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This is the closing bell on this stock mover's report. The company's making moves at the close of US trading with Carol Masser, Tim Stenebeck, Romain Bostik, and Katie Greifel.
All right, well, there's a little bit of green in the s and P five hundred. I went to that part of the IMAP function and found some gainers today. The biggest gainer on a percentage basis in the S and P five hundred is Energy today up more than six point eight percent. This is a result of a deal with Meta Platforms. It's paying for the construction of seven new natural gas fired plants to fuel its data
center in rural Louisiana. Meta reaching a new agreement with Energy to build and pay for enough gas plants to provide a total of five point two gigawatts of electricity for the data center. The agreement includes a Meta commitment TEL fund up to two and a half gigawatts of new renewable resources, as well as a memorandum of understanding to explore future element and use of nuclear power. Entergy up by six point eight percent. The best performer on a percentage basis in the S and P five hundred
among the best performers in there as well. I think it was actually the second best performer. That's right. Brown Foreman up again on news of a potential acquisition by Pernard Rashow. So look at that Brown Foreman controlled by the Brown family. Up five point six percent today. It was up yesterday as a result of this as well. The big question is is the family going to approve because they do have voting power of shares. And finally, a Peloton a blast from the past.
Yes, and d out there speaking of twenty twenty two.
I was on my peloton this morning. What I'm talking about?
Yes, Katie has an impressive peloton.
H that's quite the setup. All right.
Well, I don't know how to segue that into what the stock did today, but it's up eight point nine percent. This is actually the result of Eric Jackson out there on social media. It serves as much as seventeen percent before giving back some of those gains. Surging the most intra day going back to July, Eric Jackson, the activist investor, said he is long the stock. Here's what he said, quote, I'm long Peloton at four dollars he said in a post on ex Peloton shares. At that point, we're down
about twenty four percent year to date. Up right now though, we're up today to four dollars and forty three cents a shareow.
So for decliners, I was very spoiled. I had a lot to choose from. We can start with Amazon. It's down by four percent. No specific news, but we do have the European Commission saying it was hit by a cyber attack that may have resulted in the taft of internal data and the tax struck the Commission's Amazon Web Services or AWS account so before being detected, So maybe that had something to do in part with the stocks decline.
Up Next to Coinbase, I wanted to talk about this because I wrote about this story yesterday about how coinbase is teaming up with Better to really offer crypto mortgage. Tim will be interested in this to crypto mortgage to Americans.
And now we have TD cow and saying that the product is mixed, so that's not really that great advantage for the borrow is that they can obtain credit against coin holdings the coin TD Covin said, but you know, it's still questionable how they will move forward with that. So we have coinbased down by more than seven percent, and lastly we have cybersecurity stocks down. But I want to zero in on the ticker PA and WPOLLO Alto
shares are in the red by six percent. It's joined by its peers, CrowdStrike and Sailor dropped by almost double digits. So it's really because of a fortune report about an artificial intelligence model being tested may be used by hackers.
All right, let's take a quick look at the bond market. There because also spoiled for choice, though you did see an interesting steepening which we were talking about with Jim Karen. You can see the two year yields actually fill eight basis points, a little bit of a rally in the short end of the curve, which was certainly interesting when you think about where we were after that ugly auction
earlier in the week. Can't say the same for the rest of the curve, though you saw a little bit of selling pressure deeper as you get further out the curve. Thirty year yields higher by about four basis points. Ten year yields we are back above four forty ten. Are you scared?
You know, I wouldn't say I'm scared, okay, But what I will say is I wonder what the President's next move is. Because yesterday, after the selloff, what we saw was a message from the President calling for an extension and by many accounts, perhaps a third sort of extension. And the idea was that maybe this would give more time for negotiations, and markets bought it a little bit.
But then this morning, with seemingly increase in hostilities overnight and more strikes and strikes on infrastructure as well, markets are not buying the idea that there is a sort of an off ramp anytime soon. I mean, look no further than oil prices. You have Brent right now up above one hundred and thirteen dollars a barrel, WTI hitting one hundred dollars a barrel. That's up close to six percent right now, and Brent up isabel what almost five percent today.
It's really been a wild in the oil market. But I'm wondering if we're a victim of our own quant system I'll go system, or just our own fear City release a note this week saying that selling off on Friday and buying back on Monday has been a recurrent pattern over the past few weeks because investors are just really worry of car and risk over the weekend because maybe they want to have a nice brunch session or hang out with their kids, but they buy at it.
Thank you so much, Kenye.
I appreciate that.
Yes, I feel like that's really maybe something we're seeing. The city also said conviction has been low because of course it's a headline driven market and it's really been tough to figure out this narrative.
Picking up on that, I wonder how inured we're getting to this, the way that all of this has unfolded. And Tim, I think your point is a very good one. What does the president say we're due next? We have this very specific ten day extension ending in eight pm East Coast time, which I think is three thirty am Tehran time on April the sixth. I just wonder sort of what power he has in this moment. I think that's what's been laid bare today as we've seen Israel
make those strikes on infrastructure in Iran. Today, I think the present fee feels like he's still calling the shots and running the show and determining how long this is going to last. But I will say from what I've watched over the last few weeks, he seems to have limited power in that regard there, especially as this warwide and skating.
And I'm sure you're going to be discussing something along these lines at seven am tomorrow and on Sunday. But it is interesting. I mean, you think about the potential endgames for Israel, you think about the potential endgame for the US. How much of a golf is there between them? That certainly is a big question. As this around war continues to deepen in terms of the timeframe, it's going to be interesting to see how all of this plays
out in the market. I keep going back to this note from JP Morgan basically saying that should oil trade at one hundred and ten dollars dollars per barrel for the rest of the year, that earnings estimates for S and P five hundred companies would be shed by as much as about five percent. And that really is one of the last sort of rallying cries of the bulls out there that corporate America still looks pretty good right now.
Tim, So that could be the view on what happens to earnings, But there's also a big political element to this. We had a great conversation with Joe Lovinger out of our Texas bureau earlier. He along with Jeff Mason out of DC, went to Seapack over the weekend and what they heard from people was a real difference in sort of their support for the president because of this war. But it reminds us that affordability is what this president ran on. It If oil stays high in affordability, things
don't become more affordable for Americans. I think, you know, Republicans really could pay the price at the polls come November. But before that is Bloomberg this weekend, seven am tomorrow so much. David Gera will be there along with Christina Raffini.
And hopefully you I mean watching yeah, comfort of the Peloton stee whatever.
I will definitely be watching out, definitely up on.
Your pelts on Bloomberg this weekend. It sounds like a great Saturday.
It does. It is going to be a great Saturday.
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