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00:00And right now we are two minutes away from the end of the trading day.
00:03Romain Bostic alongside Katie Greifeld taking you through to that closing bell.
00:07It's a global simulcast.
00:08Carol Masser and Tim Senevich joins us right now.
00:11Welcome to our audiences across all of our Bloomberg platforms, television, radio,
00:15our partnership with YouTube as we parse the most crucial moments of the day.
00:19Tim, you missed a lot last week, but don't worry.
00:22We've erased all of that here today with stocks down deep into the red.
00:25Well, what did you say when you came back?
00:27We're talking about the straight of Hormuz and oil again.
00:30Okay.
00:31Yeah, time is a flat circle.
00:34I don't think you're wrong about that, Katie.
00:36Yeah.
00:36Look, this was supposed to be, and, you know, higher oil prices were supposed to be in the
00:40rearview mirror, and I'm kind of jumping on what you're going to be talking about, Carol.
00:44But we have Brent up more than 9% today.
00:46We have WTI up 8.8% today.
00:49I thought higher oil prices, I thought we were past that.
00:52Yeah, we're not past that, you know, and I think any given day, investors look through
00:56it, and sometimes they do.
00:57I'm starting to think about, though, what we will be focusing on, especially as we get
01:01that big drop of earnings tomorrow.
01:03Five big banks reporting their results.
01:06So that commentary, Katie, will be so important about kind of the health of the economy, the
01:10health of lending, the health of the consumer.
01:12Yeah, really an embarrassment of riches when it comes to potential catalysts this week.
01:16You know, you mentioned big banks kicking us off early tomorrow morning.
01:19Then we have CPI.
01:20We're also going to hear from Kevin Warsh himself and Fed Governor Christopher Waller.
01:26I mean, I feel like he really, through inflation and the possibility that this Fed is going to
01:31hike rates firmly back into the conversation when he said focus on core CPI.
01:35Absolutely.
01:36And quite frankly, I mean, you don't even need to focus on the core.
01:39You can put all the oil and gas back in there, given the big bump up that we saw today
01:44and
01:44what looks like a still heavily unresolved issue when it comes to Iran and the Strait of Hormuz.
01:50Right across the screen here on this Monday afternoon, modest losses for the Dow Jones
01:54industrial average, losing roughly about 138 points or a quarter of a percent.
01:58The S&P down about 60 points or eight-tenths of one percent.
02:02The Nasdaq Composite and the Nasdaq 100 taking it the hardest.
02:05The Nasdaq Composite down about 1.6 percent.
02:08The Nasdaq 100 down about 1.9, while the Russell 2000 losing roughly 25 points or eight-tenths of one
02:15percent.
02:15All right, back to the S&P 500.
02:17I go a little bit of an even split, 273 names actually gaining ground on this Monday, 230 to
02:25the downside, and then we've got Tim, zero and change.
02:29Yeah, did you see what happened to the Sox today?
02:31Yes.
02:32Yeah.
02:32Got doubled.
02:33But you know what?
02:35Still up.
02:36Katie, more than 65 percent this year.
02:39Yeah.
02:40But all 30 members of the Sox down then.
02:41The whole Sox fell 4.8 percent.
02:43It was an ugly day for those chips, but as you mentioned, I mean, coming off some pretty
02:47incredible gains.
02:48Let's take a look at the sector performance today as measured by the circle because, boy,
02:53what a fantastic day for energy.
02:55You can see that small slice in bright green, that is energy, that sector higher by about
03:003.2 percent.
03:02But the reason why we saw such a big decline is information technology on the other side
03:07of that, that sector down about 2 percent.
03:10So clearly, that is the big weight that dragged indexes down.
03:13But also a good day when it came to utilities, financials, consumer staples.
03:16And then on the downside, in addition to technology, you also had communication services and industrials
03:22fall today, Carol.
03:23All right, guys.
03:24Let's go to some of the individual gainers.
03:26And I've got to talk about Paramount Skydance and Warner Brothers Discovery because you did
03:30see Paramount Skydance up as much as 4 percent in today's session, finishing the day with
03:36a gain of about 1.5 percent.
