1 00:00:02,440 --> 00:00:05,840 Speaker 1: Global business news twenty four hours a day at Bloomberg 2 00:00:05,880 --> 00:00:08,920 Speaker 1: dot com, the Radio plus mobile and on your radio. 3 00:00:09,200 --> 00:00:13,600 Speaker 1: This is a Bloomberg Business from Bloomberg World Headquarters. I'm 4 00:00:13,680 --> 00:00:18,120 Speaker 1: Charlie Pwott. Stocks higher, folks from the Brazilian American Chamber 5 00:00:18,120 --> 00:00:20,800 Speaker 1: of Commerce, ringing that closing bell, and we are brought 6 00:00:20,840 --> 00:00:24,120 Speaker 1: to you by Sector Spider E t F S. Why 7 00:00:24,160 --> 00:00:27,400 Speaker 1: by a single stock when you can invest in the 8 00:00:27,640 --> 00:00:31,280 Speaker 1: entire sector? Visits sector s p d r S dot 9 00:00:31,360 --> 00:00:35,800 Speaker 1: Com recall Sector E t F A rally and crude 10 00:00:35,800 --> 00:00:40,360 Speaker 1: boosting energy shares Today, West Texas Intermediate up three point 11 00:00:40,640 --> 00:00:45,280 Speaker 1: six percent, gaining a dollar sixty six eighty six or share. 12 00:00:45,600 --> 00:00:49,159 Speaker 1: Apple jumping after Berkshire Hathaway disclosed a stake in the 13 00:00:49,280 --> 00:00:53,000 Speaker 1: iPhone maker. Apple up today by three point seven percent. 14 00:00:53,080 --> 00:00:57,320 Speaker 1: Berkshire advancing point two percent. That's Berkshire talking about the 15 00:00:57,400 --> 00:01:01,600 Speaker 1: Class A shares. There, SMP five hundred index climbing twenty 16 00:01:01,640 --> 00:01:04,720 Speaker 1: points to two thousand, sixty six, a gain of one percent. 17 00:01:05,120 --> 00:01:08,240 Speaker 1: Down Industrials up one hundred seventy four points a gain 18 00:01:08,360 --> 00:01:12,039 Speaker 1: of one percent. Naz Dak up fifty seven points higher 19 00:01:12,080 --> 00:01:15,360 Speaker 1: by one point two percent. A busy week for economic data. 20 00:01:15,720 --> 00:01:19,039 Speaker 1: New data coming out tomorrow morning on consumer prices. Brad 21 00:01:19,120 --> 00:01:23,240 Speaker 1: McMillan is chief investment officer at Commonwealth Financials. To see 22 00:01:23,240 --> 00:01:28,959 Speaker 1: an increase in uh in inflation at the headline level, particularly, 23 00:01:28,959 --> 00:01:31,920 Speaker 1: but also at the core level, I'm gonna see maybe 24 00:01:31,920 --> 00:01:33,840 Speaker 1: a little bit of fireworks because you could see the 25 00:01:33,880 --> 00:01:36,800 Speaker 1: headline number check up, but it's not going to mean anything. 26 00:01:36,880 --> 00:01:39,160 Speaker 1: The important number is a core number and actually just 27 00:01:39,200 --> 00:01:41,280 Speaker 1: be more of the same. And he was our guest 28 00:01:41,319 --> 00:01:45,320 Speaker 1: interview minutes ago right here on taking stock. The SMP 29 00:01:45,480 --> 00:01:49,040 Speaker 1: five hundred index climb twenty points to two thousand, sixty six, 30 00:01:49,120 --> 00:01:53,160 Speaker 1: up one percent down Industrials advancing one hundred and seventy 31 00:01:53,160 --> 00:01:56,960 Speaker 1: four points, also up by one percent. The NaSTA compositive 32 00:01:56,960 --> 00:01:59,559 Speaker 1: index of fifty seven, a gain of one point two percent, 33 00:01:59,680 --> 00:02:03,160 Speaker 1: ten down fourteen thirty seconds had yield one point seven 34 00:02:04,200 --> 00:02:07,400 Speaker 1: and gold hired today by three dollars thirty cents. He 35 00:02:07,480 --> 00:02:10,160 Speaker 1: ounced to twelve seventy six for gold. That is a 36 00:02:10,240 --> 00:02:13,519 Speaker 1: gain of three tenths of one percent. It is four 37 00:02:13,560 --> 00:02:15,960 Speaker 1: oh two on Wall Street. Now, let's take a look 38 00:02:16,000 --> 00:02:19,359 Speaker 1: at other news from around the world on Bloomberg Radio. 