1 00:00:02,520 --> 00:00:09,040 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, the. 2 00:00:08,880 --> 00:00:13,160 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:17,840 Speaker 2: the stock market. Harnessing the power of Bloomberg Data. Let's 4 00:00:17,840 --> 00:00:19,640 Speaker 2: say the action is under the hood. 5 00:00:19,680 --> 00:00:22,159 Speaker 3: We can do that with the Secova processor reporter for 6 00:00:22,200 --> 00:00:24,480 Speaker 3: Bloomberg News. She joins us live here in our Bloomberg 7 00:00:24,480 --> 00:00:25,400 Speaker 3: and Arctor Broker studio. 8 00:00:25,440 --> 00:00:26,560 Speaker 2: Thenita, what are you looking at today? 9 00:00:26,800 --> 00:00:29,880 Speaker 1: Let's start with the United States Steel We saw a 10 00:00:29,960 --> 00:00:33,279 Speaker 1: drop as much as ten percent earlier today, now some 11 00:00:33,360 --> 00:00:34,840 Speaker 1: of the losses are fading. 12 00:00:34,880 --> 00:00:36,479 Speaker 3: Still a very bad day for the company. 13 00:00:36,680 --> 00:00:39,760 Speaker 1: It comes after President Trump said he doesn't want to 14 00:00:39,800 --> 00:00:43,200 Speaker 1: see the steelmaker owned by a Japanese company. Of course, 15 00:00:43,240 --> 00:00:46,400 Speaker 1: there has been so much back and forth with the 16 00:00:46,479 --> 00:00:51,640 Speaker 1: supposed acquisition of Nippon Steele. President Trump has repeatedly said 17 00:00:51,960 --> 00:00:56,880 Speaker 1: no to wholly owning the company, but he has been 18 00:00:56,960 --> 00:00:58,440 Speaker 1: open to investments in the past. 19 00:00:58,840 --> 00:01:01,000 Speaker 3: What we now is that. 20 00:01:01,760 --> 00:01:05,600 Speaker 1: He pointed to the producer's rising still orders as evidence 21 00:01:05,720 --> 00:01:09,200 Speaker 1: does it doesn't need any investment right now. He actually 22 00:01:09,240 --> 00:01:12,039 Speaker 1: said if we go back to US two from ninety 23 00:01:12,080 --> 00:01:13,440 Speaker 1: years ago, it was incredible. 24 00:01:13,840 --> 00:01:17,400 Speaker 3: So there is a lot of optimism for the orders there. 25 00:01:17,440 --> 00:01:21,880 Speaker 1: We saw sixteen percent jump earlier when things seem to 26 00:01:21,880 --> 00:01:23,840 Speaker 1: be moving in terms of that acquisitions. 27 00:01:23,880 --> 00:01:26,720 Speaker 3: But now we're seeing a big drop here. Today the 28 00:01:26,760 --> 00:01:27,880 Speaker 3: stock is okay. 29 00:01:27,959 --> 00:01:29,520 Speaker 4: Yeah, and there's a lot of debate on like we'll 30 00:01:29,560 --> 00:01:31,440 Speaker 4: see you still be okay. I mean a lot of 31 00:01:31,440 --> 00:01:34,160 Speaker 4: analysts like, yeah, oh, you are right. At the end 32 00:01:34,160 --> 00:01:36,319 Speaker 4: of the day, let's go to Nike. Oh my gosh, 33 00:01:36,400 --> 00:01:38,399 Speaker 4: the whippiness of these shares is crazy. You get the 34 00:01:38,400 --> 00:01:42,279 Speaker 4: stock now down by ten percent despite this terror pause. 35 00:01:42,560 --> 00:01:45,319 Speaker 1: Yeah, every morning I go and look at Nike because 36 00:01:45,319 --> 00:01:47,600 Speaker 1: I think for a point, yeah, I think it's the 37 00:01:47,640 --> 00:01:51,600 Speaker 1: proxy of where the sentiment on taris is. We saw 38 00:01:51,640 --> 00:01:54,920 Speaker 1: a massive gain yesterday, big drop today, As we say, 39 00:01:54,960 --> 00:01:57,400 Speaker 1: it's kind of become a symbol of that corporate fallout 40 00:01:57,920 --> 00:02:01,680 Speaker 1: from from tariffs. Yesterday, we obviously had the polls for 41 00:02:01,760 --> 00:02:05,680 Speaker 1: ninety days. We saw a massive rally in many retail brands. 