00:00And right now we are two minutes away from the end of the trading day.
00:03Romain Bostic alongside Isabel Lee taking you through to that closing bell.
00:07It's a global simulcast.
00:08We're joined now by Lisa Mateo and Alexis Christophorus.
00:11In today for Tim Stenevich and Carol Masser.
00:13Welcome to our audiences across all of our Bloomberg platforms, television, radio,
00:17our partnership with YouTube on a Thursday afternoon with all of the major indices high into the green.
00:24Yeah, we're looking into the green right now.
00:25If we look at the S&P 500 index, Generac up there, 19 percent.
00:29These are the most in the S&P 500.
00:32On the downside, Lumentum holdings are down, oh gosh, nearly 3 percent right now.
00:37Yeah, you know what I was noticing today, guys?
00:39Oil pulling back big time today and crypto related stocks actually were able to rally back
00:46despite the fact that the Clarity Act sort of died in Congress.
00:50It did sort of die and you saw crypto linked stocks there really react negatively.
00:54But elsewhere, we also have the Bank of England to Romain's point.
00:57It's a big central bank week.
00:58We have the Bank of Japan overnight or tomorrow, depending on where you are in the world.
01:02So really, a lot of data points to digest for the markets from here on out.
01:06Yeah, some of the uncertainty, of course, heading into yesterday's rate decision.
01:09That uncertainty, at least for the moment, has been removed.
01:12We got the quarter point hike.
01:13Oil prices down for a second day.
01:15Yield slightly lower as well.
01:17The question is, is this the start of a trend line that the markets can count on or does it
01:21shift?
01:21Don't forget, Lisa, I mean, we're going to get earnings season starting back up in just a few weeks.
01:25And we're going to have to hear from these CEOs.
01:26And we're already getting warnings out of some of them.
01:28Yeah, we definitely are getting warnings.
01:30What I wanted to get to right now is get to some of those gainers, the gainers like Intel, INTC.
01:36Yeah.
01:37Well, hang on just one second before we get there.
01:38We got the closing bell.
01:39You know, the market's not closed yet, Lisa.
01:41Oh, I'm sorry.
01:42You're getting ahead of myself.
01:43My gosh.
01:44Anything could have happened in those last 20 seconds.
01:46I'm excited, Romain.
01:46Well, thankfully for Lisa, it looks like the gains have held in these final few seconds, adding about 300 points
01:52or so to the Dow Jones Industrial Average.
01:54That's good for a gain of about six-tenths of one percent.
01:57The S&P 500 going to close out the day right around 76, 37 and change up about 86 points
02:03to 1.2 percent.
02:04The Nasdaq Composite up about 1.7 percent.
02:07Similar story for the Nasdaq 100 on a percentage basis.
02:11Dow Transports, which had an awful day yesterday, only clawing back about five-tenths of a percent on the day.
02:15And Lisa Russell 2000 adding about 16 points, Isabel, up about a half a percent.
02:21Yeah, Romain, I want to head over to the yield space.
02:22We have the two-year, 4.66 percent.
02:25That's down about six basis points.
02:27The 10-year yield, 4.93 percent, and that's down about nine basis points right now.
02:33Let's now go to the IMAP.
02:35That's I-M-A-P on your Bloomberg terminal.
02:37And it's no surprise you're seeing mostly green on your screen.
02:39The tech space there is obviously the biggest winner, higher by more than 2 percent.
02:43And consumer discretionary, also in the green, by one and a half percent.
02:46Consumer staples actually barely hung in there but ended up in the negative territory.
02:50But it's really almost flat.
02:52And, of course, you see health care there, higher by six-tenths of one percent.
02:57All right.
02:57I want to get to our gainers now because Romain, I was a little excited about it before.
03:01Now we can get to it.
03:03Okay.
03:03Let's start with Intel, INTC.
03:06Their share is up more than seven and a half percent.
03:08So they're still riding this high after SK Hynek said it might be teaming up with them.
03:12We have the South Korean company, Memory Chipmaker.
03:14It issued this statement after Reuters reported the company could potentially lease part of Intel's long-planned chipmaking facility in
03:20Ohio
03:20or form a venture with Intel, major cloud computing firms.
03:26SK Hynek, so they said they didn't, you know, they haven't made a decision about a deal with Intel.
03:30Intel didn't comment on that report.
03:32But Intel did break ground for its Ohio campus back in 2022.
03:36But it's kind of slowed down the pace of the work on that site.
03:40I want to go now to SpaceX.
03:42That's S-P-C-X.
03:44And SpaceX shares, they're up nearly about two and a half percent.
03:48That's shares of Elon Musk's rocket AI company.
