1 00:00:02,520 --> 00:00:10,440 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast, 2 00:00:10,800 --> 00:00:14,040 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:14,240 --> 00:00:18,880 Speaker 1: harnessing the power of Bloomberg data at Stock Mover's time, 4 00:00:19,040 --> 00:00:21,119 Speaker 1: lots of movies. Looking at the banks. Who do we 5 00:00:21,160 --> 00:00:24,599 Speaker 1: go to? She has a Christmas Club account at Goldman Sachs. 6 00:00:24,640 --> 00:00:26,439 Speaker 1: Here's Lisa mitasts I still have those. 7 00:00:26,520 --> 00:00:29,480 Speaker 2: Yeah, good orning. Let's start yeat with a big day 8 00:00:29,480 --> 00:00:31,480 Speaker 2: for Goldman Sachs. IT shares have been up more than 9 00:00:31,520 --> 00:00:35,040 Speaker 2: one percent. Posted the best stock trading quarter in Wall 10 00:00:35,040 --> 00:00:37,640 Speaker 2: Street history, So on your big day. Yeah, big day 11 00:00:37,640 --> 00:00:41,159 Speaker 2: for them. Equity trading revenue four point three n billion 12 00:00:41,200 --> 00:00:44,000 Speaker 2: for the second quarter, and that's about six hundred million 13 00:00:44,120 --> 00:00:46,760 Speaker 2: more than what analysts were respecting, So that shows you 14 00:00:46,800 --> 00:00:50,279 Speaker 2: the perspective of it. It also pushed profit above expectations. 15 00:00:50,440 --> 00:00:53,080 Speaker 2: So yo to what CEO David Solomon said, and he 16 00:00:53,120 --> 00:00:57,160 Speaker 2: said the economy markets generally responding positively to the evolving 17 00:00:57,160 --> 00:01:00,120 Speaker 2: policy environment. But he did say they remain focused on 18 00:01:00,240 --> 00:01:04,600 Speaker 2: risk management. Total management fees and asset wealth management rose 19 00:01:04,640 --> 00:01:07,640 Speaker 2: eleven percent. That was compared to a year earlier. The 20 00:01:07,680 --> 00:01:10,199 Speaker 2: only thing net revenue did dip slightly to three point 21 00:01:10,240 --> 00:01:13,120 Speaker 2: seven to eight billion, but overall a great day for 22 00:01:13,240 --> 00:01:17,400 Speaker 2: Goldman Sachs. From there we go to Morgan Stanley ticker MS. 23 00:01:17,400 --> 00:01:19,440 Speaker 2: The shares have been down, they've been down as much 24 00:01:19,480 --> 00:01:22,840 Speaker 2: as one percent, so stock traders still. They posted their 25 00:01:22,840 --> 00:01:25,400 Speaker 2: best second quarter on record three point seven to two 26 00:01:25,520 --> 00:01:28,640 Speaker 2: billion in equity trading revenue. That was a twenty three 27 00:01:28,680 --> 00:01:31,919 Speaker 2: percent jump from a year ago. Wealth Management Union topped 28 00:01:32,040 --> 00:01:35,760 Speaker 2: expectations to posted seven point seven to six billion in 29 00:01:35,800 --> 00:01:39,959 Speaker 2: net revenue. Morgan Stanley's investment banking fees did fall five 30 00:01:40,000 --> 00:01:41,920 Speaker 2: percent to one point five to four billion. That was 31 00:01:41,920 --> 00:01:45,480 Speaker 2: a smaller drop than analysts expected, but it shares still 32 00:01:45,520 --> 00:01:48,400 Speaker 2: lower this morning before the bell. Then from there we 33 00:01:48,440 --> 00:01:51,880 Speaker 2: go to Bank of America ticker BAC. It shares have 34 00:01:51,880 --> 00:01:55,600 Speaker 2: been up more than one percent. Record second corner revenue 35 00:01:55,600 --> 00:01:59,520 Speaker 2: from fixed income currencies commodities trading jump nineteen percent to 36 00:01:59,560 --> 00:02:03,320 Speaker 2: three point two five billion. Equity trading rose nine point 