Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: This is the closing bell on the stock movers report
Speaker 2: the company's making moves at the close of US trading,
Speaker 2: with Carol Masser, Tim Stenoveck, Romain Bostik, and Katie Greifel.
Speaker 3: All Right, guys, let's go do some individual gainers, if
Speaker 3: we may marvel that is your number one gainer in
Speaker 3: the Nasdaq one hundred, a gain of about eighteen percent
Speaker 3: for the Friday trade, chip maker, saying it's year over
Speaker 3: year revenue growth rate we'll accelerate each quarter throughout fiscal
Speaker 3: twenty twenty seven, so definitely seen as a bullish sign,
Speaker 3: but also a bush target that shows soaring demand from
Speaker 3: data center related application, So some enthusiasm on that and
Speaker 3: what has been some nervousness certainly with the AI spend trade. Hey,
Speaker 3: let's go on over to Costco. This was a top
Speaker 3: performer a little bit earlier in the Nasdaq one hundred,
Speaker 3: but still finishing the day with a game of a
Speaker 3: one point six percent. Quarterly profit rose more than expected
Speaker 3: membership fees something that was being watched closely, totaling one
Speaker 3: point thirty six billion during the quarter, beating expectations and
Speaker 3: The company says it's gained market share as it's bulk
Speaker 3: sizes and unique selection of goods draw in shoppers looking
Speaker 3: for value. I also heard something about selling cakes or
Speaker 3: something that apparently that is something of interest.
Speaker 1: So anyways, cakes sold cakes.
Speaker 3: I guess it's a strategy going forward.
Speaker 4: I don't know.
Speaker 3: I mean, who doesn't love a cake. Let's go on
Speaker 3: over to Boeing up about four percent. Number two gainer,
Speaker 3: I know, no segue there, Number two gainer in the
Speaker 3: S and P five hundred. Boeing closing in on a
Speaker 3: five hundred.
Speaker 5: Grede delivery Carol.
Speaker 3: That's the cake delivery on a plane on a Boeing. Wow,
Speaker 3: no moss grown over there? Well done, well said, He's always.
Speaker 4: Here for me.
Speaker 3: Boeing closing in on a five hundred aircraft order for
Speaker 3: seven thirty seven Max Decks to be unveiled when President
Speaker 3: Trump travels to Beijing for his first state visit to
Speaker 3: China SITS twenty seventeen. Two sides are said to be
Speaker 3: in talks for a wide body sale that includes about
Speaker 3: one hundred and Boeing seven eighty seven Dreamliners and Triple
Speaker 3: seven ex Jets, which would likely be announced at a
Speaker 3: later great date. If this materializes, keep in mind this
Speaker 3: is not a confirmation. It would capy years of negotiations
Speaker 3: between Boeing and China's airlines and a lengthy and a
Speaker 3: lengthy order drought from the world's second biggest aviation market.
Speaker 3: This is big news. If this ultimately happens, it's a
Speaker 3: huge order and it's a huge market for Boeing. And
Speaker 3: as we know, China is also working on developing its
Speaker 3: own jet market.
Speaker 5: Yeah the Comac Yeah, okay, this guy loves me to
Speaker 5: compete with the seven thirty seven. Let's talk about some
Speaker 5: alternative asset managers, including Blackrock, that took a hit today,
Speaker 5: down seven point seven percent. This after a series of
Speaker 5: negative private credit eventstered fresh concerns over the health of
Speaker 5: the industry. For Blackrocks, specifically, it was about the company,
Speaker 5: the asset manager, curbing withdrawals from its twenty six billion
Speaker 5: dollar HPS corporate Lending fund after client requests for redemption
Speaker 5: spiked at CAPRI purchases at five percent. It just adds
Speaker 5: to the worries that have been plaguing the private credit industry,
Speaker 5: and we saw other alternative asset managers fall today as well,
Speaker 5: taking a look at airlines because they have been under
Speaker 5: serious pressure in recent days over the war in Iran.
Speaker 5: We saw travel stocks take a hit online travel agencies
Speaker 5: are sliding to oil pricing prices higher. That's a bad
Speaker 5: thing for all of these companies. Also add on that
Speaker 5: jobs report that we got earlier today, and that could
Speaker 5: mean a consumer that is less willing to spend on
Speaker 5: stuff like this. The airlines industry and actually airline stocks
Speaker 5: down a little more than twenty percent from the highs
Speaker 5: just about a month ago. This is the S and
Speaker 5: P fived S ANDP fifteen hundred Airlines index. That's down
Speaker 5: twenty two percent from February six, so that's officially in
Speaker 5: a bear market. We also did get a note from
Speaker 5: an analyst over at Deutsche Bank that said that the
Speaker 5: price of jet fuel and oil the spread between those
Speaker 5: during the war, poses an existential threat to US airlines.
Speaker 5: So keep an eye on airlines as we do enter
Speaker 5: a bear market for that industry. And finally, Chairs of
Speaker 5: Gap taking a hit today, falling more than fourteen percent,
Speaker 5: this after the company reported fourth quarter sales and profit
Speaker 5: that came in slightly below expectations. Old Navy and Athleta
Speaker 5: missed comp sales estimates gap and been at a Republic
Speaker 5: did beat the company though, forecasting a better profit than
Speaker 5: expected for their current year and sales within estimates.
