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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 mover's 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 Master, Tim Stenebeck, Romain Bostick, and Scarlet.

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Speaker 3: Foo and investors today they were selling stocks. They were

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Speaker 3: also selling treasuries. I will point out though, that the

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Speaker 3: dollar index, the Bloomberg Dollar Spot Index, was hired today,

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Speaker 3: so that dollar getting a little bit of a bid.

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Speaker 4: Yeah, I'm glad you brought up the dollar. It's becoming

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Speaker 4: a talking point, isn't it, because even though it's getting

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Speaker 4: a big bit, it's still hovering near the lows of

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Speaker 4: the year. And we were watching a worry here about

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Speaker 4: whether there is an issue of importing inflation while this

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Speaker 4: tariff strategy gets sorted out.

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Speaker 1: Yeah, And I just want to point out too, just

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Speaker 1: for our viewers and more importantly our readers on bloom

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Speaker 1: on the Bloomberg terminal on Bloomberg dot com, there is

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Speaker 1: really a great tracker, basically a tariff tracker that we've done.

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Speaker 1: Because it's kind of hard to wrap your head around it. Tim,

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Speaker 1: you were rattling off a few nations there. I mean,

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Speaker 1: I couldn't even remember which countries were still in play.

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Speaker 5: I was looking at a lot though to do that.

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Speaker 5: I mean, you can't remember this stuff. We spoke to

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Speaker 5: the TRECK CEO a little earlier. He said uncertain. I

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Speaker 5: mean he doesn't know what's going on. It's uncertain.

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Speaker 1: Yeah, no one does. And remember that a lot of

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Speaker 1: the tariffs are talking about today. These are those non

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Speaker 1: sectoral tariffs basically across the board ones. This doesn't necessarily

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Speaker 1: impact those sectoral tariffs, the ones on autos, the ones

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Speaker 1: on steal and aluminum, et cetera, et cetera. So a

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Speaker 1: lot for investors departs, and that's a big reason why

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Speaker 1: a lot of investors maybe looking for the door. The

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Speaker 1: Dow Jones Industrial Average down more than four hundred points

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Speaker 1: or nine tenths of one percent, the SMP down forty

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Speaker 1: nine points or eight tenths of one percent, The NASA

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Speaker 1: composite is going to close out the day down by

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Speaker 1: nine tenths of one percent, and the big decliner on

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Speaker 1: the day, that's Sir Russell two thousand, a drop of

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Speaker 1: thirty five points, a one point six.

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Speaker 5: Percent decidedly down day. As you mentioned, Romaine in the

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Speaker 5: S and P five hundred. Only ninety six of these

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Speaker 5: stocks did move higher today. Four hundred and four were decliners.

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Speaker 4: And we're looking at a broad based decline as well.

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Speaker 4: On the S and P five hundred, most major sectors

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Speaker 4: were definitely in the red today, led down by consumer discretionary,

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Speaker 4: which carries TESLA. So don't be too taken aback there,

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Speaker 4: because we did see also very significant drops in materials, energy, financials,

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Speaker 4: and communication services as well. Really only two sectors in

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Speaker 4: the green staples defensive trade utilities. Got to still buy

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Speaker 4: those picks and shovels.

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Speaker 2: Guys, all right.

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Speaker 5: Well, speaking of buying, I was able to find a

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Speaker 5: few stocks in the green today. The best performer on

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Speaker 5: a percentage basis in the S and P five hundred today.

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Speaker 5: Look at that it's tractor supply up three point nine

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Speaker 5: percent rose today, the highest intra day level going back

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Speaker 5: to April. This is thanks to data from Bloomberg Second Measure.

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Speaker 5: It says that adjusted sales observed by Bloomberg Second Measure

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Speaker 5: rows four point three percent in the second fiscal quarter.

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Speaker 5: What Bloomberg Second Measure does is it analyzes wipe data,

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Speaker 5: mostly from debit cards, to get an understanding for how

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Speaker 5: people are purchasing, and what there caner behavior is the

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Speaker 5: data does drop from a sample of credit and debit

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Speaker 5: card purchases made by US consumers. Analysts currently estimate revenue

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Speaker 5: for the quarter up about three point six.

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Speaker 1: Ever been in a tractor supply?

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Speaker 5: I have not been in a tractor supply. Where I

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Speaker 5: grew up, there was like a local version of tractor

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Speaker 5: supply called farm supply, so I used to go there

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Speaker 5: all the time. Interesting, Yeah, that's where I would get

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Speaker 5: my bag, bomb, horse feed, those sorts of things. Have

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Speaker 5: you been attractor supply?

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Speaker 3: Yes?