39 00:02:20,040 --> 00:02:23,000 Speaker 1: Thank you Charlie from the Bloomberg news Room. I'm Sherry Anne, 40 00:02:23,320 --> 00:02:26,520 Speaker 1: and voters go to the posy in Oregon in Kentucky tomorrow. 41 00:02:26,760 --> 00:02:30,080 Speaker 1: Today Bernie Sanders was in Puerto Rico talking about the 42 00:02:30,160 --> 00:02:35,120 Speaker 1: territories worsening dead crisis. Austerity will cause more suffering for 43 00:02:35,240 --> 00:02:39,560 Speaker 1: working people and make the rich rich up. We must 44 00:02:39,760 --> 00:02:44,280 Speaker 1: vigorously oppose all efforts at us. Thus, special onboy In, 45 00:02:44,320 --> 00:02:47,400 Speaker 1: Bret McGurk says the Islamic State is losing the battle 46 00:02:47,480 --> 00:02:51,000 Speaker 1: to maintain control, especially in places like the Syrian city 47 00:02:51,000 --> 00:02:53,920 Speaker 1: of Rocca, where you, Hannie John was killed by a drone. 48 00:02:54,120 --> 00:02:57,160 Speaker 1: We found him, we tracked him, and we targeted him 49 00:02:57,160 --> 00:02:59,640 Speaker 1: with such precision on the streets of Rocca that nobody 50 00:02:59,639 --> 00:03:02,760 Speaker 1: else was hard. McGurk says the coalition will continue to 51 00:03:02,760 --> 00:03:05,920 Speaker 1: target the leaders of Islamic State. North Carolina and so 52 00:03:06,000 --> 00:03:10,240 Speaker 1: called bathroom law is facing another legal challenge. The American 53 00:03:10,320 --> 00:03:13,359 Speaker 1: Civil Liberties Union wants a federal judge to stop the 54 00:03:13,440 --> 00:03:16,480 Speaker 1: law from being enforced. The State of North Carolina and 55 00:03:16,480 --> 00:03:19,119 Speaker 1: the Justice Department are seeing each other over the law, 56 00:03:19,360 --> 00:03:22,680 Speaker 1: which allows transgender people to use the bathroom that corresponds 57 00:03:22,720 --> 00:03:26,359 Speaker 1: to their sex at birth after stalling for months, Congress 58 00:03:26,440 --> 00:03:29,640 Speaker 1: is ready to move on President Obama's request for additional 59 00:03:29,720 --> 00:03:34,040 Speaker 1: money to fight Zeka. House Republicans today release legislation to 60 00:03:34,080 --> 00:03:37,520 Speaker 1: provide six hundred and twenty two million dollars, and at 61 00:03:37,560 --> 00:03:40,200 Speaker 1: one point one billion dollar measure is expected to be 62 00:03:40,280 --> 00:03:44,000 Speaker 1: endorsed by the Senate tomorrow. Along Island Park has removed 63 00:03:44,040 --> 00:03:46,920 Speaker 1: signs bearing the name of disgraced former New York Senate 64 00:03:47,000 --> 00:03:50,880 Speaker 1: Majority leader Dean Scallows. Scalos was sentenced last week to 65 00:03:51,120 --> 00:03:55,360 Speaker 1: five years in prison on federal corruption charges. Global News 66 00:03:55,400 --> 00:03:57,920 Speaker 1: twenty four hours a day, powered by our twenty four 67 00:03:57,960 --> 00:04:00,120 Speaker 1: hundred journalists in