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Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.

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Speaker 2: Stock Movers podcast, your roundup of companies making moves in

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Speaker 2: the stock market, harnessing the power of Bloomberg data.

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Speaker 3: Let's take a look at some stocks on the move today.

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Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie ty Tel. Not

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Speaker 3: a whole lot of movement while we wait for the

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Speaker 3: Fed this afternoon, but a couple stocks are getting some action,

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Speaker 3: including Circle, fresh off the IPO right now potentially getting

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Speaker 3: some love from Capitol Hill.

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Speaker 4: Good morning, Hey, good morning, Nathan. Yeah, that's right.

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Speaker 1: Circle is trading quite well this morning, up one point

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Speaker 1: four percent, and the.

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Speaker 4: Ticker is CrCL.

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Speaker 1: This is a stablecoin issuer that went public two weeks ago.

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Speaker 1: Given some more tailwinds after the Senate passed stable coin

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Speaker 1: legislation yesterday with a sixty eight to thirty vote setting

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Speaker 1: up regulatory rules for cryptocurrencies pegged to the dollar, such

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Speaker 1: as Circle, it's perhaps setting up these stable coins to

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Speaker 1: become maybe more midstream. Along with this regulation, the legislation

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Speaker 1: requires these dollar peg stable coins to hold dollar for

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Speaker 1: dollar reserves in either short term government debt or similar products.

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Speaker 1: The House must now decide whether to take up the

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Speaker 1: Senate bill or negotiate a compromise. But Circle is a

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Speaker 1: stable point issue who went public two weeks ago. It

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Speaker 1: trades the second largest stable coin out there.

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Speaker 4: The stock has actually.

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Speaker 1: Risen to three hundred and eighty percent from its IPO

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Speaker 1: price and given a little boost from Washington, that Circle

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Speaker 1: up one and a half percent this morning.

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Speaker 3: Yeah, on top of a triple digit gain. Depth something

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Speaker 3: to keep an eye on. Also another day, potentially to

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Speaker 3: keep an eye on Peloton.

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Speaker 4: Huh. Yeah, this is a day two story here.

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Speaker 1: It slid twelve percent yesterday and is rebounding in this

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Speaker 1: morning's trade, up six tens of percent. The slide yesterday

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Speaker 1: was originally due to the Senate Tax bill. The new

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Speaker 1: text of the Senate tax bill omitted the House's proposal

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Speaker 1: that allowed users of health saving accounts to use their

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Speaker 1: accounts for certain fitness allowances such as gyms and equipment

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Speaker 1: like Peloton. So because of that Senate tax bill omission yesterday,

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Speaker 1: the stock slid twelve percent, but it does seem to

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Speaker 1: be stabilizing this morning. Peloton recovering slightly.

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Speaker 3: And got to talk about Amazon because the CEO made

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Speaker 3: some interesting news in the last few hours. Is it

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Speaker 3: moving the stock at all? Some of his comments value So.

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Speaker 1: Amazon is outperforming in the mag seven this morning. It's

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Speaker 1: really barely in the green at the moment, as we're

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Speaker 1: watching S and P futures flip into the red. So

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Speaker 1: far this morning, Amazon up three tens of one percent.

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Speaker 1: A very interesting story here. The Amazon CEO, Andy Jazzy

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Speaker 1: says he expects the company's workforce to decline in the

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Speaker 1: next few years as it uses artificial intelligence to handle

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Speaker 1: more tasks. He wrote an email to staff in which

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Speaker 1: he said that AI technology will mean fewer people in

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Speaker 1: some of today's roles and more people doing other.

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Speaker 4: Types of jobs.

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Speaker 1: He expects it will lead to efficiency gains for Amazon

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Speaker 1: across the company. And it really comes along a growing

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Speaker 1: course of companies talking about AI and its impact on

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Speaker 1: their workforce. Did you hear that Shopify told employees that

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Speaker 1: requests for new headcount will require an explanation as to

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Speaker 1: why AI can't do that job due Lingo saying some

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Speaker 1: similar things about contractors, and comes after Microsoft recently announced

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Speaker 1: a round of layoffs that hit.

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Speaker 4: Software developers the hardest.

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Speaker 1: In applying somewhat that AI can replace them, So it

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Speaker 1: seems to a growing company discussion around the uses of

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Speaker 1: AI and headcounts.

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Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with

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Speaker 2: us throughout the day for the latest roundup of companies

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Speaker 2: making news on Wall Street and for the latest market

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Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

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