Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: I'm Jim Staneveek along with Carol Master. Let's take a
Speaker 3: look at some stocks on the move today. We've got
Speaker 3: normal Inta with us from Bloomberg Television. She's markets reporter
Speaker 3: for Bloomberg TV.
Speaker 1: We got to start with Micron because this is certainly
Speaker 1: one that has caught our attention here in the aftermarket,
Speaker 1: and that was a market focus.
Speaker 4: I feel like all week.
Speaker 1: Leading up to today, and we did see a big
Speaker 1: move in the aftermarket.
Speaker 5: A big move that we're seeing the aftermarket. We're seeing
Speaker 5: shares up double digits in the postmarket trade. Now, this
Speaker 5: is the company that delivered a sales forecast that topped estimates,
Speaker 5: and of course we know that the forecasts really shattering
Speaker 5: estimates across Wall Street. As we think about this in
Speaker 5: satiable AI demand, there's been so much demand for artificial intelligence.
Speaker 5: You've been seeing so many companies in the tech space
Speaker 5: making out more and more money as everyone's just trying
Speaker 5: to rush through this artificial intelligence race and seeing who
Speaker 5: ends up on the other side as a winner. And
Speaker 5: certainly you're seeing investors betting on the fact that they
Speaker 5: think that this report from Micron, not only the report
Speaker 5: itself being strong, but just thinking about the forward outlook
Speaker 5: really underscoring a lot of optimism for Wall Street traders.
Speaker 1: Can I just say nasdak MANI, NASZUAK one hundred many
Speaker 1: futures up about one point four percent here in the aftermark.
Speaker 3: But before we get to the Nasdaq trading tomorrow, we
Speaker 3: get to the South Korean market opening later. Great Point,
Speaker 3: and our own Christina Quino writing on the Market's live blog,
Speaker 3: the question is is this enough of a good omen
Speaker 3: for the costspeed. The big question is whether Micron's earning
Speaker 3: surprise and postmarket boost will be enough to ward off
Speaker 3: this week's still drums. Remember we woke up Monday morning
Speaker 3: to a big sell off Monday or too, I don't
Speaker 3: even remember what. I woke up one day this week
Speaker 3: and stocks had sold off in South Korea and it
Speaker 3: was these Memory stocks.
Speaker 4: Yeah, I mean, and videos up about seven tents percent.
Speaker 1: But I do wonder if the market's going to kind
Speaker 1: of separate, you know, certainly be between some of the
Speaker 1: different players, even within the same group.
Speaker 4: So all right, Micron's soaring. Where do you want to
Speaker 4: go next?
Speaker 5: I want to talk about home builders tick her S
Speaker 5: one and five home. The indent was doing pretty well
Speaker 5: looking at the group, climbing about six percent to end
Speaker 5: the day. Now, the biggest gainer in the index was
Speaker 5: KB Home. They did separately report earning, so that's why
Speaker 5: they got a boost. They rose seventeen percent. But while
Speaker 5: we were seeing the reason we were seeing a broad
Speaker 5: based rally is because of the fact that Congress approved
Speaker 5: a broad housing package aimed at lowering housing the cost
Speaker 5: of housing, and we also deceive following treasury yields of
Speaker 5: raising hopes in terms of the relief for mortgage rates.
Speaker 5: But we do know that President Donald Trump was saying
Speaker 5: that he's canceling his plans to sign the bill into
Speaker 5: lawmakers pass a voting legislation, so that kind of is
Speaker 5: putting a bit of the fate of the legislation in question.
Speaker 5: But certainly you're seeing investors at least buying into homebuilders
Speaker 5: and seeing a positive trajectory.
Speaker 1: No, it says to me politics, but we'll keep an
Speaker 1: eye certainly on that sector.
Speaker 4: All right, we.
Speaker 3: Should talk rights real quick. To the thirty year treasure
Speaker 3: yield fall fell ten basis points on the day to
Speaker 3: four point eight four percent.
Speaker 1: Right, and so, and that really plays into what you've seen,
Speaker 1: and certainly the mortgage market.
Speaker 4: It's a really important thing. All right. So we covered
Speaker 4: home builders, we covered micro We want to go to Wendy's.
Speaker 2: Yes, hi about lung fire.
Speaker 5: Let's talk about lunch. Though, I haven't been there in
Speaker 5: a while. Do you miss the Frosty's though, Yeah.
Speaker 3: I've not been there in a while.
Speaker 1: Yeah, used to love it was the only place it
Speaker 1: was likely.
Speaker 4: Chicken nuggets were quite good at Wendy's. Yeah, he used
Speaker 4: to love the chili.
Speaker 5: Oh that you said the chicken nuggets.
Speaker 4: No chicken nuggets. I'm a really embarrassed. But I like
Speaker 4: the met McDonald's. I used to love a little you know,
Speaker 4: what is the kid's meal?
Speaker 5: That's honesty, happy meal?
Speaker 4: What's that to love?
Speaker 1: Happy meal with a little toy with a smile on
Speaker 1: your face, a little bit of fries, a little bit
Speaker 1: of chicken nuggets.
Speaker 5: Well, it's now a meme. Stock We're looking at shares
Speaker 5: of Wendy's jumping more than twenty percent in the day,
Speaker 5: best day since twenty twenty one. It's the same story
Speaker 5: we've been seeing over and over with the memestock media.
Speaker 5: So you're seeing a lot of retail traders online chatting
Speaker 5: about the fact that they really want to drive up
Speaker 5: the stock, especially if you think about the short covering
Speaker 5: that comes alongside that. We did see high short interest
Speaker 5: on the stock with about twenty four percent of the
Speaker 5: float really in focus here, So you did see a
Speaker 5: pretty strong gain on the day as people are really
Speaker 5: digesting whether or not this is something that's actually going
Speaker 5: to last. We know most times it doesn't, she.
Speaker 3: Said, digesting what I'm talking about that, you know, and
Speaker 3: I didn't even catch that.
Speaker 5: Now there we go.
Speaker 4: Nice, nice job.
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