more than a hundred and fifth can 68 00:04:00,200 --> 00:04:02,960 Speaker 1: use bureaus around the world. From the Bloomberg youth Room, 69 00:04:03,000 --> 00:04:06,640 Speaker 1: I'm Sherry, Anne Charlie, and we thank you and again 70 00:04:06,680 --> 00:04:11,520 Speaker 1: recapping stocks are higher, SMP advancing twenty points to two thousand, 71 00:04:11,560 --> 00:04:14,640 Speaker 1: sixty six one percent. The now also up by one 72 00:04:14,680 --> 00:04:18,240 Speaker 1: percent and has that climbed one point two percent. I'm 73 00:04:18,360 --> 00:04:22,560 Speaker 1: Charlie Pellett, and that's a Bloomberg business flash. Move around, 74 00:04:22,720 --> 00:04:28,839 Speaker 1: mortingrad promotion up. Move on the move like they do. 75 00:04:29,040 --> 00:04:35,280 Speaker 1: I've never seen anyone move that fast hard people. Let's 76 00:04:35,320 --> 00:04:42,359 Speaker 1: move like to get a purpose. That was called movers 77 00:04:42,360 --> 00:04:45,120 Speaker 1: and Shakers. They cost a little more about that name 78 00:04:45,160 --> 00:04:55,120 Speaker 1: cracked me up. Bloomberg taking stock movers and Shakers with 79 00:04:55,240 --> 00:04:59,200 Speaker 1: Pim Fox and Kathleen Hay's on Bloomberg Radio. Let's take 80 00:04:59,240 --> 00:05:01,200 Speaker 1: a look at guess and P. Five hundred to get 81 00:05:01,240 --> 00:05:03,640 Speaker 1: a sense of just how strong the conviction was today 82 00:05:03,680 --> 00:05:06,320 Speaker 1: for a move up in stock prices for or thirty 83 00:05:06,320 --> 00:05:09,800 Speaker 1: two companies had their share price and higher, seventy two lower, 84 00:05:10,000 --> 00:05:12,920 Speaker 1: two unchanged. Our stocks that are Dave Wilson is back 85 00:05:12,960 --> 00:05:15,320 Speaker 1: with us in studio to kickoff Movers and Shakers. Got 86 00:05:15,440 --> 00:05:18,599 Speaker 1: to talk about the biggest gain across US stocks today. 87 00:05:18,600 --> 00:05:22,120 Speaker 1: It was Anacre Pharmaceuticals, a ticker is a n A C. 88 00:05:22,839 --> 00:05:26,600 Speaker 1: This company is developing a treatment for the skin disease xema. 89 00:05:26,760 --> 00:05:30,080 Speaker 1: They accepted a takeover offer from Fiser that's valued at 90 00:05:30,160 --> 00:05:33,720 Speaker 1: five point two billion dollars. This is Fiser's first deal 91 00:05:33,880 --> 00:05:36,640 Speaker 1: since they have abandoned a proposed a hundred and sixty 92 00:05:36,640 --> 00:05:41,080 Speaker 1: billion dollar takeover Our again now. Drugs similar to anachords 93 00:05:41,120 --> 00:05:44,599 Speaker 1: are under development at Celgene and Regenera On Pharmaceuticals, and 94 00:05:44,640 --> 00:05:46,760 Speaker 1: those stocks rose as well. Let's go through the numbers. 95 00:05:46,920 --> 00:05:50,919 Speaker 1: An Acre up fifty seven percent on the day, fires 96 00:05:50,960 --> 00:05:53,640 Speaker 1: are actually hired two up six tenths per percent, cell 97 00:05:53,720 --> 00:05:56,360 Speaker 1: Gene with one point four percent gain, and Regenera on 98 00:05:56,760 --> 00:05:59,040 Speaker 1: a top performer in the s and P five hundred 99 00:05:59,160 --> 00:06:04,200 Speaker 1: of six point one percent. L Brands, the women's apparel 100 00:06:04,200 --> 00:06:07,520 Speaker 1: and beauty product companies, are best known for its Victoria's 101 00:06:07,520 --> 00:06:10,279 Speaker 1: