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00:00And right now we are two minutes away from the end of the trading day.
00:04Romain Bostic alongside Katie Greifel taking you through to that closing bell.
00:07It's a global simulcast.
00:09Carol Masler joins us from the radio studio.
00:11Emily Grafeo in today for Tim Stenevic.
00:13Welcome to our audiences across all of our Bloomberg platforms, television and radio,
00:17our partnership with YouTube here on a Monday afternoon where we continue to see stocks push
00:22higher led by what else?
00:24A lot of those big chip names, Carol.
00:26Yeah, right.
00:26The semiconductor index, the stocks once again plowing ahead.
00:31It's going to be an interesting week.
00:32We've got SK Hynix bringing its U.S. issue and U.S. listing.
00:36That's supposed to happen on Friday.
00:38You've got Samsung, which is certainly a player in the semiconductor space, and that's reporting
00:43earnings later today overnight in Asia.
00:46So we'll see what that says about, Emily, kind of the semi-continued demand and build-out.
00:53Yeah, it was a speculative risk on day in the markets.
00:56And you can see in what's lagging, the Russell 2000 on the screen right now, only up 0.5%
01:02lagging behind those more risk on names like the S&P and the NASDAQ.
01:06Yeah, absolutely.
01:07And it's going to be interesting to see, you know, the trajectory of this week, how some
01:11of these trades develop.
01:12Of course, we're watching SK Hynix, that U.S. listing.
01:15Also keeping an eye out for preliminary earnings coming from Samsung.
01:19We know that memory chips have been sort of the story in this market and those Samsung
01:25earnings, I believe, coming on Thursday, Romain.
01:27Yeah, absolutely.
01:28And we talk about this idea of these big chip makers in Korea really kind of being pushed
01:34by the South Korean government to expand their manufacturing capacity.
01:38Ostensibly, that apparently is what SK Hynix is going to use some of this money for.
01:42But, of course, a lot of folks didn't say, OK, well, if you start to expand the capacity
01:46at some point, that means that this super cycle might actually come to an end.
01:50No end in sight, at least for today, though, with the Philadelphia Semiconductor Index up
01:55about two percentage points on the day.
01:57The Dow Jones Industrial Average up about three-tenths of a percent on the day, above
02:0253,000.
02:03That is a record high.
02:04The S&P 500, just short of its record high, up about 55 points or seven-tenths of a percent.
02:10The NASDAQ Composite and the NASDAQ 100, each adding about a percent on the day.
02:14And the Russell 2000 higher by about a half a percentage point.
02:17All right, back to the S&P 500.
02:19I go looking at those big caps.
02:21And, guys, not quite an even split, but close.
02:24Yes, 221 names, Katie, actually gaining in the S&P 500 today.
02:28280 to the downside, two unchanged.
02:30And certainly, it was much more dramatic to the downside a little bit earlier in the session.
02:34So, evening out as the day went on.
02:37Let's talk about the circle, what we saw at the sector level.
02:40Big tech was your big winner on the day.
02:43You can see that.
02:44That is the Russell 2000, but we will get the IMAP up.
02:47Information technology higher by about 1.3 percent.
02:50We know it was a big day for Broadcom, for Apple.
02:53Communication services higher by 1.7 percent.
02:57That's the good news.
02:58In terms of what didn't perform on this Monday, the dawn of a new week.
03:02Health care down more than 1 percent as a sector.
03:04Consumer staples and utilities also getting hit today.
03:07All right, guys, let's go to some of the individual gainers, if I may.
03:11And I'm going to go back to something that Romain mentioned earlier.
03:16Semiconductors, once again, leading the way.
03:18The SOX, Philadelphia Stock Exchange Semiconductor Index, at its highs intraday, up almost 5 percent.
03:24Finishing the day, though, with a gain of about 2.2 percent.
03:29And then you've got a couple of things going on.
03:31First of all, in terms of the semi area, memory chip maker SK Hynix.
03:35Katie mentioned it.
03:36I mentioned it.
03:37Getting ready for that U.S. listing.
03:39Kicking off the formal marketing process for that listing.
03:42ADR is expected to trade this Friday.
03:43It would be just a massive listing, but once again, a reminder of kind of the demand that we are
03:50seeing in the memory space.
03:52So you've got that going on.
03:54You also have Broadcom jumping today.
03:57AVGO is the ticker there.
03:59And that name was a top gainer.
04:01It was up about 3.7 percent in today's session.
04:04That, after expanding its partnership with Apple, you also have, as Katie mentioned, Samsung Electronics.
04:10Those results coming out also this week.
04:13So that is something that we're watching for the semi space.
04:16And then I just want to go to AMD.
04:17That, too, was a gainer in today's session.
04:20And that one was up about, at its highs, up more than 10 percent.
04:24Finishing with a gain of about 6.6 percent.
04:26Goldman raising the firm's price target on AMD to $640 a share from $450, keeping a buy rating on AMD.
04:35Stock is up 164 percent year to date.
04:38And we saw this certainly being a top gainer.
04:40And then I just want to go to what everybody's seeing right now up on the board.
04:43And that is Tesla.
04:46Some outperformance.
04:47Top in the MAG 7 today, up 6.7 percent.
04:51Last Thursday, we heard their vehicle sales beating Wall Street's modest expectations by a wide margin,
04:56gaining in a slower-growing global market for plug-in cars.
04:59Yet, you know, Tesla's been under some pressure, no doubt.
05:03But it's seen a run in the past week up about 11 percent, you know, so we've seen a little
05:08bit of a bounce back.