03:38Warner Brothers Discovery was up as much as just about 4 percent.
03:42But it, too, finished the day with a gain of about 1.9 percent, so off its highs.
03:46But nonetheless, you know the story.
03:47We've all been talking about a group of 12 states suing Paramount Skydance, seeking to
03:51block its bid to buy Warner Brothers Discovery.
03:53They allege the deal would leave viewers with higher prices and fewer choices for movies
03:57and TV.
03:59So, yeah, this is going back and forth.
04:01We did get a statement, too, from Paramount.
04:05Pretty broad in general from what our Jennifer Rhee, who covers antitrust at our Bloomberg
04:12Intelligence team.
04:13But nonetheless, back and forth again, and so there's going to be some litigation, or we'll
04:18see whether or not these guys settle.
04:19But nonetheless, we did see investors coming back into these names.
04:22And I feel like the theme, I have a theme of, like, deals, deals that are happening or
04:27some snafus.
04:28I want to go to Mattel and Hasbro.
04:30Mattel shut up to more than 7 percent intraday, finishing with a gain of 3.8 percent.
04:36Hasbro was up almost 3 percent at its intraday high, finishing with a 7 tens of a percent
04:42gain.
04:43And what we saw that UBS came out in a note today, said the investment case in Mattel
04:48is not just about toys, but its portfolio brand equity that is worth far more than the
04:52market currently attributes to the company.
04:55It says it owns one of the most concentrated portfolios of evergreen, multi-generational
04:59family, entertainment, intellectual property.
05:01They maintain their buy rating and a $28 price target.
05:05But also, late on Friday, early investments John Rogers said as a panelist for Barron's
05:11mid-year roundtable that he recommended buying Mattel in last year's mid-year roundtable
05:16and recommending it again, saying, activist investors are now involved with Southeastern
05:21Asset Management, having sent the company an open letter in May urging them to explore
05:25a possible sale to Hasbro.
05:27So he's basically saying, given the current regulatory environment, this would be the time to put
05:33these two great companies together.
05:35And one more, not a household name, ticker is FERG, Ferguson Enterprise, up 2.5%.
05:41The company rose after the products and solutions provider for areas including plumbing, HVAC,
05:47and appliances agreed to acquire FWI holdings from Windchurch Capital.
05:52And so the thinking from some of the community that weighed in, the analysts, is that it may
05:55be basically kind of expands their market share.
05:58So a lot of deal flow we're finding.
06:00A lot of focus, too, on chips, as I mentioned, and the SOX falling more than 4% today.
06:05I do want to talk about SK Hynix ADRs down 9.3% today.
06:11Shares of SK Hynix plunged a record 15% in South Korea.
06:15We saw the cost speed index down 9%.
06:17It triggered a market-wide trading suspension.
06:19So wanted to highlight this new ADR here in the U.S. down 9.3%.
06:25Kenview Sheriff's also under pressure today, down 1.3%.
06:29A federal appeals court reviving lawsuits claiming that Kenview hit alleged risks that Tylenol could
06:34cause autism in children whose mothers took the medication while pregnant.
06:38The decision allows the case to proceed.
06:40The plaintiff's attorney says that it's a vindication for scientific evidence presented.
06:44Kenview emphasized that the ruling didn't address the underlying facts of the case.
06:48Kenview down 1.3%.
06:50And this was among the worst performers in the S&P 500.
06:53I'm talking about the ad tech company, Applovin.
06:57Shares fell 12.7% today, Romain.
07:00Bank of America cited data that said that the company's e-commerce footprint is expanding
07:04at a slower-than-expected pace following making this new platform available to everyone that
07:09it released a few months ago, sort of the soft launch.
07:12But now it's available to everyone.
07:14And according to Bank of America, the rollout's going a little slower.
07:16Shares down 12.7% today.
07:18All right, a quick look at yields higher across the curve, particularly on the shorter end
07:22with that six-basis point jump on the two-year yield, pushing it back to the highest levels
07:27going back to 2025.
07:29They were already elevated coming into this session, but some of the hawkish commentary
07:33we heard a little bit earlier from Fed Governor Christopher Waller, certainly not helping when
07:37it comes to the sell-off that we saw when it comes to Treasury prices.
