Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: This is the closing bell on this stock mover's report.
Speaker 2: The company's making moves at the close of US trading
Speaker 2: with Carol Masser, Tim Stenebeck, Romain Bostik, and Katie Greifel.
Speaker 1: All right, well, there's a little bit of green in
Speaker 1: the s and P five hundred. I went to that
Speaker 1: part of the IMAP function and found some gainers today.
Speaker 1: The biggest gainer on a percentage basis in the S
Speaker 1: and P five hundred is Energy today up more than
Speaker 1: six point eight percent. This is a result of a
Speaker 1: deal with Meta Platforms. It's paying for the construction of
Speaker 1: seven new natural gas fired plants to fuel its data
Speaker 1: center in rural Louisiana. Meta reaching a new agreement with
Speaker 1: Energy to build and pay for enough gas plants to
Speaker 1: provide a total of five point two gigawatts of electricity
Speaker 1: for the data center. The agreement includes a Meta commitment
Speaker 1: TEL fund up to two and a half gigawatts of
Speaker 1: new renewable resources, as well as a memorandum of understanding
Speaker 1: to explore future element and use of nuclear power. Entergy
Speaker 1: up by six point eight percent. The best performer on
Speaker 1: a percentage basis in the S and P five hundred
Speaker 1: among the best performers in there as well. I think
Speaker 1: it was actually the second best performer. That's right. Brown
Speaker 1: Foreman up again on news of a potential acquisition by
Speaker 1: Pernard Rashow. So look at that Brown Foreman controlled by
Speaker 1: the Brown family. Up five point six percent today. It
Speaker 1: was up yesterday as a result of this as well.
Speaker 1: The big question is is the family going to approve
Speaker 1: because they do have voting power of shares. And finally,
Speaker 1: a Peloton a blast from the past.
Speaker 3: Yes, and d out there speaking of twenty twenty two.
Speaker 4: I was on my peloton this morning. What I'm talking about?
Speaker 5: Yes, Katie has an impressive peloton.
Speaker 4: H that's quite the setup. All right.
Speaker 1: Well, I don't know how to segue that into what
Speaker 1: the stock did today, but it's up eight point nine percent.
Speaker 1: This is actually the result of Eric Jackson out there
Speaker 1: on social media. It serves as much as seventeen percent
Speaker 1: before giving back some of those gains. Surging the most
Speaker 1: intra day going back to July, Eric Jackson, the activist investor,
Speaker 1: said he is long the stock. Here's what he said, quote,
Speaker 1: I'm long Peloton at four dollars he said in a
Speaker 1: post on ex Peloton shares. At that point, we're down
Speaker 1: about twenty four percent year to date. Up right now though,
Speaker 1: we're up today to four dollars and forty three cents
Speaker 1: a shareow.
Speaker 5: So for decliners, I was very spoiled. I had a
Speaker 5: lot to choose from. We can start with Amazon. It's
Speaker 5: down by four percent. No specific news, but we do
Speaker 5: have the European Commission saying it was hit by a
Speaker 5: cyber attack that may have resulted in the taft of
Speaker 5: internal data and the tax struck the Commission's Amazon Web
Speaker 5: Services or AWS account so before being detected, So maybe
Speaker 5: that had something to do in part with the stocks decline.
Speaker 5: Up Next to Coinbase, I wanted to talk about this
Speaker 5: because I wrote about this story yesterday about how coinbase
Speaker 5: is teaming up with Better to really offer crypto mortgage.
Speaker 5: Tim will be interested in this to crypto mortgage to Americans.
Speaker 5: And now we have TD cow and saying that the
Speaker 5: product is mixed, so that's not really that great advantage
Speaker 5: for the borrow is that they can obtain credit against
Speaker 5: coin holdings the coin TD Covin said, but you know,
Speaker 5: it's still questionable how they will move forward with that.
Speaker 5: So we have coinbased down by more than seven percent,
Speaker 5: and lastly we have cybersecurity stocks down. But I want
Speaker 5: to zero in on the ticker PA and WPOLLO Alto
Speaker 5: shares are in the red by six percent. It's joined
Speaker 5: by its peers, CrowdStrike and Sailor dropped by almost double digits.
Speaker 5: So it's really because of a fortune report about an
Speaker 5: artificial intelligence model being tested may be used by hackers.
Speaker 4: All right, let's take a quick look at the bond market.
Speaker 4: There because also spoiled for choice, though you did see
Speaker 4: an interesting steepening which we were talking about with Jim Karen.
Speaker 4: You can see the two year yields actually fill eight
Speaker 4: basis points, a little bit of a rally in the
Speaker 4: short end of the curve, which was certainly interesting when
Speaker 4: you think about where we were after that ugly auction
Speaker 4: earlier in the week. Can't say the same for the
Speaker 4: rest of the curve, though you saw a little bit
Speaker 4: of selling pressure deeper as you get further out the curve.