05:09And the MAG 7, I just want to mention, because six of the seven names led by Tesla, up, Emily,
05:14about 1.9 percent today.
05:16All right.
05:16There's the gainers.
05:17Let's go to the decliners.
05:18O'Reilly Automotive is my first, down about 7 percent today.
05:23This is after declines to end last week.
05:27This is, of course, after last week's report that the firm has expressed interest in acquiring genuine parts, auto parts
05:33segment.
05:34But the shareholders, perhaps not too happy about that potential M&A news.
05:38I'm also watching shares of AMC down 9 percent to finish the day, or down about 8 percent to finish
05:44the day.
05:45This is part of a broader movie theater stock sell-off today.
05:50Analysts are chalking it up to a weak opening for Minions and Monsters.
05:55Analysts saying that there's franchise fatigue for the Despicable Me series after its seventh film debuted just two years after
06:03its sixth.
06:04I got to say, maybe this is a sign that Hollywood needs to come up with new concepts, new movies,
06:09and not just continue with the same story.
06:12So anyway, we saw shares of AMC down about 8 percent.
06:15And then finally, J.B. Hunt falling after Morgan Stanley cut to sell after the stock's rally.
06:21The stock up over 40 percent year to date, falling about 3 percent today.
06:25Morgan Stanley said that the stock's valuation is unjustifiable after a rally and that the carriers will benefit from an
06:32upturn in the freight transportation sector with later and smaller gains than the markets expect.
06:39So again, they had an equal weight rating on the stock, and now they cut the freight company to underweight.
06:45All right.
06:45Quick check on yield.
06:47It's a relatively subdued day when it comes to Treasuries.
06:49You did see a bit of buying in the space on the day.
06:52That pushed yields a little bit lower.
06:54The short end down about three basis points.
06:56As you can see, the long end of the curve, not as much buying here.
06:59But don't read too much into that volume, I should say, in the Treasury trading today, relatively light.
07:06All right, everybody.
07:07I bet if you go out for drinks with your friends and you say, did you do a prenup when
07:11you got married, you might find an increasing number of people saying, yes, I did it.
07:14What kind of friends do you have?
07:16You know.
07:17Fun ones.
07:18Rich friends.
07:18Where were you last week, by the way?
07:20I only took one day off.
07:22It was too much for Romaine.
07:24But you missed me.
07:24It was.
07:25Yeah.
07:26Kind of.
07:26Were you on your yacht?
07:28I might have been.
07:29No.
07:29She was discussing prenups over martinis.
07:32That's exactly.
07:33So what's interesting is you don't have to be rich to do it.
07:35I mean, people are increasingly, first of all, they're getting married a little bit older, but they're kind of protecting
07:41an array of things, including inheritances, student debt.
07:45I mean, it's kind of branching out.
07:46Right.
07:46It's not just net worth anymore.
07:48And can I protect my net worth?
07:50In our latest Bloomberg article on prenups, apparently others are focusing on prohibiting disparaging social media posts.
07:59So in that prenup, you say, hey, if we have to cut this off, you can't post anything bad about
08:05me on social media.
08:06And then also determine.
08:07Hide those pictures, honey.
08:08Is that what that's about?
08:09I guess so.
08:10Determining what happens to frozen embryos after a divorce.
08:13That's also on the prenup table now.
08:15So kind of more modern, more modern take on a prenup than what we have.
08:20You know what I had on my prenup?
08:21What did you have?
08:22She could only say great things about me.
08:25There you go.
08:26And she signed it?
08:27She did.
08:28With enthusiasm.
08:28Have her call us, okay?
08:30Yeah, that and my record collection.
08:31When I heard that we were talking about prenups in the chat today, I thought this was going to be
08:36another Travis, Kelsey, Taylor Swift conversation.
08:38Would love to look at that prenup, but I don't think we're going to get our eyes on that.
08:43Let's shake it off.
08:44All right, what do you guys got for us?
08:45No, I mean, look, where everyone's focused in on the big match later tonight between Belgium and the U.S.,
08:51which has, I guess, taken on a little bit more significance given all of the controversy, of course, about the
08:57red card being made and then the suspension around it being, I guess, pulled.
09:03And so now, of course, the star player for the U.S. will be, we're told, on the pitch.
09:09And FIFA saying, you know, all of this, you know, hand-wringing over whether they should have done it or
09:13not.
09:14Now, pish-posh.
09:15Apparently, your president, Carol Masser, intervened in all this.
09:18He did.
09:18I mean, surprise, politics, getting into sports or the president intervening.
09:22Listen, if you think about how much FIFA has been at the White House or the Oval Office, I'm not
09:26kind of surprised that it got involved.
09:28I have to say that.
09:29But I don't understand.
09:30I mean, so they rigged the Cabo Verde game.
09:33They rigged, of course, that first Brazil game.
09:36They rigged the Norway game.
09:37They rigged the Senegal game.
09:39This is all allegedly.
09:40So now they're rigging the Belgium-U.S. game as well?
09:43I mean, what am I supposed to think about this?
09:45Romaine's views are not necessarily our views.
09:47I mean, am I supposed to be, like, enjoying this right now?
09:49I don't know.
09:50Romaine, I'm going to miss you tomorrow.
09:52Yeah.
09:52Oh, it's FIFA's lawyer on the phone for you.
09:55Okay.
09:55All right, guys.
09:56That is a wrap.
09:57But, yeah, let's take this offline.
09:59Maybe they can rate this show.
10:01We always win.
10:02We always win.
10:03We always win.
10:03We always win.
10:04We always win.
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