03:51So city analysts, they're basically saying reports that SK Hynek was in talks with Intel.
03:55That might have given SpaceX that kind of boost.
03:58But you also have SpaceX building that chipmaking facility with Tesla over in Austin, Texas.
04:04On top of that, analysts are pointing to talks about SpaceX-Tesla merger.
04:09Could that happen?
04:10Is it not going to happen?
04:11That also could be part of it.
04:13But then you have this Bloomberg report that SpaceX has held internal discussions about buying customer operational information from troubled
04:20or defunct startups.
04:21And that's targeting a more affordable data source to improve its artificial intelligence on models.
04:27I have to end off with Generac.
04:30It's ticker GNRC.
04:32And their share is up 18 percent.
04:35They're the makeup of those backup generators.
04:38I have one for my house.
04:40It's broken right now, so it's not working.
04:41I was stuck in the dark the other day.
04:43But the thing with these is that they agreed to supply up to $8 billion worth of generators for Amazon's
04:49data center.
04:50So that's kind of giving the stock a boost.
04:53Also issued a warrant for a stake in the company.
04:55This is all according to a securities filing.
04:59But we'll see.
05:00Analysts are saying the stock could double in price over the next 12 to 18 months.
05:04All right.
05:04I've got to look at some of the decliners here today.
05:07I was looking at the biggest losers in the S&P 500.
05:09Paramount Skydance among them.
05:11That's stocked down more than 4.6 percent here on the day.
05:14Its merger with Warner Brothers, we know, has been at a standstill.
05:17And it looks like a Barclays analyst hopes it stays that way.
05:20This analyst in a note today arguing the proposed merger between Paramount and Warner Brothers could introduce massive financial and
05:27operational risks.
05:28He predicts the company will eventually split up due to conflicting priorities.
05:33Of course, he also notes the potential merger faces an antitrust lawsuit filed by a group of state attorneys general
05:38led by California.
05:40Romain, I believe you're going to be speaking with California State Attorney General Rob Bonta.
05:43Yeah, I'm looking at him out of the corner of my eye right now, Alexis.
05:46Yeah, yeah.
05:47And also, I want to get in Lenar.
05:49Folks, when I picked Lenar earlier today, it was down big.
05:52But you know what?
05:52It reversed course.
05:53And it actually looks like it's going to finish the day a bit higher.
05:57But the stock is still down about 23 percent-ish year to date, down more than 40 percent in the
06:03past year.
06:03The home builder cut its home delivery target for the full year, citing interest rate pressures.
06:08We saw mortgage rates up around 7 percent again, and also worsening conditions in the housing market.
06:14Revenue and profit falling in the third quarter at Lenar.
06:17CEO Stuart Miller on the call said consumer confidence has declined at rates, as rates and affordability have driven more
06:23consumers to slow their purchase decision.
06:26And then to round out our decliners here, Fluence Energy, this is a company with a market cap of about
06:31$1.5 billion, tumbling 15 percent today, down more than 60 percent so far this year.
06:36It's an energy storage company, cut its revenue forecast for the year.
06:40Analysts note that the trim to the guidance was attributable to production issues at its Houston facility.
06:47All right, let's take a look at yields here, because a different picture than what we saw in the days
06:51leading up to that meeting.
06:53Yields down significantly across the curve, primarily on the longer end of the curve, with eight basis points lower on
06:59your 30-year and your 20-year, down about six to seven basis points right now on the two-year
07:05here.
07:05So a bit of relief, still some questions here as to whether that actually lasts much longer than a few
07:12days or whether we get another shock.
07:14One shock that I do have for you, I don't know if, Lisa, Alexis, you guys are football fans, college
07:19football fans, but the stadiums they're building now, they're getting a lot pricier.
07:23And that means the tickets and, more importantly, the suites, if you want in, it's getting a lot pricier as
07:27well, too.
07:28They're looking like professional football stadiums.
07:30Like, this is getting out of control.
07:32But you know what?
07:32They have to pay their athletes.
07:34They have to pay the coaches.
07:36They've got to pay the staff.
07:36That's right.
07:37They've got a lot of bills coming.
07:38Where do they get the money, though?
07:39That's the question.
07:40Yeah, the University of Kansas, right, they have their David Booth football stadium.
07:45It's going through an $800 million renovation, but they're not using the general school budget to do it.
07:50And apparently, David Booth himself, of course, is a financier, contributing $300 million of that.
07:55This is just unthinkable.
07:56They have more than 40 private suites.
07:58I mean, I didn't grow up here, so the whole sports world college thing is just so shocking to me.
08:03Embrace it.
08:04Embrace it, Isabel.
08:05It's the American way.
08:06The American way.
08:09Goodbye.
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