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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

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Speaker 2: This is the closing bell on this stock movers report

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Speaker 2: the company's making moves at the close of US trading

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Speaker 2: with Carol Masser, Tim Stenovak, Romain Bostik, and Katie Greifeld.

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Speaker 1: It's a global simulcast. Carol Massler and Tim Stendek join us. Now,

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Speaker 1: welcome to our audiences across all of our Bloomberg platforms.

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Speaker 1: On an incredibly volatile day in financial markets. Carol Masser,

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Speaker 1: it's not just equities, it's everything in between. Here a

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Speaker 1: market that continues to be bounced around by the situation

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Speaker 1: in the Middle East.

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Speaker 3: Yeah, I mean I had so many names that are

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Speaker 3: on my gainer's list. I'm kind of crossing fingers. But

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Speaker 3: the unbelievable swings that we've seen, and we've so many

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Speaker 3: questions going into the weekend. I mean, do we see

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Speaker 3: the administration the President just talked about it in terms

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Speaker 3: of boots on the ground, does that potentially happen? Still?

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Speaker 3: Do we see carg Island so incredibly important when it

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Speaker 3: comes to exports out of the region, and so does

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Speaker 3: that happen? And just more disruption to the global energy trade.

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Speaker 3: So I think Yeah, you're definitely seeing a risk off

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Speaker 3: trade here going into the weekend.

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Speaker 4: But a balance as you see there from the S

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Speaker 4: and P as you mentioned earlier, Carol off its lows.

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Speaker 4: It was down as much as two percent earlier. But

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Speaker 4: as Carol mentioned, energy, certainly the focus WTI at ninety seven,

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Speaker 4: so off its highest levels of the day. Same with WTI,

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Speaker 4: are same with brand Rather's up as highest one hundred

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Speaker 4: and thirteen dollars a barrel, now up to one hundred

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Speaker 4: and twelve dollars a barrel. Still both of those up

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Speaker 4: more than two percent.

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Speaker 5: And as usual, I'm taking a look at where you

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Speaker 5: can find a haven asset right now. You're certainly not

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Speaker 5: going to find it in the bond market, You're not

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Speaker 5: going to find it in gold. But then you take

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Speaker 5: a look at what's going on in the dollar, the

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Speaker 5: Bloomber Dollar Index actually managing to put together a gain

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Speaker 5: right now, higher by about half a percent or so

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Speaker 5: on a very very risk off day.

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Speaker 1: A very risk off day here, as you parse all

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Speaker 1: of the action that we saw on the day and

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Speaker 1: on the week and maybe try to make some sense

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Speaker 1: of what to expect when you come into work on Monday,

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Speaker 1: Jones Industrial average is going to lose roughly about four

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Speaker 1: hundred points on the day, or about nine tenths of

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Speaker 1: one percent. The S and P it's down about ninety

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Speaker 1: nine to one hundred points or one and a half percent,

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Speaker 1: the NASDA composite down to more than four hundred points

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Speaker 1: or two percent even, and the Russell two thousand losing

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Speaker 1: about fifty six fifty seven points or about two point

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Speaker 1: three percent. I do just want to point out here, Carol,

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Speaker 1: all of the major indices now are closing either at

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Speaker 1: or below. The are two hundred day moving averages, and

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Speaker 1: the S and P five hundred doing something it hasn't

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Speaker 1: done since April of last year, and that's closed below

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Speaker 1: that thirty of that fourteen day RSI a technical indicator

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Speaker 1: of now over sold conditions.

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Speaker 3: Yeah, that relative strength index, right, that technicians certainly watch.

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Speaker 3: But do we get a bounce or do we continue

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Speaker 3: to kind of trend even lower from here? S and

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Speaker 3: P five hundred, guys, So as remain laid out all

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Speaker 3: the numbers, you're not going to be surprised. Three hundred

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Speaker 3: and eighty nine names to the downside on this Friday,

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Speaker 3: one hundred and fourteen actually gaining ground some decent rallies, Katie.

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Speaker 3: So it's always a reminder that there are names that

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Speaker 3: stand out.

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Speaker 5: Yes, certainly when you take a look at the sector

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Speaker 5: level as well as measured by the circle, not a

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Speaker 5: lot of green, but two sectors managing to finish in

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Speaker 5: positive territory. That is financials and that is energy just

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Speaker 5: barely but still above the line. Here though, nine sectors

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Speaker 5: in the red in terms of what your biggest losers were.

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Speaker 5: Utilities down by more than four percent, real estate off

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Speaker 5: by more than three percent, and tech as a sector

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Speaker 5: off by more than two percent.

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Speaker 3: Carol, all right, so this is so indicative of that

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Speaker 3: kind of day that was here. Remain you talked about

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Speaker 3: the swings, the volatility.

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Speaker 1: I'm surprise you found gainers.

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Speaker 2: I am too.

