2:45
And right now we are two minutes away from the end of the trading day. Romaine Bostick here with Katie Gravelle taking you through to that closing bell. It's a global simulcast. Carol Massar joins us in the radio studio. Tim, send It back is off today. Emily in his place. Welcome to our audiences across all of our Bloomberg platforms, television and radio. Our partnership with YouTube. Another volatile day in U.S. equity markets. Carol Massar with stocks at one point in the session taking a huge plunge, lower the clawing back some of those losses into the close. Yeah, a sensitivity right.
In terms of maybe some of the stories that cross in the headlines out there. Having said that, despite, uh, a lower trade on the S&P 500 overall, the index average, you go inside. Emily keeps pointing this out. You've got more than 370 names to the upside. So investors are still out there buying. Yeah investors mostly today buying those consumer staples Home Depot JNJ. Those were really the companies leading the indexes and the Dow as well. We'll talk about the Dow for a second. It was in the green. Well that's good And that's why you did it. You're going to make Katy angry.
Only so much to gleam there. It is an interesting exercise in index math, though, because even though you do have more gainers than losers, you are seeing some strong buying in certain markets, pockets of this market. The fact that you have big tech and the chip makers really taking it on the chin. Uh, you're not going to be able to get that broad based gain at the index level. The S&P 500 is off its session lows, but still looks like it's going to finish up in the red here. Absolutely. Yeah. And we talk about some of the big gainers on the day a lot of them of course not the kinds that can really
move the market names like J.M. Smucker and Pool Corp., though I do want to point out that Fedex freight now on a four day run. Nevertheless, we get the closing bell in New York, and it is going to be a read for the benchmark S&P 500. At one point, it was down more than a percent on the day. It's going to close lower by just about 20 points, or roughly about a quarter of a percentage point or so. The Dow Jones Industrial Average is going to finish in the green higher by about 2/10 of 1%. And we should point out that so too is
the Dow transports up about 1.3%, the Nasdaq Composite and Nasdaq 100 each down by about a percent on the day, and the Russell 2000 posting a gain of about 12 points, or 4/10 of 1%. All right. So squeezing out a gain they're going back to the S&P 500. As we said earlier uh 371 names Katie to the upside within that index 131 to the downside one unchanged. Similar dynamic. When you take a look at the sector breakdown I think the circle is uh particularly interesting today as you can see, because big tech that is, uh, the big slice of red on your screen falling about 1.8% as a sector. And that's really responsible for the loss that we saw today.
Energy down two as well, but a much smaller constituent of, uh, just the sector makeup in terms of what actually led us higher today, some of the sectors that got us their real estate higher by 2% as a sector, materials, healthcare, industrials, overall nine sectors in the green. Carol two in the red. All right guys. So let's get to some of the individual gainers. We keep talking about these consumer staples stocks. Um SJM uh J.M. Smucker. Yeah. Um, I find JM I have one this morning actually. Did you really?
Yeah. Um, it's for the little one. Yeah. Um, having said that, this one is your number one gator in the S&P 500, so it's up, uh, almost 11% here in the session. Um, and you did see the company's organic sales and adjusted EPs beat expectations for the fourth quarter. The company also said it expects the board to maintain the current dividend policy, which is to return approximately 40 to 45% of its annual adjusted. Um, sorry, I got stuff popping up on my screen. Kind of hate when that happens. Um, uh, to maintain the current dividend policy. So returning 40 to 45% of its annual adjusted earnings per share to
shareholders, reflecting dividend growth consistent with future earnings. It also plans to lower some coffee prices next year as the cost comes down. So Yahoo on that one. The company expecting net sales to decline next year between 3 and 4% when it reduces those prices as it passes through lower costs on green coffee to consumers. So thank you so much, Jim Smucker or J.M. Smucker for that one. Hey, let's go on to some M&A activity today. We're talking about Nouvel ET. Uh, that ticker Nouvel that one certainly soaring in today's session up almost 40% in the trade. This is after GSK uh, agreed to buy the
company for 10.6 billion. So they're basically getting a U.S. biotech company that's developing treatments for lung cancer as part of GSK's efforts to rebuild its oncology, excuse me franchise. So GSK paying $124 a share for new Valeant. That's a 40% premium over the company's closing share on Monday. So, uh, pretty much investors bidding up the stock price makes sense, uh, to that 40% premium. Uh, so we're just kind of keeping a watch on that. We do see that some of the big tech, not big tech, but big, uh, pharmaceutical picking up some of those biotech names to build out their pipeline. And then I think this was to Tim, talk about this one yesterday, mission produce, produce that went up more than
7% in today's session, rallying the most in 18 months. It's an avocado supplier. And it's said fruit supply has normalized and per unit margins are recovering after an unusually high avocado supply environment during the second quarter. And the company also reported revenue for the second quarter that exceeded expectations. So hoo ha! When it comes to avocado, it is a small market cap company just under $1 billion. All right, Carol, do you want some chips? I do, with your avocado. Nicely done. We're talking about the chip trade, but not tortilla chips. We're talking about semiconductors. Big selloff in tech names today. We had actually saw a little bit of a rebound. At least in Nvidia.
