00:00And right now we are two minutes away from the end of the trading day.
00:03Romain Bostic taking you through to that closing bell.
00:06It's a global simulcast.
00:07Carol Masser, Tim Senevic, they join us now.
00:09Welcome to our audiences across all of our Bloomberg platforms.
00:12Television, radio, our partnership with YouTube with an S&P 500 set to close out the week at another record
00:18high.
00:19And then I was looking at the weekly numbers up, what, 3.5% on the S&P 500.
00:24I almost couldn't believe it because it just didn't feel that way considering some of the churn in the market.
00:30But yeah, it's kind of like a stealth rally, if you will, because we kind of had that midweek swoon.
00:35But yeah, you're right.
00:36Three and a half percent, 3.6% to be precise.
00:39OK, well, there's still, you know, one more minute.
00:42So we don't know.
00:43Tim, there you go.
00:44I love that you're always so exact.
00:46If you're impressed, if you're impressed by 3.6%, look at the NASDAQ composite up 5.3% for the
00:52week.
00:53Wow.
00:53Yeah.
00:54Well, there you go.
00:54I mean, it gets to this idea that at the end of the day, with this rotation that we continue
00:59to see underneath the surface,
01:00so that when sort of one group, one sector or one group of the market sort of does poorly because
01:05of shift in sentiment,
01:06usually something else picks up that mantle.
01:09Today, obviously, though, we have to address the elephant in the room,
01:11is that obviously a lot of the green on the screen in the equity markets is tied to some of
01:15the red that we saw out of that jobs report earlier today.
01:18Right.
01:18A weaker report, right?
01:20And the expectations is that maybe we don't get the Fed raising rates any time.
01:23But there's a lot to go before we get to that September rate decision.
02:256% on the week.
02:27If I may, most names in that index higher today.
02:57That is the outsized gainer on the day up about 1.5%.
03:00Discretionary stocks were up there as well.
03:03Tech stocks also up about 1%.
03:04Your laggards were in communication services and in energy.
03:08Are you hating on the tech stocks?
03:10No, I love tech stocks.
03:12All right, just making sure.
03:13Look at all those double-digit gainers.
03:15Every night I go to bed, I just talk to Claude.
03:17Tim was like,
03:19Hello, Claude.
03:20I say, hello, Claude.
03:20What does Claude say back to you?
03:21You really are a lonely man, right?
03:23You don't want to know what Claude says to me.
03:24Dark, dark things.
03:26Does nobody want to talk to you or play with you or be upset with you?
03:28Oh, come on. Romaine, call me.
03:30I will.
03:30We'll talk.
03:31I don't have your number, but sure.
03:32All right.
03:33All right.
03:33Let's call Airbnb.
03:34Apparently, investors are.
03:35Let's get to it because that is definitely some outperformance in the session.
03:39This went up 17.4% in today's trade.
03:44Top gainer in both the S&P and the NASDAQ 100.
03:48Company boosting its annual revenue forecast for a second time this year.
03:51They cited robust demand in the U.S. and Europe.
03:54Company now sees annual revenue growth improving by a percentage of at least mid-teens
03:58and boosted its full-year margin forecast for adjusted earnings.
04:02Optimistic outlook suggesting that travel demand does remain healthy.
04:05Overall, nights and seats booked, jumping 10% to $148.3 million in the second quarter.
04:11They're also renting out, apparently, boutique hotel rooms.
04:15So this is a new revenue stream for them.
04:16The stock now up about 28% year-to-date.
04:19Let's flip it on over to SpaceX, if we may.
04:22This went up 16% in today's session.
04:26Top gainer it was in today's trade, the NASDAQ 100.
04:30Continuing the climb that we saw yesterday, that came after the release of as many as
04:35911.5 million shares worth about $100 billion from those lockup agreements.
04:39So investors snapping up the shares.
04:42It's been a bit of a rollercoaster ride, we know, since the IPO stock, though.
04:47$133.11, so just below that IPO price closing here.
04:51And I think the stock is up roughly about 19% this week.
04:55Let me just see if it made the 20% mark.
04:58Yep, up 22, almost 23% for the week overall.
05:02And then let's go on over.
05:03I hope I gave the right ticker.
05:04Microchip?
05:05Thank you, Lizzie.
05:08A top in the S&P and NASDAQ 100.
05:11That went up about 13, almost 14% here.
05:13Semiconductor manufacturing forecast.
05:16Company forecast adjusted earnings per share for the second quarter.
05:19Yeah.
05:20And guidance that beat the average analyst estimate.
05:22We did see some analysts raising their price targets, some lowering, stacks up more than
05:2630% year-to-date.
05:27What?
05:27All right, Tim, go.
05:28Okay.
05:28Well, I think Romaine wants to talk Dunkin' and coffee.
05:31I do, too.
05:31We'll get there in a second.
05:33I want to start with TradeDust, the worst performer in the S&P 500.
05:36Boys always, you know, aligning with women.
05:37Down 22% today.
05:39We covered this briefly yesterday when the company was out.
05:42It reported earnings for second quarter and gave third quarter revenue that really missed
05:45average analyst estimates.
05:47Shares are down 89% since 2024 highs.
05:50At least four brokerages have downgraded their rating on the stock after this latest report.
05:55Once again, TradeDust down 22% today.
05:57Let's go to retail and apparel and talk Under Armour a little bit.