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Speaker 1: I have where in the suburban non Maryland.

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Speaker 5: Do you remember how popular they were during the pandemic?

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Speaker 3: I do, I do. What was that? I have no idea?

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Speaker 5: Tim Okay, we'll move on from tractor supply to rockets.

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Speaker 5: I want to look at Rocket Lab Corporation rklb US

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Speaker 5: is the ticker. It's a space company. It's seen as

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Speaker 5: an alternative to SpaceX for some things. It was up

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Speaker 5: nine percent today. This always moves well, I don't want

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Speaker 5: to say always, typically moves higher on days that you

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Speaker 5: see Elon Musk and Donald Trump kind of go at it. Look,

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Speaker 5: rocket Lab is tiny compared to what SpaceX does and

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Speaker 5: can only do a fraction of what SpaceX does. No question,

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Speaker 5: SpaceX is the market leader. But if investors are looking

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Speaker 5: for companies that could be alternatives to some of what

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Speaker 5: SpaceX does, they look at companies such as rocket Lab.

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Speaker 5: And that's why you have shares hired today by more

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Speaker 5: than nine percent, and wolf Speed in the green today.

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Speaker 5: This has been a decliner for quite some time, up

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Speaker 5: more than ninety five percent today. They filed for Chapter

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Speaker 5: eleven bankruptcy late last month. They named a new CEO,

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Speaker 5: Gregor van Issam as CFO and EVP excuse me, effective

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Speaker 5: September first. He does succeed Kevin Spirits, who will return

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Speaker 5: to his prior role of SVP for finance once again.

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Speaker 5: Shares of wolf Speed up ninety five percent.

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Speaker 3: All right, and looking at some of the decliners today,

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Speaker 3: let's start with Tesla in that stock falling seven percent.

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Speaker 3: Almost seventy billion dollars of market cap wiped out in

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Speaker 3: just one day. And this is coming on concerns that

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Speaker 3: Elon Musk's moved to form a new political party, a

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Speaker 3: third party, will draw backlash President Donald Trump. We saw

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Speaker 3: analysts weighing in on this. William Blair downgraded the stock.

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Speaker 3: They said they would prefer Musk to focus on the

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Speaker 3: Robotaxi rollout, and the broker also noted that Trump's tax

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Speaker 3: bill is set to cut demand for Tesla's emissions standards credit,

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Speaker 3: so that stock down seven percent closing out the day.

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Speaker 3: I'm also watching shares of Stilantis. US shares of Stalantis

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Speaker 3: fell as much as five point seven percent as Bank

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Speaker 3: of America cut the automaker to neutral from buy, with

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Speaker 3: the broker expecting to see a quote very weak first

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Speaker 3: half report on July twenty ninth. And then additionally, the

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Speaker 3: autoworker and Autoworkers' Union warned that the company's Italian car

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Speaker 3: production cratered by a third in the first half and

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Speaker 3: it's poised to sing further this year from multi decade lows.

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Speaker 3: Again that Stalantis positioning in Europe doesn't look good at

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Speaker 3: least according to Bank of America, even though the US

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Speaker 3: appears strong. And then finally, Core Scientific ticker core Z

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Speaker 3: shares were down seventeen percent to close out the day.

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Speaker 3: And this is after Core we've agreed to buy the

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Speaker 3: company for nine billion dollars in an all stock transaction.

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Speaker 3: Now analysts are positive on the deal for core Weave,

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Speaker 3: but they said the negative reaction in the Core Scientific

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Speaker 3: stock could reflect disappointment with the deal terms. And it

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Speaker 3: really was disappointing. It fell as much as twenty four

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Speaker 3: percent and then paired those losses just a bit, but

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Speaker 3: really down in the red today.

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Speaker 1: Yeah, phenomenal move in Core Scientific that really kind of defied,

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Speaker 1: at least on the surface, some degree of logic. Meanwhile,

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Speaker 1: a lot more logic to be found in the treasury space.

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Speaker 1: You did see that treasury curve or resteep in here,

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Speaker 1: with yields on the longer end of the curve up

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Speaker 1: about six basis points on the thirty year and on

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Speaker 1: the two year yield the shorter end of the curve

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Speaker 1: only up by about two basis points here, And a

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Speaker 1: lot of this seems to be based on the idea

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Speaker 1: of the longer term risk potential risk perceive risk right

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Speaker 1: now going on in the United States, and the compensation

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Speaker 1: that investors would demand to take on that risk.

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Speaker 2: This stock mover's report from Bloomberg Radio. Check back with

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

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Speaker 2: news on Wall Street and for the latest market moving headlines.

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