Secret brand. Shares down about a half a percent the 102 00:06:10,320 --> 00:06:14,800 Speaker 1: company reports results on Wednesday. The stock is down about 103 00:06:14,839 --> 00:06:17,320 Speaker 1: thirty percent so far this year, and it hit a 104 00:06:17,360 --> 00:06:22,039 Speaker 1: new fifty two week low today sixty six dollars and 105 00:06:22,200 --> 00:06:26,040 Speaker 1: a thirty seven cents UH. Core weakness in the Victoria's 106 00:06:26,080 --> 00:06:31,039 Speaker 1: Secret core offerings, perhaps combined with anticipated effect of the 107 00:06:31,120 --> 00:06:35,040 Speaker 1: elimination of the Victorious Secret catalog and some product categories 108 00:06:35,520 --> 00:06:37,599 Speaker 1: perhaps going to be the focus when the company reports 109 00:06:37,640 --> 00:06:40,880 Speaker 1: its first quarter results. As I said on Wednesday, once 110 00:06:40,880 --> 00:06:43,279 Speaker 1: again L Brands down half a percent, hitting a new 111 00:06:43,320 --> 00:06:46,960 Speaker 1: fifty two week low. Oil in particular, commodities in general 112 00:06:47,000 --> 00:06:49,960 Speaker 1: helping to boost the stock market today. Let's take a 113 00:06:49,960 --> 00:06:55,760 Speaker 1: look at Marathon Oil shares up nearly five percent today 114 00:06:55,839 --> 00:06:59,960 Speaker 1: after crude oil rose more than three percent. Oil prices 115 00:07:00,040 --> 00:07:04,040 Speaker 1: is rolling on concerns about supply outages in Nigeria Venezuela, 116 00:07:04,080 --> 00:07:06,400 Speaker 1: and then Goldman Sacks has been pretty bearished on oil 117 00:07:06,440 --> 00:07:09,440 Speaker 1: prices see mean more positive on the market now, saying 118 00:07:09,440 --> 00:07:12,520 Speaker 1: that the oil market has gone from UH nearing storage 119 00:07:12,600 --> 00:07:17,000 Speaker 1: saturation to actually being in deficit as of May, sustained 120 00:07:17,160 --> 00:07:20,960 Speaker 1: strong demand and declining production. Goldman now expecting oil prices 121 00:07:20,960 --> 00:07:22,960 Speaker 1: to increase to fifty bucks of air on the second 122 00:07:22,960 --> 00:07:25,520 Speaker 1: half of the year, and that compares with its April 123 00:07:25,560 --> 00:07:29,120 Speaker 1: twenty second outlook for prices between forty and forty five 124 00:07:29,160 --> 00:07:31,080 Speaker 1: and the second half according the Wall Street Journal Dave 125 00:07:31,320 --> 00:07:34,000 Speaker 1: So not too surprising to see the move today. Here's 126 00:07:34,000 --> 00:07:38,880 Speaker 1: a corporate name for you, Ingevity. It's a brand new 127 00:07:38,920 --> 00:07:43,080 Speaker 1: public company was just spun off to make or specialty 128 00:07:43,160 --> 00:07:45,880 Speaker 1: chemicals that used to be part of the paper and 129 00:07:45,960 --> 00:07:49,200 Speaker 1: packaging company west Rock that was formed through a merger 130 00:07:49,320 --> 00:07:52,920 Speaker 1: last year. Ngevity trading under the ticker n g VT 131 00:07:53,360 --> 00:07:56,720 Speaker 1: and UH investors kind of like this one stock, with 132 00:07:56,760 --> 00:07:59,600 Speaker 1: a gain of seven point three percent in its first 133 00:07:59,640 --> 00:08:04,840 Speaker 1: full of trading post spinoff, Sears Holdings hitting a new 134 00:08:04,840 --> 00:08:08,000 Speaker 1: fifty two week load today. The stock down nearly fifty 