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Speaker 3: Well, check this out. Listen to this fed X. Yeah,

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Speaker 3: it was up twenty seven percent, guys at its highs today. Yeah,

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Speaker 3: and we're finishing with just a gain of about eight

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Speaker 3: tens of even percent. Made it, yeah, barely made it.

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Speaker 3: And the company we know the story right, raising its

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Speaker 3: full year profit forecast. We saw the stack up the

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Speaker 3: most in ten months before we kind of pulled off

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Speaker 3: those highs of the seton the company talking about restructuring

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Speaker 3: its delivery network, getting traction. A lot of stuff going on.

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Speaker 3: It also says it does not expect the war in

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Speaker 3: the Middle East to have a direct material effect on

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Speaker 3: its business, but the broader consequences, including higher energy prices

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Speaker 3: volatile shipping patterns, are adversely affecting the global economy.

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Speaker 1: No, come on in, I just want to say, was

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Speaker 1: up about seven to eight percent? You said twenty seven percent?

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Speaker 3: Was?

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Speaker 5: Oh?

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Speaker 3: I'm sorry, yeah, I was likery. Sorry, I started am sorry,

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Speaker 3: I had my.

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Speaker 1: Screen kind of kicking on. I hate correcting you, but no,

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Speaker 1: you love correcting me.

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Speaker 3: Seven point six percent. I'm sorry. I thought that was

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Speaker 3: a little crazy too, but I had my screen. You know,

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Speaker 3: I only have a little small screen to work with,

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Speaker 3: and I've got a lot of things going on.

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Speaker 1: Yes, I think all our screens are with the same size,

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Speaker 1: are they not?

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Speaker 5: Or how many?

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Speaker 2: How many?

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Speaker 3: Do you only have one paddle in front of you?

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Speaker 5: Just one? We got to get you another screen. We're

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Speaker 5: going to work on.

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Speaker 3: That, all right. I can get the screen too, all right, TVD.

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Speaker 3: I'm just going to move on like I don't know

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Speaker 3: if anything can save me now, all right, arm holding,

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Speaker 3: Let's see if I get this one right, because we

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Speaker 3: did see this one holding on to its g of

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Speaker 3: about two percent here at the clothes. It too, though

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Speaker 3: was a lot higher in today's session. In fact, it

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Speaker 3: too was up about seven point eight percent at its

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Speaker 3: highs today. Okay, so armholding was a top gainer in

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Speaker 3: the major averages HSBC upgrading this one to a Wall

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Speaker 3: Street high price target, raising it to a street high

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Speaker 3: two hundred and five from ninety dollars. Playing a little

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Speaker 3: ketchup there and says ARM is now firmly in the

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Speaker 3: middle of a transition from being a smartphone dependent semi

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Speaker 3: IP play into a major AI server CPU beneficiary that

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Speaker 3: remains undervalued by the market. The analyst frankly writing that,

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Speaker 3: and then just quickly, I want to go to Dell,

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Speaker 3: del to that one surging more than eight percent earlier

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Speaker 3: in the session, holding on to a gain here at

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Speaker 3: the close just about half a percent. And this one

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Speaker 3: really spiked a lot out of the gate, was a

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Speaker 3: top gainer in the SNP and basically winning on super

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Speaker 3: Micro's woes. Dell is a chief competitor to super Micro.

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Speaker 3: So the super Micro story I'm going to pass actually

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Speaker 3: over to TAM because it just gained Dell as the

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Speaker 3: result of what was I'm glad.

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Speaker 4: I'm glad you ended with Dell because I want to

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Speaker 4: You're welcome. I'm just going to start with super Micro.

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Speaker 4: But I messed it up. It's okay, I'm going to

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Speaker 4: go to super Micro. Now down more than thirty three

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Speaker 4: percent today, which is pretty wild. This is the worst

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Speaker 4: day going back to October twenty eighteen, that's when it

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Speaker 4: fell more than forty percent in a single day. The

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Speaker 4: US did charge the company's co founder, Yeshai on Wali

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Speaker 4: Leah with illegally diverting Nvidia powered servers to China in

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Speaker 4: violation of US export controls. The chargings chargers said charges

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Speaker 4: set or prosecutor said that Leon two others allegedly sold

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Speaker 4: the hardware to a Southeast Asian company and coordinated it

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Speaker 4: for its ultimate shipment to Chinese customers, and they made

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Speaker 4: efforts to evade scrutiny. Super Micro, for its part, said

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Speaker 4: it's cooperating with US authorities and it's put Leon another defender,

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Speaker 4: on administrative leave, and the company stated that the alleged

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Speaker 4: conduct is a contravention of the company's policy.

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Speaker 1: The story is fascinating also because of how fast it rose.

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Speaker 1: And remember when I got put into the SMP back then,

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Speaker 1: what was it, twenty twenty four, there were a lot

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Speaker 1: of people saying maybe that was premature, And now you

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Speaker 1: have this whole investigation here raising a lot of questions

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Speaker 1: here about what the future of the stock can be.