07:41All right, guys, too, some stories on our radar.
07:43And I don't know if you saw it, but it sounds like it's going to get hotter as the week
07:46moves
07:47on, a story that caught our attention by our Samantha Kelly about this Dyson portable fan.
07:52I don't even, I haven't seen it.
07:53The Hushjet Mini cool portable fan.
07:56It's about $100.
07:57But it's being hard to kind of get a hold of since, I guess, it has become in high demand
08:03because of all the high temperatures that are out there.
08:04I've actually never seen this thing either.
08:06I've never seen it.
08:07But apparently everybody wants to buy these.
08:10The company says consumer reception has been incredible.
08:12As you said, Carol, the Hushjet Mini cool has a strong airflow, several speed settings.
08:17It's got trade-offs, including being heavier than expected.
08:20Not as quiet as people supposed to be.
08:22Yeah, these things aren't quiet, but I see them everywhere, particularly.
08:24Yeah, and they're not quiet.
08:26I mean, you definitely hear them.
08:26But isn't it?
08:27It's like a data center home.
08:29Oh, gosh.
08:30I haven't seen them either.
08:31It's called Hushjet, though.
08:32Well, that can be misleading.
08:34It's wishful thinking.
08:35I feel like I've seen a lot of knockoffs, potentially, of this.
08:38I mean, it's just a fan.
08:39And I feel like, you know, you walk around, especially on strollers, and you see a lot
08:44of these handheld fans.
08:45Oh, yeah.
08:45You should get one.
08:46Well, now I'm going to know what to get, Katie, for her shower here.
08:49If you can find one.
08:49Yeah.
08:50Yeah.
08:50All right.
08:50I don't need the Hushjet.
08:52It's all right.
08:53Another story I was keeping an eye on.
08:54I know you're a big sports fan.
08:55And Tim Senevic, I don't know where you were.
08:57But the Seattle Seahawks finally have agreed to a sale.
09:01There's been a lot of speculation as to who would actually get it as the estate of Paul
09:04Allen was seeking to unload it.
09:06And they did for $9.6 billion.
09:08And it goes to, of course, Vinay Khosla, who is the former founder of Sun Microsystems,
09:13and probably more known for all the venture capital stuff that he's been doing since the
09:1780s, including being an early investor in DoorDash and Instacart and a bunch of other
09:20big companies like that, which gave him the billions to buy this company.
09:24Yeah, absolutely.
09:25I mean, you think about what we're talking about here, this deal valued at $9.6 billion.
09:30I can't admit or I can't pretend that I know much about football, but I definitely know
09:35the Seattle Seahawks.
09:36What do you know more about?
09:37They're in Seattle.
09:38American football or European football?
09:39Oh, definitely American football.
09:40I have no idea what's going on.
09:42Where have you been, Tim?
09:43Where was I?
09:44Yeah, we missed you.
09:44I was watching the World Cup, obviously.
09:46Oh, OK.
09:47Yeah, big sports guy.
09:48Were you in Seattle?
09:48And in fact, they don't call it the Seahawks Stadium.
09:51I know.
09:51They just call it Seattle.
09:53Seattle.
09:54It's like New York and Jersey Stadium.
09:56Los Angeles Stadium.
09:57Yeah.
09:57You can't buy branding like that.
09:58It's very confusing.
09:59Yeah.
10:00I thought Khosla was a California guy.
10:04He's got his allegiance in.
10:05It's West Coast, you know.
10:06It's on the same coast.
10:07You know, Tim, there's only so many teams that come up with a sale.
10:09Look at this guy, Debbie Downer.
10:10Where's your $9.6 billion to buy this thing?
10:13You're a California guy.
10:15Yeah, I am.
10:16And you didn't bid?
10:17Well, you and I were going to go in on it, but.
10:19Yeah, they rejected our.
10:20They did.
10:21Our measly bid of $1,600.
10:23You might be able to buy one of those fans if you could find it, but I don't know.
10:26Yeah.
10:26I'll get one for you too, Carol.
10:28All right.
10:28No, you won't.
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