Speaker 1: Yeah, and just how honorable mention too. I just want
Speaker 1: to just point out the chip stocks here. We did
Speaker 1: see the Philadelphia Semiconductor Index close down about four percent,
Speaker 1: and of course a big drag lower here because of
Speaker 1: a lot of those issues with apparently whether that AI
Speaker 1: spend is continuing a great scoop earlier today, that Oracle
Speaker 1: and Open Ai apparently dialing back their plans for that Stargate,
Speaker 1: that big Stargate data center down there in Texas. Meanwhile,
Speaker 1: we take a look at the yield space, and it
Speaker 1: was quite an interesting week. In fact, the biggest weekly
Speaker 1: sell off that we've seen in benchmark treasury yields since
Speaker 1: at least all last April amid all of the Liberation
Speaker 1: Day ructions. Those are the numbers on a daily basis,
Speaker 1: and the reason why they're basically flat is because there
Speaker 1: was really the push pull because between the concerns about
Speaker 1: what's going on in the Middle East and concerns about
Speaker 1: of course what's going on with that Job's report. Of course,
Speaker 1: the job support that would actually suggest the potential for
Speaker 1: a cutting rates, But of course the inflationary pressures and
Speaker 1: what's going on in Iran actually maybe potentially making the
Speaker 1: case to actually hike rates overall or higher on a
Speaker 1: weekly basis on your two year by about eighteen points
Speaker 1: on your tenure by about twenty points from where we
Speaker 1: were just last Friday.
Speaker 3: Yeah, I think we're at this interesting moment in time,
Speaker 3: and I think everybody says I was reading a Bloomberg column.
Speaker 3: You know, we have to get an idea of how
Speaker 3: long this war's going to last, because that's going to
Speaker 3: certainly determine the impact. I mean, we're looking at what
Speaker 3: WTI crewed up almost forty percent this week alone. So
Speaker 3: you know, you think about the jobs report this morning
Speaker 3: that was weaker than forecast. You've got inflationary pressures that
Speaker 3: are still out there, you know, dare we say stagflation,
Speaker 3: and you just think about the predicament this presents not
Speaker 3: only for the US economy, but the global economy and
Speaker 3: for central bankers around the world.
Speaker 5: We spoke to ellen Wald of Transversal earlier. She wrote
Speaker 5: the book on Saudi Arabia and at Ramco Bailey and
Speaker 5: She said, if this crisis, at least from an oil perspective,
Speaker 5: from an energy perspective, doesn't get solved next week, we're
Speaker 5: already on the cusp of a crisis, and we could
Speaker 5: see a full blown crisis, she said, We could see
Speaker 5: hundred and twenty dollars a barrel oil in a very
Speaker 5: short period of time if this doesn't get figured out.
Speaker 4: And I have to imagine the knock on effect, Like
Speaker 4: we've been talking, what does that ultimately mean for inflation?
Speaker 4: What does that mean for consumers? And certainly when you
Speaker 4: see a VIX that's getting back towards thirty and you
Speaker 4: see investors selling down companies exposed to the AI bubble,
Speaker 4: what does that mean?
Speaker 1: But also on the energy front too. I mean, we
Speaker 1: talk about that ninety eight dollars a barrel ninety one,
Speaker 1: Carol Masser. We were at eighty one yesterday and we
Speaker 1: were like, what at like sixty just a little while ago.
Speaker 1: But it's already fed through. I mean, if you look
Speaker 1: at on your Bloomberg terminal triple A gas prices on
Speaker 1: a weekly basis, they're up by about ten to eleven percent.
Speaker 1: Here that's the price that you see at the pump
Speaker 1: the average price, we should point out, but it's actually
Speaker 1: now up six straight sessions that had already been rising
Speaker 1: prior to that. In fact, it had actually been up
Speaker 1: for about four straight weeks prior to this week here,
Speaker 1: and that starts to become the real impact, you know,
Speaker 1: the potential economic drag that I think a lot of
Speaker 1: us were hoping we would avoid. That's why you had
Speaker 1: folks like Muhammadalarian talking about stagflationary winds blowing. And I
Speaker 1: don't know if you saw all the FED speakers that
Speaker 1: Mike had on today. I mean, look, it's front and center,
Speaker 1: and when's that meeting. That's like a week and a half.
Speaker 1: But they got to meet and start talking about this stuff.
Speaker 3: Yeah, exactly right, And so what do they do? So,
Speaker 3: you know, with inflationary pressure still above the Fed's target,
Speaker 3: it continues to be that way, you've got to kind
Speaker 3: of assume that the FED is going to be very
Speaker 3: careful and certainly not do anything. Certainly not a cut,
Speaker 3: but certainly you know, have to be on their inflation watch,
Speaker 3: right Cole exactly?
Speaker 4: Yeah?
Speaker 1: What has kel? She said? Are they going to pay
Speaker 1: out if I win?
Speaker 5: It's a good question.
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