00:00 Brian
Now let’s take a look at some of the today’s trending tickers. Brooke, what are you watching at the Nasdaq?
00:05 Brooke
Brian, well, certainly I’m watching all three major indices see a bit of a sell off this morning. We have the Nasdaq leading that momentum lower. The Nasdaq down more than 400 points at midday trading session here. The Dow also down about 400 points and the S&P 500 down more than 1%. As you can see, a bit of a sell off here. That’s largely led by a rotation out of tech. Taking a look at what exactly is moving within the Nasdaq.
00:30 Brooke
We do have Nvidia on track for its lowest close in roughly three weeks. We also have Broadcom moving lower. Tesla down more than 5% the last time I looked, and that stock if it stays more down more than 5.15% today, that’ll be the worst day for Tesla since July.
00:46 Brooke
Now trading down about 6%. Also, Palantier, they’re on track to see their lowest close since early October. Keep in mind, we did chat with co-founder and CEO Alex Karp earlier at Yahoo Finance Invest about the valuation of the company and the future of AI.
01:05 Brooke
But I also want to take a look at Disney because that is dragging the Dow lower. It’s down more than 9% today after the company missed on revenue, now nearly 9% hovering around that after the company missed on revenue in Q4 around weakness in its linear TV business. And also executives weighing in on the call about that potential deal with YouTube and the executives had said that this could go on for some time, and certainly we’re looking for a deal there and investors seem seem to be waiting as well. Back to you, Brian.
01:34 Brian
Brooke, thank you. And Nez, over to you.
01:37 Inez
I’m watching crypto right now, Brian. We’re looking at Bitcoin that’s hovering above 100,000 per token. uh struggling to really make a meaningful comeback since that sell off that you saw in October. Ethereum and Solana also slumping. The sell off in equities of course, isn’t helping that rotation in tech that Brooke was talking about is not helping. It’s also not helping the Bitcoin miners that have pivoted to AI. Those are under pressure
02:00 Inez
today, Bit Farms, one of the largest Bitcoin miners in the US. Uh their latest quarterly revenue missed estimate, but the company revealed a plan to wind down its Bitcoin mining operations and pivot fully to AI. So this trend that we’ve seen with other companies because of competition, price volatility and Bitcoin’s having events that uh are cutting rewards, their margins have been squeezed. And so these uh companies are turning their data centers to service the AI boom and it has paid off because these these companies that you’re seeing on the screen right there, year to date, they’re up double digit percentages and in some cases triple digits. So
02:37 Inez
they this pivot has paid off. Finally, want to mention uh newly uh announced IPO plans for Grayscale investments. That’s a digital asset uh manager management company and they’re in charge of grayscale Bitcoin ETF. You’ve heard these before, the grayscale Ethereum ETF and uh more than 40 products uh that give exposure to about 45 tokens. They will be going public. This is a big deal because this goes with the theme of crypto and crypto adoption here in the US as digital assets and mainstream finance, those are merging. Brian.
03:12 Brian
All right, thank you, Inez. Allie, you’ve been tracking a lot of the activity on social media.
03:15 Allie
Yeah, sure have, Brian. And there are a few key stories that are standing out on my feed right now. First being the government shutdown. This US shutdown, the longest in history, 43 days, it’s finally over and we have been asking guests throughout the day how the shutdown has played into their worlds.
03:34 Allie
And Brian, you spoke with Ted Leonsis, who runs a massive sports Empire in DC, Capitals, Wizards, Mystics, Capital One arena, Monumental Sports Network all under his leadership. and he had a lot to say about the shutdown. He told us that his teams stepped in during the shutdown offering free game tickets and dining credits to federal workers, also donated $100,000 to a local food bank. He said the teams feel the impact directly because they employ thousands of people in the community.
04:06 Allie
He is very happy at this point that the shutdown has been resolved, although he did say that the government is only funded through January. So he hopes at that point cooler heads will prevail. But it’s not just the shutdown making waves on social media. We also have some big news in the sports world. So NBC Universal, which is owned by Comcast is launching a new cable sports network on Monday.
04:23 Allie
Now, this channel will show games currently on Peacock. That includes the NBA, Big 10 Football, Premier League and likely Major League Baseball once an official uh right licensing deal is finalized there. And this comes as NBCU plans to spin off most of its cable properties with the exception of Bravo into a new publicly traded company that it’s called Versant.
04:47 Allie
So just yet another example of the wild changes that we’re seeing within media that’s making its waves on social. And then finally, Starbucks. It is Red Cup Day today. This is typically one of the busiest events for Starbucks, but that’s not what’s trending right now. It’s actually the strikes.
05:03 Allie
Unionized Starbucks workers in at least 40 cities are walking out with 1,000 baristas across 65 stores participating. Now, they’re pushing for better pay, more consistent hours and a resolution to ongoing labor disputes. The union saying that the strike could continue into the coming days, which will hit Starbucks peak holiday season. That’s not something that shareholders want to see with shares down around 5% since the start of the year. So
05:30 Allie
those are just some of the top trending stories on uh social media right now. And as a reminder, we are streaming live globally on Tik Tok, YouTube, Facebook, and if you don’t catch us live, you can catch us anywhere that you get your Yahoo Finance content. So Brian, we’ll send it right back to you.