The stock was down as much as 4.5% today. But it did pare those losses. Still finishing the day in the red. Just part of a broader sell off for the tech heavy names here the Nasdaq 100 down. And this was the second time, uh, counting Friday that we've seen, uh, a big tech selloff here with chipmakers leading the decline. Another chipmaker that fell was Marvel Technology. This is another semiconductor name. It's been a wild ride for this stock. It was actually up 9.6% yesterday as investors got excited that it's going to be joining the S&P 500 today though it's sold off perhaps on some profit taking uh, after that rally yesterday.
And then also just on that broader trade of investors exiting chip stocks today. And then finally sale point. This is another tech name but this is a software company. They reported earnings showing stronger than expected revenue. The full year forecast was raised on key metrics, but overall may not have been robust enough to extend recent strength in the stock. The stock is up nearly 70% off an April low, but it's down about 7.6% today. All right let's take a quick look at yields. They were actually down. And it kind of gets to the big back and forth that we continue to see in all the
cross asset markets here are basically about 3 to 4 basis points across the curve. And a lot of that, of course, uh, Katie was tied to the drop that we saw today in crude prices down basically about 3% for both WTI and Brent crude Brent crude settling just below 92 bucks a barrel. Well, I do have some breaking news in the form of Cracker Barrel earnings crossing the wire right now. Uh, Cracker Barrel boosting its full year revenue forecast, beating estimates. Here they see full year revenue between $3.27 billion to $3.3 billion. The estimate had been for 3.24 billion to 3.27 billion, so upbeat their third
quarter adjusted EPs coming in at $0.29. Uh, there had been an estimated loss per share of $0.47. So a lot of good news here for Cracker Barrel. And you can see that reflected in shares right now. Moving solidly higher after hours. Critical bear Cracker barrel has been through a lot when it comes to their share performance. Remember they had that big logo controversy last summer. But for 2026, I'm making a little bit of a comeback. Yeah, interesting to see some of the commentary here about the relative strength of the consumer. Uh, and will be interesting to see whether what we get out of these restaurant companies is a broader read on the state of things I do want to just
point out to, as we were talking about, that, the city CFO speaking at a conference, also saying that the US economy and consumers have shown resilience. All right. Well, speaking of resilience, can we talk about the Knicks? I know I assume the reason why 10% of X out here is he's, uh, nursing himself in a non-alcoholic beer this morning because of the loss last night. But somebody is not losing. And that is actually, uh, the owner, uh, of the New York Knicks, Jim Dolan. Uh, and I'm just going to read the headline. This is not my opinion, but it says Knicks booze fortune of New York City's most hated owner by $450 million.
Uh, it's no secret, uh, a lot of people have issues with Jim Dolan, but the stock of Madison Square Garden, uh, sports up more than 40% on a year to date basis, partly because of the Knicks, uh, winning streak, but also the idea too. There's been a lot of talk that he might actually gonna separate these out into two separate companies. Remember, MSG owns, uh, both the Knicks and the Rangers. The idea is he wants the Knicks to be their own separate stock. And the Rangers the New York Rangers, the hockey team will be their own as well. There's something in this story for everyone. The Knicks, of course.
The performance there, the potential for a potential, uh, you know, spinoff. We know that has been hot when it comes to the stock performer. There's any here to do it. Isn't this it? This is just like with Iron Man and, uh, Dolan himself. You mentioned $450 million added to his now many hats you can buy with that. That's a well, his net worth is now $1.9 billion, according to the Billionaires Index of Bloomberg. So, yeah, there you go. A lot of hats for Jim Dolan. All right. Good stuff. Good year for him right.
Yeah. And we'll see you at home only. Do you have any thoughts on this on how many hats are you could find did you watch the game. Totally. I did watch the game. Yes. I want to bet it. How were you? How many seats over from Derek Jeter? Were you? Yeah, just like six seats over. Yeah, whatever.