135 00:08:08,720 --> 00:08:11,120 Speaker 1: so far this year, down five cents today trading at 136 00:08:11,160 --> 00:08:14,440 Speaker 1: eleven dollars and eight cents. But Warren Buffett seems to 137 00:08:14,480 --> 00:08:17,600 Speaker 1: have given Sears an indirect, but maybe financially material vote 138 00:08:17,600 --> 00:08:23,520 Speaker 1: of confidence. Sears bears seemingly not not smart to think 139 00:08:23,520 --> 00:08:25,120 Speaker 1: that the company is anywhere close to being on the 140 00:08:25,120 --> 00:08:28,480 Speaker 1: brink of failure as many claim. Uh. This all according 141 00:08:28,520 --> 00:08:32,080 Speaker 1: to Warren Buffett, and uh he says, well, maybe the 142 00:08:32,120 --> 00:08:37,480 Speaker 1: company has some material value once again, shares of Sears 143 00:08:37,480 --> 00:08:39,760 Speaker 1: holding though going the other way down to a fifty 144 00:08:39,760 --> 00:08:41,679 Speaker 1: two week load to day eleven dollars eight cents. And 145 00:08:41,800 --> 00:08:44,240 Speaker 1: let's look at Freeport mcmaran, so we get a sense 146 00:08:44,280 --> 00:08:46,760 Speaker 1: of how important this boost and oil prices has been 147 00:08:46,880 --> 00:08:51,800 Speaker 1: for commodity prices more broadly. Today I just mentioned the 148 00:08:51,800 --> 00:08:55,080 Speaker 1: supply disruptions in Nigeria increased a man, but Freeport among 149 00:08:55,080 --> 00:08:57,800 Speaker 1: the leaders in the SP five hundred today, as cow 150 00:08:57,960 --> 00:09:00,400 Speaker 1: And and and Company raised their forecast of fifteen dollars to 151 00:09:00,520 --> 00:09:03,000 Speaker 1: share from ten dollars, and in fact, the Bloomberg commodity 152 00:09:03,000 --> 00:09:06,839 Speaker 1: in decks of raw materials rose as much as one percent. 153 00:09:07,200 --> 00:09:09,520 Speaker 1: The commodities complex seems to be marching higher under the 154 00:09:09,600 --> 00:09:11,880 Speaker 1: leadership of oils is Michael Turect, the head of Base 155 00:09:11,960 --> 00:09:15,760 Speaker 1: Medals at BGC Partners in New York. Alright, it's time 156 00:09:15,760 --> 00:09:18,400 Speaker 1: now for the Volatility Index report and of course brought 157 00:09:18,440 --> 00:09:21,040 Speaker 1: to you by the cbo E VIX options and the futures. 158 00:09:21,120 --> 00:09:24,880 Speaker 1: Volatility can be harnessed with cbo EVIS options and future 159 00:09:24,920 --> 00:09:28,520 Speaker 1: c disclosures. Learn more at a cbo E dot com 160 00:09:28,640 --> 00:09:33,200 Speaker 1: slash Powerful Outcomes VIX. The VIX down today, down about 161 00:09:33,240 --> 00:09:37,679 Speaker 1: three and a half percent, closing at fourteen point to 162 00:09:37,920 --> 00:09:41,439 Speaker 1: fifty one. And just taking a look at the VIX 163 00:09:41,520 --> 00:09:45,880 Speaker 1: that while I was down point five three and potential 164 00:09:46,040 --> 00:09:52,160 Speaker 1: volatility points Brexit, that's the June vote, continuing concern about China, 165 00:09:52,280 --> 00:09:54,760 Speaker 1: validated by those week numbers that were received over the weekend, 166 00:09:54,760 --> 00:09:57,880 Speaker 1: and of course that the f MC meeting on June 167 00:09:58,040 --> 00:10:04,800 Speaker 1: the fifteenth, volatility may increase. All right, Dave, you're hi. 168 00:10:05,640 --> 00:10:10,640 Speaker 1: My name is Dave. Just what do you think you're doing? 