Deep Dive
Shownotes Transcript
Hi there, I'm Tracey Alloway. And I'm Joe Weisenthal. We are introducing you to the new Stock Movers podcast from Bloomberg. The show brings you short episodes, five minutes or less, covering the stocks making gains and losses in today's trading. Subscribe to Stock Movers on Apple, Spotify, or anywhere else you get your podcasts. Now, here's a sample of the latest episode from our team at Bloomberg.
Bloomberg Audio Studios. Podcasts. Radio. News. The Stock Movers Podcast. Your roundup of companies making moves in the stock market. Harnessing the power of Bloomberg data. Let's take a look at some stocks on the move this week. In the week that was, a little bit of a crazy one and some volatility. Emily Grafeo has the hard task of keeping track of it all. She's Bloomberg News cross-asset reporter and she's joining us in studio.
We got to start with the number one performing stock in the S&P 500 this week, Newmont. This is so emblematic of the safe haven asset that gold was this week. In a week where stocks were extremely volatile, treasury bonds didn't quite work as that safe haven asset that they typically are expected to, gold kept hitting record high after record high.
Gold miner Newmont actually had its best week since 1998. That's nuts. What? That's nuts. What are we talking about? Should I go into my jewelry box and sell my gold? And start, I mean, it was. Did I? No. I know. You think about, eh, that's from an old boyfriend. I'm not going to wear it anyway. I'm getting rid of it. Excuse me. I want to hear this story. Do you?
I don't know what it is with guys and girls. Like anything I've owned before my husband. I mean, it's been a long time. You kept? Well, there's like maybe one or two. He's like, no. I don't think I've gotten gold. Love this. You know, I'm young. The guys are young. I've gotten like silver. So I'm like, I'll get rid of this. Shorts on platinum? No. Okay. Anyway, continue. As long as it's not uranium, right? Right. Yeah. No, you wouldn't want to put that on your skin. We talked about uranium earlier this week. So that's why I bring it up. Uranium jewelry? No, uranium stocks. Uranium stocks and ETFs. I wasn't sure where you were going. Carol.
When Emily Griffiths announced, we're always talking stocks. I know. We also get a little cuckoo. She goes cross-asset. She does ETFs. She does everything. I know. And, you know, Newmont is kind of, it's cross-asset. It is a stock, but it's representative of one of those assets that did really well this week. Anyway, it was up 8% Friday, up 24% on the week. It ended the week with an upgrade over at UBS. So they hiked their price target both for Newmont, the stock, and also for Goldfine.
And they said that the macro backdrop for gold is increasingly more supportive. All right, let's go to NVIDIA. Okay, NVIDIA, I'm going to go over... Also a top performer for the week overall. It was a top performer over the week, but...
It was up on Monday. It was down on Tuesday. It was up 18% on Wednesday. Then it was down 6% Thursday. It finished Friday. It's like a roller coaster. It's really a roller coaster. I mean, this is a stock that everyone watches. So not only is it trading on its own fundamentals, but it's also trading like the poster child for how are risk assets doing today?
Can I just say it's down 17% year to date year to date? Yeah. 17%. I think we all forgot about the deep seek. Yeah. Right. News that happened before tariffs. But I have heard a couple, I've seen a few notes where analysts mentioned like, well, don't forget about the fact that all of these questions about the impetus for spending on AI and the
you know, how much demand is there really going to be for AI post deep sea? I mean, there are so many questions about that for the company this year. You mentioned deep seek. There's the China, everything happening with China. And then of course there's also, like you said, demand when it comes to us companies and the reports that we've gotten about us companies pulling back on data centers. Yeah. You forgot the biggest stress point. What is it? What will be Jensen's next leather jacket? No, no,
It's going to be a leather jacket. It's going to be a leather jacket. But what's wild is one of the best performing the S&P. So up around a little bit more than 17% for the week. Overall, it's still down 17% year to date, which is just reminds you how rough a year it's been. Right. Right. And it ended the week positive. But just like the S&P 500, there were a lot of twists and turns there.
So you wouldn't expect that we would have... It doesn't feel like we ended the week up, even though we did. You mentioned the end of the week. We were all looking forward to the end of the week because the big bank earnings started. And it's safe to say the one that we always want to see what they're doing and what their CEO is saying is JP Morgan. That's right. That stock was up on the week. It was up 12%. This is the biggest U.S. bank. And it was interesting because in their earnings, they...
They had record equity markets revenue. It rose 48% to a record 3.81 billion. This wasn't even counting the trading of this week because this was the prior quarter. That's a good point. So I thought that was an interesting tidbit. I'm sure that those equities traders made a lot more this week. And then, of course, Jamie Dimon, CEO, a top of JP Morgan, he...
is pretty vocal about his views on the economy. And he struck a cautious tone. He also said he expects a, quote, kerfuffle in the U.S. Treasury market that would prompt a Fed intervention. Which made me think about the book Nuffle Bunny. Did you ever read that? Oh, yeah. There's a little statue. It's a great kid's book. There's a Nuffle Bunny statue at the library in Park Slope. I love Nuffle Bunny. How cool is that? Not a kerfuffle, but it's a Nuffle Bunny. We have Goldman coming up next week. So that's another one that our Bloomberg listeners are very interested in. Mo Willems. Remember, Mo Willems is the author. I love Mo Willems. All right.
Emily, thank you so much. Emily Grafeo, Bloomberg News cross-asset reporter. The Stock Movers Podcast 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.com, and on Apple CarPlay and Android Auto with the Bloomberg Business app.