1 00:00:02,520 --> 00:00:07,040 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:09,920 --> 00:00:13,360 Speaker 2: This is the closing bell on this stock mover's report. 3 00:00:13,600 --> 00:00:16,560 Speaker 2: The company's making moves at the close of US trading 4 00:00:16,800 --> 00:00:21,319 Speaker 2: with Carol Masser, Tim Stenebeck, Romain Bostik, and Scarlet Food. 5 00:00:22,239 --> 00:00:24,520 Speaker 1: Let's just check in on industry groups and more broadly 6 00:00:24,560 --> 00:00:27,479 Speaker 1: what we've seen across the ball, because well, just consumer 7 00:00:27,520 --> 00:00:28,479 Speaker 1: staples and the red. 8 00:00:28,360 --> 00:00:30,520 Speaker 3: Everything else is in the green from once we have breadth. 9 00:00:30,760 --> 00:00:34,200 Speaker 1: But look it, Technology still on for a good run 10 00:00:34,240 --> 00:00:35,879 Speaker 1: one point three percent, and NASAC is still down on 11 00:00:35,880 --> 00:00:37,919 Speaker 1: the whek, but we're up on the day, energy up 12 00:00:37,960 --> 00:00:38,479 Speaker 1: two percent. 13 00:00:38,560 --> 00:00:40,960 Speaker 4: Industrials, it really feels as though that's. 14 00:00:40,760 --> 00:00:43,680 Speaker 1: The air that gets powered by the hint of rate cuts. 15 00:00:43,840 --> 00:00:46,080 Speaker 3: Look at all that green on the screen. Scarlet Food 16 00:00:46,080 --> 00:00:49,279 Speaker 3: would call that a spinach pizza pie. I feel bad 17 00:00:49,320 --> 00:00:51,040 Speaker 3: for whoever had to do decliners today. That would be 18 00:00:51,120 --> 00:00:53,080 Speaker 3: normal me, Linda norl thanks for doing you left me 19 00:00:53,120 --> 00:00:56,200 Speaker 3: with the hard work I did. I'm sorry about that. Hey, 20 00:00:56,960 --> 00:00:59,520 Speaker 3: look at the KBW Bank Index up three point two 21 00:00:59,520 --> 00:01:03,880 Speaker 3: percent in rade sensitive stocks surging today. This is the 22 00:01:03,960 --> 00:01:07,760 Speaker 3: highest close first record going all the way back to 23 00:01:07,840 --> 00:01:11,840 Speaker 3: twenty twenty two, first record for the KBW Bank Index 24 00:01:12,160 --> 00:01:14,400 Speaker 3: up three point two percent, going back to twenty twenty two, 25 00:01:14,920 --> 00:01:17,160 Speaker 3: all because of what we heard from J. Powell. Traders 26 00:01:17,200 --> 00:01:19,679 Speaker 3: happy that he signaled a willingness to cut rates next month, 27 00:01:19,720 --> 00:01:22,480 Speaker 3: pointing to risks rising risks for the labor market even 28 00:01:22,520 --> 00:01:26,759 Speaker 3: as worries over inflation remain. Also, Caroline, you mentioned Intel. 29 00:01:26,920 --> 00:01:30,280 Speaker 3: This was certainly on my radar today for a gainer. 30 00:01:30,520 --> 00:01:34,080 Speaker 3: Intel shares absolutely surging on the day, this after we 31 00:01:34,200 --> 00:01:37,320 Speaker 3: learned that the President said that Intel had agreed to 32 00:01:37,319 --> 00:01:41,240 Speaker 3: give the US government a ten percent equity stake in 33 00:01:41,319 --> 00:01:45,000 Speaker 3: the company, the President casting the agreement as one that 34 00:01:45,120 --> 00:01:49,160 Speaker 3: would revitalize Intel, saying the company would quote has been 35 00:01:49,240 --> 00:01:52,920 Speaker 3: left behind compared to competitors in the chip making industry. 36 00:01:53,320 --> 00:01:56,400 Speaker 3: Intel shares were up as much as six percent earlier 37 00:01:56,440 --> 00:02:01,160 Speaker 3: in the session and today up by five point six percent. 38 00:02:02,000 --> 00:02:06,400 Speaker 3: Also on the day today, Apple shares hitting session highs. 39 00:02:06,440 --> 00:02:10,480 Speaker 3: This after Bloomberg's Mark German reported exclusively that Apple's in 40 00:02:10,480 --> 00:02:13,440 Speaker 3: early discussions about using Google Gemini to power a revamp 41 00:02:13,560 --> 00:02:17,240 Speaker 3: version of Series Voice Assistant. It's a key potential step 42 00:02:17,240 --> 00:02:21,200 Speaker 3: toward outsourcing more of its AI technology. Talk about strange bedfellows, 43 00:02:21,200 --> 00:02:26,320 Speaker 3: I mean can you believe that? I emailed Mark German. 