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Market check: Stocks drift lower on strong jobs report

Yahoo Finance’s Ines Ferré joins the Live show to break down how stocks are performing after the June jobs report was released.

Video transcript

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

INES FERRE: And Brian, taking a look at the markets right now. We are watching the Dow that's up 4/10 of a percent. The NASDAQ up almost 1%. The S&P 500 also lower. A lot of the action has been happening in the bond market. We saw the two-year Treasury yield go up 13 basis points after that jobs report. That inversion between the two-year and the 10-year, that deepened. And we're watching the 10-year note up seven basis points. The 30-year up about six basis points.

Taking a look at the sectors, of course, the market expecting now perhaps that the next rate hike will be 75 basis points, aggressive hike that Sozz was talking about. Well, we are watching communications services, materials, industrials, technology getting hit. Those growth stocks getting hit. We're watching the NASDAQ 100 here. You can see quite a bit of red on the screen right now. We're watching Amazon down more than 1%. Microsoft also lower.

Just taking a look at the travel stocks since I had that board up earlier, we're watching some red here as well. Airbnb, Expedia, Royal Caribbean, those are lower. And I just want to point out the semis because we did see-- oh, here we go. Yeah, Taiwan Semiconductor up more than just slightly. But this is after their sales in June came in better than expected. Finally, just mentioning what's happening with oil. We had seen WTI and Brent Crude higher, up about 1%, coming off of those highs right now, up just slightly. But you've got Brent up above $104 a barrel and WTI up above 103, guys.