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Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Dan Curtis on a morning where the broader market looks like it's not moving because of the outage at CME Group. As it turns out, CME Group is a publicly traded company. So Dan, how CMME Group looking this morning?
Good morning, Good morning. Yeah, as you said, it's it's been hard to get some of the some of the prices that we want. But for CMA Group shares themselves stick or CME, they're down just less than one percent. As you know, as you've been talking about, as the financial world has been discussing overnight since it happened around nine thirty ten pm New York time last night, the exchange operator has halted its trading in futures and options.
It since opened up it's broker Tech US actives and broke Tech EU platforms, but all others are still halted. It comes on, you know, a day where a lot of people probably weren't going to be going into the office anyways. Especially in the US, the day after Thanksgiving
tends to be light days. Obviously, this is not fun for anyone who's going through it, But I think if you had to pick a day for an exchange to go down, a super low volume day like today would probably be about the best day for a bad thing to happen. So, you know, it's something everyone's kind of, you know, trying to figure out pricing on a lot of things. But the Cmgroup CME Group Shares themselves just shrugging them off. Down less than one percent.
It's going to make cash trading all the more important for those who do have to come into work this morning. A lot of tech stocks on your list, starting with Oracle.
Yeah, Oracle, It's down a little bit over one percent in the pre market today. Morgan Stanley has come out with a note warning that the tech company is facing a funding gap as it spends money to build out its AI infrastructure. Oracle has borrowed eighteen billion dollars from the debt market in September. That's on top of bank providing tens of billions of loans linked to Oracle projects
over the past months. So Morgan Stanley's saying, this is a lot of money for Oracle to be taking out taking out, and right now it looks like, using Wall Street estimates, about half of Oracle's revenues over the next year are going to go directly into capital expenditures, so reinvesting into this buildout. So this company's putting out a lot of cash to try and build out and expand into this AI race, and Morgan Stanley's just wondering, you know,
if it might be just a bit too much. That has investors kind of debating that side of you know, how much is this going to impact the stock that's down one percent as well as debt. So we also have the insurance against Oracle's debt called a CDs that's trading out relatively expensive prices. So if you're to hedge against a default over the next five years, it's about as expensive as it's been since the global financial crisis, so nearly twenty years ago.
And we have a build out that's affecting sand disk stock as well, or at least a talk of a buildout anyway.
Yeah, there was a report that Japan and the US are considering building out a memory plant for one of the types of chips that sand Disc makes. Sand Disc would be a main investor in the project. There's been a lot of large demand for memory chips in the AI race. The whole space has been exploding. Prices of these chips themselves have been going very high. And on top of that, you know, just as a fun thing to note, today is sand Disc's first day on the
S and P five hundred. Welcome to the S and P five hundred sand.
Disc, okay. And another chip maker on your list as well, Micron Technology.
Yeah, Mike Ron, that's also up higher again. It's just on the back of this memory demand. We've seen memory prices just skyrocketing, keep going up really high. It's going on. It's just this massive boom again around the AI space, and I still see. Just to circle back to something earlier, CME Group has just said that the EBS market will reopen at twelve o'clock. GMT shares are still down about that two thirds of a percent after that announcement.
The Stockmover's report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.