44 00:02:26,360 --> 00:02:28,880 Speaker 3: It reminds me of that moment Caroline, like ten years 45 00:02:28,880 --> 00:02:30,720 Speaker 3: ago when there was a demo I think it was 46 00:02:30,760 --> 00:02:33,920 Speaker 3: an iPad or an iPhone demo and they invited Microsoft 47 00:02:34,040 --> 00:02:36,720 Speaker 3: to come on the stage to and everyone was like, 48 00:02:36,760 --> 00:02:39,000 Speaker 3: what do you This is Apple and Microsoft. These are 49 00:02:39,160 --> 00:02:39,720 Speaker 3: two companies. 50 00:02:39,880 --> 00:02:44,720 Speaker 4: Remember billions to Apple all the time to be able 51 00:02:44,760 --> 00:02:47,560 Speaker 4: to be the number one search destination on their phones. 52 00:02:47,600 --> 00:02:49,480 Speaker 2: That's the one that's been quibbled with by the government. 53 00:02:49,600 --> 00:02:52,320 Speaker 3: Slot there. It is frenemies, I think is the best 54 00:02:52,360 --> 00:02:55,200 Speaker 3: way to describe that. All Right, Nora, you've have the 55 00:02:55,240 --> 00:02:56,600 Speaker 3: hard job, take it away. 56 00:02:56,639 --> 00:02:59,720 Speaker 4: Here we go, So let's take a look at some 57 00:02:59,720 --> 00:03:01,320 Speaker 4: of the liners that we sell today. I'm going to 58 00:03:01,400 --> 00:03:03,080 Speaker 4: start out with the biggest decliner in the S and 59 00:03:03,080 --> 00:03:05,360 Speaker 4: P five hundred today and that was into it. This 60 00:03:05,400 --> 00:03:07,320 Speaker 4: has really been a stock that has been in focus 61 00:03:07,680 --> 00:03:11,560 Speaker 4: after the software the tax software company delivered a tepid 62 00:03:11,560 --> 00:03:15,320 Speaker 4: forecast and this is completely overshadowed and otherwise strong fourth 63 00:03:15,360 --> 00:03:18,680 Speaker 4: quarter report. But we do have some commentary out from 64 00:03:18,720 --> 00:03:21,560 Speaker 4: Morgan Stanley, the analysts over there, saying that given solid 65 00:03:21,560 --> 00:03:25,760 Speaker 4: progress on core growth initiatives, and a history of conservative guides, 66 00:03:26,000 --> 00:03:28,200 Speaker 4: they would be a buyer on weakness here, but of 67 00:03:28,200 --> 00:03:30,919 Speaker 4: course we did see that the stock still ended lower today, 68 00:03:30,960 --> 00:03:33,880 Speaker 4: down about five point one percent. For this one hundred 69 00:03:33,880 --> 00:03:36,800 Speaker 4: and eighty five billion dollar company, shares up about five 70 00:03:36,920 --> 00:03:41,160 Speaker 4: point four percent year today. Let's move over to Workday Sharers. 71 00:03:41,200 --> 00:03:43,600 Speaker 4: This is a company that's also been in focused investors 72 00:03:43,600 --> 00:03:46,840 Speaker 4: were left disappointed that the HR Software company left its 73 00:03:46,840 --> 00:03:51,080 Speaker 4: subscription revenue guidance unchanged completely flat here, apart from a 74 00:03:51,120 --> 00:03:54,200 Speaker 4: small boost that they did have from the Paradox acquisition, 75 00:03:54,520 --> 00:03:57,440 Speaker 4: Analysts on Wall Street are really flagging concerns around AI 76 00:03:57,560 --> 00:04:01,720 Speaker 4: displacement continuing to linger here. Barclays is saying that the 77 00:04:01,800 --> 00:04:04,200 Speaker 4: quarter was solid and the slight beats on a couple 78 00:04:04,240 --> 00:04:08,680 Speaker 4: things like subscription revenue, alongside with meaningful outperformance on profitability 79 00:04:08,720 --> 00:04:11,640 Speaker 4: and cash flow would usually warrant a positive response here, 80 00:04:11,640 --> 00:04:12,880 Speaker 4: but of course we know this is one of the 81 00:04:12,920 --> 00:04:16,039 Speaker 4: decliners so here in the red on this Friday afternoon. 