Council Global Business News twenty four hours a day at Bloomberg dot com, the radio plus mobile LAP and on your radio. This is a Bloomberg Business flag from Bloomberg World Handquarters. I'm Charlie Pellet. Stocks moved higher, S and P five hundred index, capping a fifth monthly gain. S and P five hundred Index up today by two tenths of one percent, higher by three points to one seventy three.
Nestak also moving higher, up seven to fifty one sixty two, a gain there of one tenth of one percent, but a losing day for the Dow Jones Industrial Average down twenty four points to eighteen thousand, four hundred thirty two. That was a drop of one tenth of one percent
ten year of fourteen thirty seconds. Looking at the yield of one point four or five percent, Gold advancing seventeen forty v ounce to thirteen forty nine, a gain there of one point three percent, and crude oil West Texas Intermediate up thirty four cents of barrel forty eight, again there of eight tenths of one percent. I'm Charlie Pellett, and that's a Bloombird business flash. This is taking start with Bim Box and Kathleen Hayes on bloom Bird Radio.
The world of a horse racing has a big race this Sunday at Monmouth Park in southern New Jersey, the Haskell Invitational. It's a one million dollar race and the entrance of a well a three year old cult named Exaggerator is turning the race into one of the biggest of the year. It's going to take on rival Nyquist as well as as the Kentucky Derby Dinner winner. And we know that niqu was placed third in the Preakness and won four out of the five meetings with Exaggerator.
Here to tell us more about this is our own Bloomberg's racing enthusiast, Gary Edel, and also professional handicappers Peter Rotondo and Lee Davis from Team Rodondo. Thanks very much for being with us. Peter, I wonder if you could just describe for us this entrance of Aggerator into the race on on Sunday. What is that that doing to
your your handicapping? Well? Exaggerator, he was he's been working out training at Saratoga and uh I was there last week and to be quite frankly, his last work wasn't that good. So I was thinking that he was going to skip the high SkELL but no, one, behold, he's in it. And there's a lot of forces that have you know, have will be foldedly placed in. This race is a field of six and one through five. Night
was down to American Freedom. They were all gonna be close to the pace an Exaggerator, I imagine we'll be laying back and if the pace is fast enough, he'll becoming late with his late usual charge and maybe pick up the pieces. But keep in mind, MoMA Park is a type of race track that usually favors front and
runners or stalker is. But having said that, not the head but Exaggerator loves it wet and there is some rain in the forecast for Sunday, so it should be a very interesting day at the races that Mamma for the high Alright. I know nothing about horse racing, nothing at all, um. I find it fascinating to watch, you know, the the Rays of Asket or the Grand National, or I'll watch some of the trivil Crown here in the US. But beyond that, Gary, how much does the horse have
to do with it? And how much does the jockey have to do with it. I mean, is the jockey just basically sitting there or does he actually play an important role? You know what? The it really is all about the horse and the conditioning. About the horse and a jockey. You don't want to really downplay it. They are pretty much just along for the ride. But you
do have certain jockeys that fit certain horses. For instance, Mike Smith guy is fantastic on nursing speed in the front, which means is that if you have a horse that likes to go to the lead. Again, racing is made up of pay scenarios, just like humans. You have you have horses that like to go to the lead, you have horses that like to lay back off the lead, you have closers. So Mike Smith has a fantastic way
of gauging pace. So what he could do is he could go out with a horse that's a speedball and he could just slow the race down and then when everyone tries to come and catch him, he still has a lot of horse left and he'll just think, the horse know how long the race is? Is that know when the finish line is coming? You know, it's all about conditioning and uh, they have a good sense for it. They the jockeys have certain hands singles that they'll give
them and when they hold the reins. But I think they'll probably Peter or actually Lee probably could be a little bit better in explaining about the importance of a jockey ahead Lee Davis. Well, I'll tell you the truth. I agree with Gary mostly the horse. But um, if you have a good jockey, that other I guess it's nine percent horse and tampa cent jockey. But if you don't have a real good jockey, you only have n
and you lose that other tempa tent. So if you have a good a good jockey on him, that tempa cent comes in handy in a tight situation when you have to make a decision, it's easy when you have a horse is a speed horse and he goes to lead and nobody changed some gonny run drop. I could be on the US even though I'm way over to one of fifty pounds. Um, but you know what I mean. It's in a tight situation when you're you know, a
good jockey is a good handicap. This is why I'm wondering, because we always talk we're talking about exaggerate, We're talking about Nyquist and nobody ever says, hey, this jockey is amazing. Um, they don't seem to be as famous. I mean, Peter, do you think about the jockey when you're handicapping who's gonna win, who's gonna lose? Very very small about a small amount. I I think about the horse and and the pace of the race. You know, it's just it's
it's actolutely It's really simple. If there are a lot of fun runners better us that comes from the back, If the pace is gonna be uh you know, uh fast. Like I said, the closes come in and vice versa. If there's just one speed hors he could dictate a pace and probably could just march around the racetrack. So the jackie, you know, when it comes down to that photo finished at the end, maybe the jockey, uh you know, the better jockey may get the nod over the less
experienced one. But everyone that's in these graded races, all these jockeys that lunch, whether it be at Sarahtolga at you know with the you know the great races they have there, or at mom it's for the high school, or at del maw the Pacific Classics. They were all
top knots jockeys. You know, you could just uh, it's a hairline track, you know, hairline between all of them among old Karen, I want to just bring in the topic of the bet Fair exchange and you describe this as Wall Street meets handicapping, Explain what is bet fair exchange? Once again, I'm going to turn this over to Peter and Lee, who are contractors now with bet Fair. But
this is gonna be unbelievable. This is going to be the new I don't want to say gay trading, but this is going to bring Wall Street into the art of wager and so Peter and Lee, I'm gonna just turn it over to you guys. All right, Well that's fair Exchange, first of all, is one of the world's greatest international on line gaming providers. Now, what does exchange wagering? It utilizes cutting edge technology to allow players to propose or match anonymous phrase with each other. Now, the key
speatures of exchange wagering. They include great value odds you always look for great value when you're betting. And two you could even wage you during the actual running of the race. You could bet will back a horse at a specific odds odds and those odds will be locked in as opposed to power mutual wagers. You can bet a horse at eight for one with ten minutes ago, So we gotta we gotta run Peter Rotondo, League Davis, Team Rotondo, Gariette Bloomberg Race the enthusiast. This is Bloomberg
coming up on on Bloomberg Bloomberg Law. An unusual decision the Ninth Circuit Court of Appeals telling the California's Supreme Court it needs to do a better job of explaining why it's dismissing a prisoner's challenge to being detained.