169 00:10:11,120 --> 00:10:20,520 Speaker 1: We're going for a pound, will Dave da Editors Medicine 170 00:10:20,960 --> 00:10:24,480 Speaker 1: uh it gained assisting fibrosis foundations backing for its drug 171 00:10:24,520 --> 00:10:28,760 Speaker 1: development work, having some impact on the stock today. Dave Wilson. Absolutely, 172 00:10:28,760 --> 00:10:32,600 Speaker 1: I mean Editas Medicines in the editing business, as its 173 00:10:32,679 --> 00:10:36,000 Speaker 1: name I applies. We're talking about genome editing in which 174 00:10:36,000 --> 00:10:39,960 Speaker 1: a patient's DNA is modified. Company uses a technique called 175 00:10:40,040 --> 00:10:43,520 Speaker 1: crisper uh no e in that name to cut out 176 00:10:43,640 --> 00:10:48,240 Speaker 1: sections of d N A. Now. Edita started in and 177 00:10:48,280 --> 00:10:51,679 Speaker 1: raised the hundred sixty three point three million dollars privately. Microsoft, 178 00:10:51,800 --> 00:10:55,240 Speaker 1: Bill Gates and Alphabet's venture unit g V were among 179 00:10:55,280 --> 00:10:57,920 Speaker 1: its investors, coming and made a hundred eight million dollar 180 00:10:58,000 --> 00:11:01,640 Speaker 1: initial public offering in February, and it's sticker is edit 181 00:11:01,880 --> 00:11:04,160 Speaker 1: E d I T now. The IPL was done at 182 00:11:04,200 --> 00:11:07,439 Speaker 1: sixteen dollars a share, while Editas dip below that price 183 00:11:07,520 --> 00:11:10,520 Speaker 1: during the first two weeks of trading, the company quickly 184 00:11:10,600 --> 00:11:14,160 Speaker 1: shed the busted I p O status. Shares rose as 185 00:11:14,200 --> 00:11:19,240 Speaker 1: high as in March before retreating below thirty dollars last week. Today, 186 00:11:19,480 --> 00:11:23,319 Speaker 1: Editas rallied after gaining that financial support from the Cystic 187 00:11:23,360 --> 00:11:26,640 Speaker 1: five Rosis Foundation. Company will receive as much as five 188 00:11:26,720 --> 00:11:30,120 Speaker 1: million dollars over three years to pursue treatments for the 189 00:11:30,160 --> 00:11:33,720 Speaker 1: genetic disorder. Editas also report a wider first quarter loss 190 00:11:33,720 --> 00:11:36,600 Speaker 1: and lower revenue than analysts expected based on the Bloomberg survey. 191 00:11:36,920 --> 00:11:40,520 Speaker 1: Even so, the stock climbed as much as twenty and 192 00:11:40,559 --> 00:11:43,199 Speaker 1: a half percent in today's trading and closed with a 193 00:11:43,280 --> 00:11:47,240 Speaker 1: gain of thirteen percent. Thank you very much, Dave Wilson. 194 00:11:47,240 --> 00:11:53,160 Speaker 1: Bloomberg Stocks commis edits medicine based in Cambridge, mass of course, 195 00:11:53,400 --> 00:11:57,800 Speaker 1: home to Bloomberg. You're listening to Taking Stock. I'm pim Fox, 196 00:11:57,840 --> 00:12:00,600 Speaker 1: my co host Kathleen Hayes, and this is brig Radio 197 00:12:05,720 --> 00:12:08,120 Speaker 1: Blue Brick. Taking Stock is brought to you by SS 198 00:12:08,240 --> 00:12:12,240 Speaker 1: and C more experienced, superior technology, independence and expertise. That's 199 00:12:12,280 --> 00:12:14,800 Speaker 1: how S s and C drives the future of fund administration. 200 00:12:15,320 --> 00:12:18,479 Speaker 1: S S and C. They are the future of fund administration.