82 00:04:16,279 --> 00:04:19,280 Speaker 4: Shares of Workday or down about fourteen percent so far 83 00:04:19,360 --> 00:04:23,240 Speaker 4: this year. And lastly, let's take a look at CSXSX 84 00:04:23,640 --> 00:04:25,240 Speaker 4: of keeping an eye on a lot of those rail 85 00:04:25,320 --> 00:04:27,840 Speaker 4: stocks here, I'm looking at S one five rail that 86 00:04:27,960 --> 00:04:30,600 Speaker 4: index is down just a touch, down three tenths of 87 00:04:30,640 --> 00:04:33,160 Speaker 4: a percent today. But this is after we did hear 88 00:04:33,640 --> 00:04:38,760 Speaker 4: that CSX and BNSF announce a new intermodal service products 89 00:04:38,800 --> 00:04:41,920 Speaker 4: to ship between the western and Eastern US. A lot 90 00:04:41,920 --> 00:04:43,600 Speaker 4: of people were really looking for some sort of m 91 00:04:43,640 --> 00:04:46,120 Speaker 4: and a here in this space for the railroad industry, 92 00:04:46,320 --> 00:04:48,320 Speaker 4: but we're just seeing a partnership here. So you are 93 00:04:48,360 --> 00:04:51,120 Speaker 4: seeing that reflected in terms of Wall Street sentiment here 94 00:04:51,160 --> 00:04:51,760 Speaker 4: for this stock. 95 00:04:52,240 --> 00:04:54,360 Speaker 1: Some lonely sliders there today. Well you know what else 96 00:04:54,480 --> 00:04:57,600 Speaker 1: was down, guys. Yields were down. Look at that, it 97 00:04:57,600 --> 00:05:00,800 Speaker 1: looks green, but actually that is the buy of treasuries, 98 00:05:00,880 --> 00:05:02,960 Speaker 1: the dropping of yields. And that tenure dropped like a 99 00:05:03,000 --> 00:05:07,080 Speaker 1: stone after the Fed chair's speech was released, down more 100 00:05:07,080 --> 00:05:09,080 Speaker 1: than ten basis points to finish the day at three 101 00:05:09,120 --> 00:05:11,480 Speaker 1: sixty nine. That costs the curve you could see there 102 00:05:11,600 --> 00:05:15,080 Speaker 1: was lower, but obviously towards the back end, not the 103 00:05:15,480 --> 00:05:17,320 Speaker 1: huge moves that we saw at the front end. In fact, 104 00:05:17,520 --> 00:05:19,680 Speaker 1: the thirty year yielder finishing the session at four eighty 105 00:05:19,720 --> 00:05:22,720 Speaker 1: seven seventy six, and that tenure glued to the four 106 00:05:22,720 --> 00:05:25,560 Speaker 1: to twenty five Mark four, twenty five thirty seven. But 107 00:05:25,640 --> 00:05:27,880 Speaker 1: I do want to point out one thing. Anamong from 108 00:05:27,920 --> 00:05:30,720 Speaker 1: Bloomberg Economics is out with a note suggesting that perhaps 109 00:05:30,960 --> 00:05:33,080 Speaker 1: markets are being a little bit too sanguine here, that 110 00:05:33,360 --> 00:05:36,640 Speaker 1: the speech was actually peppered with hawkishness. In her words, 111 00:05:36,920 --> 00:05:39,760 Speaker 1: she's saying, he talked a lot about labor market cooling, 112 00:05:40,080 --> 00:05:44,040 Speaker 1: he didn't signal the need for urgent action. So maybe 113 00:05:44,120 --> 00:05:46,200 Speaker 1: watch the space. Maybe we've all sort of written off 114 00:05:46,240 --> 00:05:48,880 Speaker 1: September as a month where the rate cycle starts, the 115 00:05:48,960 --> 00:05:51,839 Speaker 1: rate cutting cycle, and maybe in the end it doesn't happen, 116 00:05:51,839 --> 00:05:53,760 Speaker 1: which would make for a big reversal I imagine. 117 00:05:53,920 --> 00:05:56,720 Speaker 3: Yeah, Actually, Nora brought this up on our program earlier. 118 00:05:56,880 --> 00:05:58,560 Speaker 3: Is it going to be if there is a cut 119 00:05:58,560 --> 00:06:00,640 Speaker 3: in September? Is it going to be a high cut 120 00:06:00,720 --> 00:06:03,719 Speaker 3: or a dubvish cut? And yeah, I guess we'll have 121 00:06:03,760 --> 00:06:05,359 Speaker 3: to wait and see. And there's plenty for us to 122 00:06:05,760 --> 00:06:07,760 Speaker 3: sort of digest between now and then on a lot 123 00:06:07,760 --> 00:06:09,719 Speaker 3: of data that comes between now and then that could 124 00:06:09,839 --> 00:06:11,920 Speaker 3: change the narrative and change the picture. 125 00:06:13,400 --> 00:06:17,440 Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with 126 00:06:17,520 --> 00:06:20,080 Speaker 2: us throughout the day for the latest roundup of companies 127 00:06:20,160 --> 00:06:23,280 Speaker 2: making news on Wall Street, and for the latest market 128 00:06:23,279 --> 00:06:27,760 Speaker 2: moving headlines, listen to Bloomberg Radio Live. Catch us on YouTube, 129 00:06:27,839 --> 00:06:31,359 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 130 00:06:31,440 --> 00:06:32,919 Speaker 2: the Bloomberg Business App.