37 00:02:03,360 --> 00:02:05,840 Speaker 2: six percent to two point one to three billion. So 38 00:02:05,880 --> 00:02:09,640 Speaker 2: those both topped expectations. And then what did CEO Brian 39 00:02:09,760 --> 00:02:13,000 Speaker 2: moynihan said. What he said, consumers, they're resilient. That was 40 00:02:13,040 --> 00:02:16,280 Speaker 2: what people like, healthy spending asset quality. He also said 41 00:02:16,280 --> 00:02:20,080 Speaker 2: commercial borrower utilization rates rose. He also said something too, 42 00:02:20,120 --> 00:02:22,400 Speaker 2: He added that the good momentum in our markets business. 43 00:02:22,440 --> 00:02:25,000 Speaker 2: He added that as well, and then we take you 44 00:02:25,040 --> 00:02:27,400 Speaker 2: from banks, we go to chips and we have to 45 00:02:27,440 --> 00:02:31,440 Speaker 2: go to Dutch equipment maker, chip equipment maker. ASML. Their 46 00:02:31,560 --> 00:02:33,640 Speaker 2: share really taking a hits. Here's a been down as 47 00:02:33,680 --> 00:02:37,400 Speaker 2: much as seven percent in Amsterdam. The CEO kind of 48 00:02:37,440 --> 00:02:41,600 Speaker 2: walked back the company's sales forecast, pointed to trade disputes, 49 00:02:41,680 --> 00:02:46,120 Speaker 2: global tensions, said clients delaying commitments until they have a 50 00:02:46,120 --> 00:02:49,280 Speaker 2: little bit more clarity on tariffs. But the reason why, 51 00:02:49,280 --> 00:02:52,000 Speaker 2: which I found interesting, is why ASML is so important 52 00:02:52,040 --> 00:02:55,839 Speaker 2: because they're the only company that makes these extreme ultra 53 00:02:55,919 --> 00:03:00,320 Speaker 2: violey lithography machines that produce these chips of power aid. 54 00:03:00,400 --> 00:03:02,720 Speaker 1: My book of the summer last year was Chip War. 55 00:03:02,760 --> 00:03:05,080 Speaker 2: It's actually two three years old. It's a brilliant book 56 00:03:05,120 --> 00:03:08,160 Speaker 2: out of Toughs in Boston. It's just it's a history 57 00:03:08,200 --> 00:03:10,160 Speaker 2: of it. And one are the unique features of the 58 00:03:10,160 --> 00:03:14,840 Speaker 2: book is three chapters on ASML, and there's only one's 59 00:03:15,440 --> 00:03:18,560 Speaker 2: I didn't they do no one else does right in 60 00:03:18,600 --> 00:03:19,200 Speaker 2: the Netherlands. 61 00:03:19,280 --> 00:03:22,480 Speaker 1: Yeah, they're just they're it. Are you done? 62 00:03:22,720 --> 00:03:23,080 Speaker 2: Videos? 63 00:03:23,120 --> 00:03:23,480 Speaker 1: Chips? 64 00:03:23,840 --> 00:03:27,160 Speaker 2: There you go. There are some restrictions to sales in China, 65 00:03:27,200 --> 00:03:29,760 Speaker 2: which is their second biggest market last quarter, so that's 66 00:03:29,800 --> 00:03:31,760 Speaker 2: a little bit of a headwind too, but we'll see 67 00:03:31,800 --> 00:03:34,160 Speaker 2: because we did have that positive news out of Washington 68 00:03:34,200 --> 00:03:35,600 Speaker 2: for the AI chip makers this week. 69 00:03:36,840 --> 00:03:40,960 Speaker 1: The Stock Movers podcast from Bloomberg Radio. Check back with 70 00:03:41,040 --> 00:03:43,800 Speaker 1: us throughout the day for the latest roundup of companies 71 00:03:43,840 --> 00:03:46,880 Speaker 1: making news on Wall Street and for the latest market 72 00:03:46,920 --> 00:03:51,320 Speaker 1: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 73 00:03:51,320 --> 00:03:54,600 Speaker 1: Bloomberg dot com, and on Applecarplay and Android Auto with 74 00:03:54,640 --> 00:03:56,120 Speaker 1: the Bloomberg Business app.