individual level.
02:32It was a similar story when you take a look at the circle here.
02:35Health care was your biggest points contributor.
02:38You also saw real estate and energy rally in a big way.
02:41But in terms of what took a chunk out of the benchmark, you can see information technology, a deep red
02:47there in terms of the sector performance.
02:50And communication services, consumer discretionary, certainly didn't help either.
02:54All right, let's get to some of the individual gainers.
02:57Number one in the S&P 500 is Supermicro.
03:00So that stock jumping as much as 20 percent intraday, finishing the day with about a 15.7 percent increase.
03:08We did see intraday the biggest move or the most in more than a month.
03:12This is after GF Securities raised its rating on the server maker to buy from hold.
03:16The analyst there, Evan Lee, sees higher AI server visibility while recent weakness has created, quote, an attractive entry point
03:24as the underlying demand fundamentally strengthens its long-term growth.
03:28Again, those are the analyst's words.
03:30He also orders from SpaceX should accelerate in 2027, said Evan Lee, the analyst there, who has a $48 price
03:38target on the stock.
03:39So that was about a 57 percent increase from Supermicro's closing price on June 18th.
03:44So you can see the stock closing today at $35.46 a share, so still below that $48 a share
03:50price target.
03:51Stock's up more than 20 percent year-to-date, so we have seen some movement in 2026.
03:56All right, this is a name it feels like everybody's talking about today, Getty Images Holdings, ticker is G-E
04:02-T-Y.
04:03That stock, again, of about 90 percent in today's session.
04:06It did soar as much as 145 percent earlier in the session.
04:10This is after the company announced a licensing deal with OpenAI.
04:13Getty said that images from its library will appear in the search and discovery features of ChatGPT, making a key
04:19reversal for the firm specifically.
04:23The companies did not talk about financial terms or disclose any details over whether Getty's images would be used to
04:28train future OpenAI models.
04:31The partnership with OpenAI could improve licensing optics and shift the narrative on the stock.
04:36This is according to one analyst over at Benchmark.
04:39But nonetheless, quite an outperformer in today's session.
04:41And then I hope I'm saying this right.
04:44Apogee Therapeutics, APGE.
04:46So a little bit of deal flow today.
04:47AbbVie agreeing to buy Apogee Therapeutics for $10.9 billion to bolster its anti-inflammatory drug portfolio.
04:56The share price reflecting a roughly 49 percent premium to Apogee's closing price on Thursday.
05:02So, again, we can continue to see, I feel like, deals within the pharmaceutical space, whether it's looking for a
05:07big company looking to kind of fill out its pipeline.
05:10So let's look at some of my gainers today.
05:12All right.
05:12Well, speaking of deals.
05:13Romaine, you're so quiet.
05:15He's focused on what you're saying.
05:18All right.
05:18Okay.
05:19You mean those days when he interrupts me, he's not focused?
05:21No.
05:21Is that what you're saying?
05:22I'm going to jump in with some decliners.
05:25Shares of Alphabet down today by just over 5 percent.
05:29It was the worst performing of the Mag 7.
05:31Actually, the worst day intraday going back to February of this year.
05:34It's a talent war that sparked some of this sell-off, at least.
05:37The company lost a second prominent AI researcher as Google DeepMind Vice President John Jumper said Friday he was leaving
05:43for Anthropic.
05:44If his name sounds familiar, he won the 2024 Nobel Prize in Chemistry for his work on AI.
05:50We also did see last week one of Google's most prominent researchers said he was leaving for rival OpenAI.
05:56SpaceX shares fell for a third day in a row.
05:59The company said it's selling investment-grade bonds for the first time to fund its AI ambitions.
06:05Shares at $154.60.
06:08They fell today by 16.4 percent.
06:10The company looking to raise at least $20 billion from the first bond offering.
06:14That's according to Bloomberg.
06:15We also saw analysts at KeyBank Capital Markets initiate the stock with a recommendation of sector weight, writing that much
06:21of the long-term value is already captured in the stock price.
06:24Once again, SpaceX shares down today by 16.4 percent.
06:28And finally, watching shares of Netflix.
06:30They fell on Monday.
06:32The company extending a sell-off that's taken it to the lowest level in more than a year, down 5
06:36.8 percent today.
06:37At one point, it was the biggest intraday drop going back to April.
06:41The stock trading at its lowest going back to October of 2024.
06:44It's dropped more than 30 percent from a peak back in April.
06:47We did hear from Meta Platforms announcing that it's exploring new formats for its Instagram for TV platform.
06:53Once again, shares of Netflix down 5.8 percent.
06:56And I'm just going to add one honorable mention, and that's Salesforce.
06:59It dropped for a 14th straight day, Tim.
07:01That's its longest losing streak since it went public.
07:04In fact, the entire software space, at least if you go by the IGV ETF out there, have been under
07:10pressure, continues to be under pressure.
07:12And then in the after-hours trade, just a quick note here, Best Buy shares under pressure now after its
07:17CFO is said to be stepping down at the end of next month.
07:20Let's take a quick look at yields.
07:22We did see a bit of a sell-off in the bond market today that pushed yields higher across the
07:26curve, an almost parallel shift there, as you can see on your screen.
07:29For our TV viewers, about five basis points higher on the two-year, the five-year, the 10-year, the
07:3420-year, and the 30-year.
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