Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: This is the closing bell on this stock movers report,
Speaker 2: the company's making moves at the close of US trading
Speaker 2: with Carol Masser, Tim stenovek Romain, Bostik, and Scarlet.
Speaker 3: Food large caps in the S and P five hundred
Speaker 3: at the close, a little bit more negative and kind
Speaker 3: of an even split here, guys, two hundred and fifty
Speaker 3: names Katie to the upside, two hundred and fifty three
Speaker 3: to the downside. Wow, almost even.
Speaker 1: Almost even.
Speaker 4: Pretty dang close. Same thing too. When you take a
Speaker 4: look at the circle here, you had six sectors finished
Speaker 4: in the green, five in the red. But take a
Speaker 4: look at what is red on that tie information technology.
Speaker 4: That was your biggest points loser on the day. That's
Speaker 4: why we had such a negative day in the markets.
Speaker 4: In terms of what did well Healthcare, energy, communication, services,
Speaker 4: consumer staples as well, but again tech, consumer, discretionary and
Speaker 4: industrials the biggest weights.
Speaker 3: Carol all right mentioned healthcare and kind of I'm looking
Speaker 3: at the medical space here as really a top performer
Speaker 3: in today's session. In fact, the number one gainer in
Speaker 3: the S and P five hundred Medtronic ticker MDT. That's
Speaker 3: stock finishing with a gain of four point six percent.
Speaker 3: We did see it up the most in five years,
Speaker 3: its highest intra day in about three and a half years.
Speaker 3: The news the medical device maker lifted the bottom end
Speaker 3: of its range for justed profit forecasts for the year.
Speaker 3: Company also boosted its organic revenue outlook, falling better than
Speaker 3: expected results in the second quarter. As I said, I
Speaker 3: just want to clarify, up the most in five years
Speaker 3: and its highest inter day in about three and a
Speaker 3: half years. So anyway, some outperformance. Not a name that
Speaker 3: we talk about on a regular basis. Merk also an
Speaker 3: outperformer here, this one up about three point nine percent
Speaker 3: in today's session. The drug maker set a mid stage
Speaker 3: trial of its drug for a rear form of high
Speaker 3: blood pressure met its main goal, So analyte this as
Speaker 3: a win, a trial win, as a potential for an
Speaker 3: expanded market for its drug. Win. Revere stock though still
Speaker 3: down about two percent year to date. And then I
Speaker 3: just want to mention strategy because this one up about
Speaker 3: five point eight percent. I'm not exactly sure why. You know,
Speaker 3: Bitcoin has fallen so much, about thirty percent from its
Speaker 3: twenty twenty five peak. So we did have a story
Speaker 3: in the Bloomberg a rare euro denominate preferred stock offered
Speaker 3: by Michael Saylor's Bitcoin Treasury Companies falling below its offer price.
Speaker 3: I don't know. I'm not quite sure why bitcoin.
Speaker 5: Bounced off its lows recent lows today, so maybe that
Speaker 5: had something to do with it. I don't know.
Speaker 1: Yeah, and you're also talking about a stock this down,
Speaker 1: you know, thirty seven percent in the past six weeks,
Speaker 1: so that could have something to do with it too.
Speaker 3: Thank you, guys, thank.
Speaker 2: You for these Thanks.
Speaker 5: It's a group effort.
Speaker 3: We can help. I will give you a pinky ring.
Speaker 5: Now, all right, let's talk about what's going on on
Speaker 5: the downside. Stocks in the red today and Vidia shares
Speaker 5: falling two point eight percent down for another day. The company,
Speaker 5: of course, reporting after the bell tomorrow, just after four o'clock.
Speaker 5: We'll have special coverage in those results live as soon
Speaker 5: as we get them. Shares falling is which is three
Speaker 5: point seven percent earlier in the session there now down
Speaker 5: twelve point four percent from those all time highs back
Speaker 5: in October. We should know too, Microsoft, along with Nvidia,
Speaker 5: committing to invest up to a combined fifteen billion dollars
Speaker 5: in anthropic. That's a move of that ties Anthropic, which
Speaker 5: makes Claude closer to two of the biggest backers for
Speaker 5: its rival open Ai, which of course makes Chat gpt
Speaker 5: in tech. Also today, Amazon shares fell four point four percent.
Speaker 5: Microsoft closed other day two point eight percent to the downside.
Speaker 5: These companies saw their ratings cut to neutral from buy
Speaker 5: on Tuesday, as rothschild in co Redburns. Alexander Heisel downgraded
Speaker 5: the stocks for the first time since initiating coverage back
Speaker 5: in June twenty twenty two. He writes that the industry's
Speaker 5: quote trust us Jenai is just like the early cloud
Speaker 5: one point zero narrative looks increasingly misplaced. He stated that
Speaker 5: underline economics are quote far weaker than assumed. And finally,
Speaker 5: Home Depot shares falling six percent today, the company cut
Speaker 5: its full year earnings guidance. It warned that some unsteady
Speaker 5: consumers are hitting the pause button on big ticket home purchases.
Speaker 5: We're going to get more numbers tomorrow. We'll get Target,
Speaker 5: We'll get we'll get Williams Sonoma, We'll get TJX. We've
Speaker 5: got Walmart later this week, so we'll get a better
Speaker 5: idea of what the consumer is doing seeing if this
Speaker 5: is more of a one offer, if this is something bigger, well, and.
Speaker 1: Just honorable mention, I was keeping an eye on Share
Speaker 1: as a Klarna. They finished down more than nine percent
Speaker 1: on the day, worst day since they went public just
Speaker 1: a few months ago. And the idea that they're setting
Speaker 1: aside a lot more money tim for potential credit losses
Speaker 1: that seem to rattle a lot of folks. And when
Speaker 1: you start to talk about consumer spending, because not always
Speaker 1: just about whether people want to spend, but also the
Speaker 1: idea that if you have a more holistic environment where
Speaker 1: things are deteriorating, does that then become a factor with
Speaker 1: regards to you know, people continuing to spend.
Speaker 3: Yeah, I feel like these buy now pay later, you know,
Speaker 3: you think that just because these companies are busy, it's
Speaker 3: a good sign, but it you know, in terms of
Speaker 3: for them, but what it says about the economy and
Speaker 3: maybe consumers feeling a little.
Speaker 5: Bit yeah, like what are what are people paying later for?
Speaker 5: That's the big question?
Speaker 3: Yeah?
Speaker 4: Are they paying later?
Speaker 3: Yeah?
Speaker 1: Right?
Speaker 3: Yeah?
Speaker 1: And these are some of the things that of course
Speaker 1: the BED is going to have the debate at it's
Speaker 1: meeting in about three weeks, and you take a look
Speaker 1: at where yields win, and I think it really shows
Speaker 1: you kind of the breakdown I think in bets and
Speaker 1: exactly which direction the FED would go. We should point
Speaker 1: out that the implied probability on the Bloomberg terminal of
Speaker 1: a rate cut in December is still under fifty percent.
Speaker 1: But when you consider some of deterioration we've seen in
Speaker 1: labor market data, maybe some of the deterioration that we're
Speaker 1: seeing in some of the consumer company earnings, maybe that
Speaker 1: changes what exactly the FED has to do when they
Speaker 1: meet in three weeks.
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