42 00:02:05,720 --> 00:02:09,640 Speaker 1: We saw Lula Lemon, we saw Walmart. But now as 43 00:02:09,800 --> 00:02:13,200 Speaker 1: those news are setting and as people are worried about recessions, 44 00:02:13,200 --> 00:02:16,200 Speaker 1: as people are worried that's still some of the TIFFs 45 00:02:16,320 --> 00:02:19,880 Speaker 1: are on the table, Nike is really suffering. Of course, 46 00:02:19,919 --> 00:02:23,240 Speaker 1: it's a point chain is being specifically threatened. We have 47 00:02:23,320 --> 00:02:26,560 Speaker 1: some stats that about half of their production is actually 48 00:02:26,600 --> 00:02:28,800 Speaker 1: coming from Vietnam, which is one of the countries that 49 00:02:28,919 --> 00:02:31,800 Speaker 1: US has been actively negotiating with, and it seems like 50 00:02:32,080 --> 00:02:36,440 Speaker 1: things have looked better. But obviously over the past thirty years, 51 00:02:36,440 --> 00:02:38,680 Speaker 1: we have a great story on the terminal that Nike 52 00:02:38,840 --> 00:02:41,960 Speaker 1: has invested billions of doors in production in Vietnam, and 53 00:02:41,960 --> 00:02:45,400 Speaker 1: now obviously that's being threatened. The stock is down nearly 54 00:02:45,480 --> 00:02:49,399 Speaker 1: thirty percent year to date. Even yesterday's rally couldn't lift 55 00:02:49,400 --> 00:02:51,880 Speaker 1: it up enough to improve that. 56 00:02:52,320 --> 00:02:56,639 Speaker 3: Constellation brands booze, what's happening, Yeah, but it's up on today. 57 00:02:57,280 --> 00:03:01,280 Speaker 1: It's coming over the news of down being guidance because 58 00:03:01,280 --> 00:03:02,120 Speaker 1: of the tires. 59 00:03:01,880 --> 00:03:04,519 Speaker 3: Of course, analysts are even saying. 60 00:03:04,280 --> 00:03:07,920 Speaker 1: That their surprise they offer guide us at all, and 61 00:03:08,000 --> 00:03:11,639 Speaker 1: what they offer is kind of optimistic from what we're 62 00:03:11,639 --> 00:03:12,120 Speaker 1: seeing today. 63 00:03:12,240 --> 00:03:14,720 Speaker 3: Yet we're up on the news. 64 00:03:14,760 --> 00:03:18,320 Speaker 1: Of course, this comes like an overall climate for drinking. 65 00:03:18,440 --> 00:03:22,160 Speaker 1: As you know, alcohol companies haven't been doing so well 66 00:03:22,200 --> 00:03:26,680 Speaker 1: as younger generations have been opting for non alcoholic drinks 67 00:03:26,800 --> 00:03:30,840 Speaker 1: and kind of healthier alternative have been more health conscious, 68 00:03:30,880 --> 00:03:34,000 Speaker 1: so there has been this big theme of people shrugging 69 00:03:34,040 --> 00:03:38,120 Speaker 1: those brands. Of course, the big issue with Constellation is 70 00:03:38,560 --> 00:03:43,920 Speaker 1: that it's exporting, it's importing popular Mexican beers, and with 71 00:03:44,040 --> 00:03:46,280 Speaker 1: the trade war that can obviously we hit very hard. 72 00:03:47,520 --> 00:03:51,640 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 73 00:03:51,720 --> 00:03:54,480 Speaker 2: us throughout the day for the latest roundup of companies 74 00:03:54,520 --> 00:03:57,600 Speaker 2: making news on Wall Street and for the latest market 75 00:03:57,600 --> 00:04:02,000 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 76 00:04:02,040 --> 00:04:05,280 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 77 00:04:05,320 --> 00:04:06,800 Speaker 2: the Bloomberg Business app.