UK Markets closed
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Market check: Energy rebounds, Tesla stock rises, China stocks get a bid

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Yahoo Finance’s Ines Ferre joins the Live show to break down how stocks are moving in early trading.

Video transcript

BRIAN SOZZI: Now let's get over to Yahoo Finance's Ines Ferre at the YFi Interactive. Ines?

INES FERRE: And Brian, looking at the markets right now, the Dow up 200 points. Let's take a look at the sectors because we are seeing energy rebounding. XLE up almost 4%. You're looking also at technology and financials, so quite a combination there of stocks of the sectors that are leading the gains today.

And if we just take a look at the Dow, we're watching Caterpillar and Boeing, some of the Dow leaders. And over on the NASDAQ, we are seeing Tesla up more than 3%. I do want to take a look at the semis, which the semis are seeing quite a bump. This is a space that had been really in a selloff mode recently.

And we are also looking at ARK Innovation components, a lot of these being in the green. The Chinese stocks seeing a bump after headlines of a stimulus plan in China. And I also want to mention what's happening with oil because we're seeing quite a bit of a rebound with oil today. We're watching WTI up more than 4 and 1/2 percent, sitting above $103 per barrel. And Brent crude, which just yesterday, during yesterday's session, had dipped below $100 a barrel for the first time since April, right now sitting above $105 a barrel, guys.

BRAD SMITH: Ines, while we have you here, you've been also keeping tabs on some of the interesting activity that's taking place within metals in this commodities landscape. What are you seeing there?

INES FERRE: Yeah, that's right. Metals, during the month of June, had really been tumbling. Let's take a look at copper because today we're seeing copper prices that are up. And this is because of that headline that I mentioned of a stimulus package in China. But if we just take a look at copper year to date, you can see this violent downturn that you saw here in June.

Of course, this is because of recession concerns, because of China's sluggish recovery after its lockdowns. And there's been a lot of speculation in the metals space. We saw copper reaching new highs earlier in March. It's off about 30% from its peak. We have also been watching some of the other metals.

If we just pull up aluminum year to date, it's down 13%. Remember in March, aluminum was going sky-high after the war in Ukraine sent prices higher. There's been a lot of speculation in this space. And over the last couple of weeks, investors have been unwinding some of their bets. And the fears of recession is really what's been driving these metals lower.

BRAD SMITH: Yahoo Finance's own Ines Ferre breaking all that down for us here on today's activity and the longer term. Ines, appreciate it.

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