Speaker 4: Thirty year yields higher by about four basis points. Ten
Speaker 4: year yields we are back above four forty ten. Are
Speaker 4: you scared?
Speaker 1: You know, I wouldn't say I'm scared, okay, But what
Speaker 1: I will say is I wonder what the President's next
Speaker 1: move is. Because yesterday, after the selloff, what we saw
Speaker 1: was a message from the President calling for an extension
Speaker 1: and by many accounts, perhaps a third sort of extension.
Speaker 1: And the idea was that maybe this would give more
Speaker 1: time for negotiations, and markets bought it a little bit.
Speaker 1: But then this morning, with seemingly increase in hostilities overnight
Speaker 1: and more strikes and strikes on infrastructure as well, markets
Speaker 1: are not buying the idea that there is a sort
Speaker 1: of an off ramp anytime soon. I mean, look no
Speaker 1: further than oil prices. You have Brent right now up
Speaker 1: above one hundred and thirteen dollars a barrel, WTI hitting
Speaker 1: one hundred dollars a barrel. That's up close to six
Speaker 1: percent right now, and Brent up isabel what almost five
Speaker 1: percent today.
Speaker 5: It's really been a wild in the oil market. But
Speaker 5: I'm wondering if we're a victim of our own quant
Speaker 5: system I'll go system, or just our own fear City
Speaker 5: release a note this week saying that selling off on
Speaker 5: Friday and buying back on Monday has been a recurrent
Speaker 5: pattern over the past few weeks because investors are just
Speaker 5: really worry of car and risk over the weekend because
Speaker 5: maybe they want to have a nice brunch session or
Speaker 5: hang out with their kids, but they buy at it.
Speaker 4: Thank you so much, Kenye.
Speaker 1: I appreciate that.
Speaker 5: Yes, I feel like that's really maybe something we're seeing.
Speaker 5: The city also said conviction has been low because of
Speaker 5: course it's a headline driven market and it's really been
Speaker 5: tough to figure out this narrative.
Speaker 3: Picking up on that, I wonder how inured we're getting
Speaker 3: to this, the way that all of this has unfolded.
Speaker 3: And Tim, I think your point is a very good one.
Speaker 3: What does the president say we're due next? We have
Speaker 3: this very specific ten day extension ending in eight pm
Speaker 3: East Coast time, which I think is three thirty am
Speaker 3: Tehran time on April the sixth. I just wonder sort
Speaker 3: of what power he has in this moment. I think
Speaker 3: that's what's been laid bare today as we've seen Israel
Speaker 3: make those strikes on infrastructure in Iran. Today, I think
Speaker 3: the present fee feels like he's still calling the shots
Speaker 3: and running the show and determining how long this is
Speaker 3: going to last. But I will say from what I've
Speaker 3: watched over the last few weeks, he seems to have
Speaker 3: limited power in that regard there, especially as this warwide
Speaker 3: and skating.
Speaker 4: And I'm sure you're going to be discussing something along
Speaker 4: these lines at seven am tomorrow and on Sunday. But
Speaker 4: it is interesting. I mean, you think about the potential
Speaker 4: endgames for Israel, you think about the potential endgame for
Speaker 4: the US. How much of a golf is there between them?
Speaker 4: That certainly is a big question. As this around war
Speaker 4: continues to deepen in terms of the timeframe, it's going
Speaker 4: to be interesting to see how all of this plays
Speaker 4: out in the market. I keep going back to this
Speaker 4: note from JP Morgan basically saying that should oil trade
Speaker 4: at one hundred and ten dollars dollars per barrel for
Speaker 4: the rest of the year, that earnings estimates for S
Speaker 4: and P five hundred companies would be shed by as
Speaker 4: much as about five percent. And that really is one
Speaker 4: of the last sort of rallying cries of the bulls
Speaker 4: out there that corporate America still looks pretty good right now.
Speaker 1: Tim, So that could be the view on what happens
Speaker 1: to earnings, But there's also a big political element to this.
Speaker 1: We had a great conversation with Joe Lovinger out of
Speaker 1: our Texas bureau earlier. He along with Jeff Mason out
Speaker 1: of DC, went to Seapack over the weekend and what
Speaker 1: they heard from people was a real difference in sort
Speaker 1: of their support for the president because of this war.
Speaker 1: But it reminds us that affordability is what this president
Speaker 1: ran on. It If oil stays high in affordability, things
Speaker 1: don't become more affordable for Americans. I think, you know,
Speaker 1: Republicans really could pay the price at the polls come November.
Speaker 1: But before that is Bloomberg this weekend, seven am tomorrow
Speaker 1: so much. David Gera will be there along with Christina Raffini.
Speaker 3: And hopefully you I mean watching yeah, comfort of the
Speaker 3: Peloton stee whatever.
Speaker 1: I will definitely be watching out, definitely up on.
Speaker 4: Your pelts on Bloomberg this weekend. It sounds like a
Speaker 4: great Saturday.
Speaker 1: It does. It is going to be a great Saturday.
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