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Speaker 4: Yeah, we had a great chat with Bob van Voris

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Speaker 4: down at the courthouse earlier today and and he laid

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Speaker 4: out the potential implications for the individuals who've been charged.

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Speaker 4: And that's some serious shell time there. So continue, We're

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Speaker 4: going to continue following this story. I also want to

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Speaker 4: check on the Bloomberg Mag seven Total Return Index, because

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Speaker 4: every single member of the Mag seven was lower today.

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Speaker 4: This fell more than two percent as a whole. But

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Speaker 4: as I mentioned, this was what really pulled the market

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Speaker 4: lower today, the S and P five hundred and the

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Speaker 4: Nasdaq one hundred. Also, this is an interesting story. Swarmer.

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Speaker 4: It's a tiny drone software company, Swarmy Swarmer. Oh, just checking,

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Speaker 4: fell thirty percent today. This stock soared close to one

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Speaker 4: thousand percent in the first three trading sessions after its IPO.

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Speaker 4: Shows how the Warren Iron has reshaped the outlook for

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Speaker 4: the defense industry. Though. Swings like this echo what was

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Speaker 4: associated back in the day with memestocks for remain you

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Speaker 4: remember those, right.

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Speaker 1: Yeah, absolutely, I mean I was paying attention to this

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Speaker 1: earlier this week, and you know, I mean, you know, look,

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Speaker 1: I mean long term, I guess you can make a

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Speaker 1: bet here that you know, this is the future of warfare,

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Speaker 1: these sort of smaller, cheaper drones. But you know, like

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Speaker 1: I said, to get that kind of pop coming off

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Speaker 1: of that IPO seemed well, a little stretched, to say the.

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Speaker 4: Least, fross. Some might say frothy.

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Speaker 1: Some might say I would not say that.

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Speaker 4: I'm not saying it.

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Speaker 1: Yeah, I'm not saying that either. I do want to

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Speaker 1: just turn real quickly to what we saw in the

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Speaker 1: yield space here. The sell off continued in a huge

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Speaker 1: way here on the short end of the curve. Of course,

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Speaker 1: everyone now pricing out any chance of a FED rate

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Speaker 1: cut this year nine basis points on the day for

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Speaker 1: the two years, but we should just point out for

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Speaker 1: the week we're up something like seventeen basis points here.

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Speaker 1: So this gets to the idea of where investors heads

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Speaker 1: are at when it comes to yields. But really it

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Speaker 1: was a parallel shift not only on the day, but

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Speaker 1: really on the week as well. Your benchmark tenure yield

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Speaker 1: up ten bases ten to eleven base points on the week.

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Speaker 1: Third straight week where we've seen double digits out there

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Speaker 1: on that basis points or I guess what was that.

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Speaker 1: I mean, it's technically not double digits, but you know

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Speaker 1: what I mean, twenty basis points fourteen and then this

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Speaker 1: week now eleven.

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Speaker 5: And it's pretty wild to think just two days ago

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Speaker 5: we had a FED decision, we heard from Jerome Powell,

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Speaker 5: and bond traders thinking has changed so much since then.

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Speaker 5: Now the possibility of a rate cut in twenty twenty

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Speaker 5: six being totally priced out, and as I mentioned, the

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Speaker 5: US dollars seems to have been the big beneficiary of that.

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Speaker 5: I'm taking a look at the CFTC positioning data and

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Speaker 5: you have hedge funds and other speculators actually flipping positive

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Speaker 5: on the dollar for the first time this year. Certainly

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Speaker 5: aside of the times. When it comes to the current

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Speaker 5: thinking around how what's going on in the Middle East

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Speaker 5: with oil prices, how that's going to shape monetary policy.

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Speaker 3: Yeah, I mean it really comes down to timing, right,

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Speaker 3: Like when you know everybody keeps talking about the timeline.

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Speaker 3: You even got that from Fed chair J. Powell, essentially

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Speaker 3: like you can't make predictions, you can't really figure out

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Speaker 3: the outlook until you know when this done. And I

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Speaker 3: think this is going to be an interesting week. And

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Speaker 3: we had a conversation with a guest just talking about

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Speaker 3: potentially the escalation of this war, and I think it

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Speaker 3: just comes down to that.

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Speaker 1: Well, I don't know, Well, you guys, did you get

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Speaker 1: a chance to listen to some of the comments that

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Speaker 1: the President made as you just walk into the helicopter.

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Speaker 1: I mean, it didn't sound like, at least based on

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Speaker 1: what he was saying, that we're at the end of

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Speaker 1: this any time soon. I mean, he says, okay, we won.

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Speaker 1: But then of course when I asked about whether it

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Speaker 1: be a ceasefires that it's off the table. As far

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Speaker 1: as the straight of horror moves, he just seems to say, well,

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Speaker 1: it'll open at some point. Well, which is not necessarily

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Speaker 1: what the market want to see.

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Speaker 3: Why are we asking for two hundred billion dollars more

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Speaker 3: from Congress if the war is coming to an end

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Speaker 3: or if we're in a good position.

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