06:01The company forecast sharper revenue decline than previously expected as demand softens
06:05in several key regions.
06:06Shares down today by 4.5%.
06:08The company's been trying to turn around its business by cutting its product offerings
06:12and reducing discounts.
06:13And then remember, they lost Steph Curry.
06:16And that's added additional pressure as well.
06:184.5% to the downside for Under Armour.
06:20And finally, shares of Sweetgreen.
06:22Romain, I know this is one of your lunch spots.
06:25I went today to do some research.
06:27It was, no joke, empty today.
06:30Midday on, to be fair, it's a Friday in Midtown Manhattan.
06:32I don't know if anyone comes into the office except for us.
06:35But there was nobody there.
06:36And that's the concern that Sweetgreen has right now as it continues to battle the cyclospora outbreak,
06:42even though its products have not been linked to what has happened with certain packaged lettuces.
06:48Shares down 8% today after it downgraded its net sales for the year.
06:51Yeah, and we're going to hear from Kava next week with their earnings as far as the yield picture.
06:55Keep in mind, on a weekly basis, the dollar is down.
06:58So, too, are oil prices.
07:00And you're seeing yields drift down as well, down about five basis points on your two-year yield.
07:05The 30-year yield down 3%.
07:08Meanwhile, Carol, there's something I want to talk about.
07:12Yeah.
07:12Because right down the street from Bloomberg World Headquarters, some new coffee shop opened up.
07:16Can you see me, Carol?
07:17I was like, ah, you know, I'll check it out.
07:19It's called, what is it called, Watch House?
07:21Watch House.
07:21Watch House.
07:23This is clearly not for me.
07:24It is very fancy coffee, very expensive coffee.
07:28You know, our producer came in the other day and she was complaining.
07:30She was like, you know, I paid like, you know, $40 for this and all I got was like six
07:34ounces.
07:34Lizzie?
07:35Meredith?
07:36Which one?
07:36I don't know.
07:37Why are you calling her out?
07:37Queen Anne?
07:38What's your problem?
07:39No!
07:39The Bambito Estate?
07:41Is that what she had?
07:42It comes with green tea as well.
07:45Beans from a family farm in Western Panama.
07:45All right, so this is a luxury chain.
07:47It's only $32.
07:48It's popular overseas.
07:50And they do have a variety of offerings.
07:52You can get regular coffee for $4.
07:54I'll keep this conversation going, Carol.
07:55Don't hate on it.
07:56If you want to pay $32 for a cup of coffee, you get the Bambito Estate steeped from beans from
08:01a family farm in Western Panama and serve with a side of cold-brewed green tea.
08:06Jim, have you been there?
08:08I have not been there.
08:08I am a fan of pour-overs, though.
08:10I've been known to pour over coffee of my own.
08:12You can do it at home, too, and it still tastes really good.
08:15But people like the experience.
08:16They want to be out.
08:17Wait, which way am I putting this one?
08:19Maybe Claude will take you for a cup of coffee.
08:21This one, Romaine?
08:23Oh, my God.
08:24He's a little bit of a primo when it comes to coffee.
08:26Yeah.
08:26I had no idea because he never drank coffee at work.
08:29I don't drink coffee at work for a reason.
08:30It does not surprise me at all, Carol Master.
08:31I know.
08:32Yeah.
08:32I know.
08:32Now that I've spent some time working.
08:34You probably got one of those fancy Italian espresso machines.
08:36I do.
08:37Yeah.
08:37The Bezzera BZ10.
08:39Okay.
08:39I don't know what that means, but it sounds expensive.
08:41Well, speaking of expensive, if Watch House isn't your thing, maybe Dunkin' is.
08:46I think it's a good cup of coffee.
08:47There's this marketing campaign out there by a company called Pace where basically if
08:52you buy things at certain stores, you get a $10 gift card for Dunkin'.
08:56Well, as young people tend to do, they found a way to really sort of game the system.
09:01I mean, well, let me talk to Tim.
09:02Tim, to game the system, so explain how this works.
09:05What's going on?
09:06So the idea is they just keep buying things, spread it across all their credit cards.
09:10Out there.
09:10I guess, okay.
09:11Yeah.
09:11Write me in.
09:12This is how we feel.
09:12They buy $10 gift cards.
09:14They make transactions close to $10 to maximize their reimbursement.
09:18Some have been able to redeem hundreds of dollars in credits.
09:21I don't know how that works.
09:22I don't either.
09:24Maybe we're not, let's just say the demographic.
09:26I'm not the demographic or either one of these.
09:27I don't think, you know.
09:30Carol's holding up a piece of paper.
09:32I'm sad.
09:33It's a frowny face.
09:33Why?
09:34I'm sad.
09:34Look, do you see my eyes?
09:35They're X's.
09:37What's wrong, Carol?
09:38Is this what you guys do in the studio all day?
09:40Sorry?
09:40Nothing.
09:41I think we have to go.
09:42Hey.
09:43Wait, I haven't really been talking today.
09:46Are they bringing you a co-anchor next week?
09:48No, I want them to bring me a $30 cup of coffee.
09:51$32, not including tip.
09:52I'm not even going to get you a $10 gift card.
09:55Okay.
09:56Good night.
09:57Claude, we'll get it for you, Romaine.
09:58Kind of love you.
09:59Have a good week.
10:00Kind of.
10:01Bye.
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