Stocks Close Lower, US To Enforce Hormuz Blockade, More
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This week on Leaders, with me, Francine Lacqua. I speak to tennis legend Rafa Nadal about how he stayed competitive despite injury.
I was able to enjoy the victories probably more than if I will not have this issue.
One iconic match.
In my mind was, I am almost dead.
And whether he misses playing.
I don't miss tennis because there was nothing else to offer.
Listen and watch Leaders with me, Francine Lacroix, on Bloomberg Television or wherever you get your podcasts.
News when you want it with Bloomberg News Now, I'm Amy Morris. And there's your closing bell for this Monday on Wall Street, where stocks and bonds move lower as a standoff between the U.S. and Iran lifted oil prices. We'll get into all of that just ahead. But first, let's check those closing numbers, which we bring you each day here at Bloomberg. The S&P 500 lost 60 points. NASDAQ lost 408 points. That's more than one and a half percent. The Dow is down 138 points. The 10-year Treasury yield at 4.61%, the 2-year yield at 4.26%. And the Philadelphia Semiconductor Index is down nearly 5%, led by NVIDIA. It was the biggest drag on the index, falling 3.52% in regular trading. The U.S. is ready to enforce a blockade of Iranian ports starting this Wednesday.
U.S. Central Command in a social media post says the military continues to support traffic moving through the Strait of Hormuz, saying that the blockade will impact vessels going to and from Iranian ports only. Iran says the agreement with the U.S. has, quote, undoubtedly entered a crisis phase. Former Chief of Staff to Vice President Mike Pence, now a partner at Advanced Strategies, Mark Short, says it doesn't look like there will be a deal with Iran anytime soon.
There's also enormous amount of mixed messaging that's come from the White House throughout this conflagration. And, you know, it was only not just a couple weeks ago the president said it's a great deal and we're going to get it done, but he actually even said, you know, he was allowing them the ability to repurchase weapons to defend themselves in
Former Chief of Staff to Vice President Mike Pence, Mark Short, on balance of power. President Trump told Fox News he wants a 20 percent reimbursement on all other cargo shipped through the Strait of Hormuz. Oil prices extended their gains after Trump's comments. WTI now nearing $78 a barrel. Brent crude at $83 a barrel. Delta CEO Ed Bastian says Delta will do just fine with higher oil prices and that oil will stay sticky for longer. He adds that the international travel season is looking very healthy.
Businesses, international, American Express, our loyalty programs, our cargo business, we have so many different lines of business, including here in the U.S., our domestic travel. It's all doing very, very well, and I don't see fuel prices deterring that.
How did Wall Street close and which indexes drove the market lower?
Here, our entire interview with Delta CEO Ed Bastian on the Bloomberg Talks podcast. Shares of Delta now more than 1% lower in regular trading. A U.S. immigration officer shot and killed a motorist in Biddeford, Maine, about 15 miles southwest of Portland. This is the second time in a week ICE officers have used deadly force. Maine Senator Angus King says DHS Secretary Mark Wayne Mullen told him that the agent opened fire after the motorist, a 26-year-old Colombian man, tried to run agents over. The incident is under investigation by Maine State Police, the State Department of Public Safety, and the Office of the Attorney General. A group of about a dozen states plans a lawsuit to block Paramount Skydance from buying Warner Brothers Discovery.
Sources tell Bloomberg the antitrust lawsuit is set to be filed in federal court. The deal would combine two of the five largest U.S. film studios and has been cleared by the Justice Department, but faces opposition from Democrats and many in Hollywood. FCC Chairman Brendan Carr.
Well, it's hard to see a real legitimate deal. anti-trust action. But of course, you know, I leave it to the anti-trust experts to weigh in on this. I did think it was interesting that there was a statement at least attributed to the California Attorney General that said that they would not sue if Paramount agreed to spin off CNN.
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