Stocks Close Lower, McConnell Home, Hormuz Deal Bans US, More
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What sports and business stories open the Bloomberg podcast episode?
Have you ever wondered how Jesse Cole took the Savannah Bananas from this?
We had a $6 million failure last year. We're going to have bigger ones as we go. To this? We've got shareholders, investors I've reached out to regularly, and the answer is always no. Or why Elle Duncan would say this about a Netflix sports broadcast.
Sometimes we're going to take really big swings and we're going to freaking whiff.
Then the deal is the show for you. It's a Bloomberg podcast hosted by me, Alex Rodriguez. And me, Jason Kelly.
We talk to the biggest names in the world of sports and business, including NBA Hall of Famer Tracy McGrady on one of his biggest blunders. I think I've created something magical. Mm-hmm. Well, I struck out.
How did Thursday’s closing bell affect the S&P 500, Nasdaq and Dow?
And you'll even get some of my baseball hot takes. I've had owners tell me, It doesn't matter. The game has to be fixed. It's broken. If we have to lock out the whole year, we will.
New episodes air every Thursday. Don't miss out.
News when you want it with Bloomberg News Now. I'm Amy Morris. There's your closing bell for this Thursday on Wall Street where a rally in oil prices left stocks wavering and fueled some worries about inflation ahead of tomorrow's jobs report. We bring you the closing numbers each day here at Bloomberg. The S&P 500 lost about 14 points. NASDAQ down 15 points.
Why is Senator Mitch McConnell’s health update significant for the Senate?
The Dow is down 464 points. The 10-year Treasury yield at 4.66% and the 2-year yield at 4.24%. And some earnings to tell you about. Airbnb jumped 11% in the post market after broadcasting revenue for the third quarter beating estimates. And Sweetgreen Revenue missed estimates for the second quarter. Sweetgreen shares dropped more than 9% in the post market. Republican Senator Mitch McConnell of Kentucky has been discharged from rehab. McConnell has been absent from the Senate since June when he suffered a fall at home. A statement from McConnell says he will continue his recovery and physical therapy at home. McConnell is not running for re-election. Kentucky Governor Andy Beshear has demanded more transparency from McConnell on his health and his ability to return to the Senate.
We turn now to the Strait of Hormuz, where Iran's Fars News Agency reported Iran has struck hostile targets in the strait, as the parties wait for more details about the Iranian deal with Oman to partially reopen the Strait of Hormuz. That is reportedly in its final stages, with an understanding in principle reached. Iran's Fars News Agency says the deal would give Iran oversight of the waterway and reportedly says any nation that caused damage to Iran won't be granted a permit to pass through.
What is the status of the Iran‑Oman deal to reopen the Strait of Hormuz?
That includes U.S. and Israeli vessels that would be prohibited under this deal. Bloomberg White House correspondent Jeff Mason says President Trump has said in the past he wouldn't support that.
The United States has maintained that presence in large part to give him continued options with that blockade and just in general having forces in the region so that he can continue to make the threats even when he doesn't follow through on them.
Bloomberg's Jeff Mason on balance of power. Oil is higher. WTI crude oil closing in on $78 a barrel. Brent crude nearing $83 a barrel. President Trump has been speaking by phone with Kevin Walsh since he's become Fed chair. Sources tell Bloomberg News the two have talked multiple times since Walsh was confirmed in May. One source says the president has asked about forecasts and opinions, but has not pushed for a specific course of action. It is not clear if they've discussed monetary policy. The Financial Times reports Chairman Walsh plans to stick to a stripped-down public communications policy, even after the minimal details from his last rate decision sparked a Treasury sell-off. Bloomberg Economics Chief U.S.
How might Fed Chair Kevin Walsh’s communication strategy influence upcoming rate decisions?
Economist Anna Wong says Walsh has said he's not sure yet what he'll talk about when he attends the Jackson Hole Economic Policy Symposium
Typically, the Fed should be well underway, and then he should be redlining his speech right now. I think what he has to do in this speech is to reestablish the credibility that he has somewhat lost in the last five years.
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Chapters
7 chapters
1
What sports and business stories open the Bloomberg podcast episode?
0:00–0:41
2
How did Thursday’s closing bell affect the S&P 500, Nasdaq and Dow?
0:41–1:25
3
Why is Senator Mitch McConnell’s health update significant for the Senate?
1:25–2:41
4
What is the status of the Iran‑Oman deal to reopen the Strait of Hormuz?
2:41–3:46
5
How might Fed Chair Kevin Walsh’s communication strategy influence upcoming rate decisions?
3:46–4:57
6
What are the implications of the Senate’s contempt vote on Dr. Anthony Fauci?
4:57–6:19
7
How will the FCC rule change and the Head Start overhaul affect broadcasters and families?
6:19–7:52
Speakers
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