Market check: Stocks pare losses, energy stocks fall

Yahoo Finance's Emily McCormick examines stocks attempting to make up intraday losses while heading into the final trading hour of the week, in addition to looking at crude oil and energy prices and Chinese stocks.

Video transcript

SEANA SMITH: Let's take a look at the markets here because we're seeing some buying action after what has been a pretty painful week here across the board. All three of the major averages in the green right now, as we head into the final hour of trading. We're seeing leadership from the tech-heavy NASDAQ, the NASDAQ up nearly 2%. Emily McCormick has a closer look at some of these movers. Emily.

EMILY MCCORMICK: Well, Seana, stocks are attempting a bit of a rebound this Friday. And I do say a bit since we are still on track for steep weekly losses. Now if we head right over to the Yahoo Finance Interactive, you can see the S&P 500 up about 0.7% on an intraday basis, although, again, if we take a look over the past five days, still down by about 5%. So that is going to be the weekly loss we're looking for, if these levels hold into the final hour of trading.

Now I do want to highlight one move that we're seeing outside of stocks, and that's in energy prices, and specifically, energy commodities like crude oil prices. Now West Texas Intermediate crude oil actually fell below $109 a barrel at its intraday lows today. That is about the lowest level that we've seen over the past month now. So seeing some of these energy commodities, as well as energy stocks moving lower, as these recession concerns continue to be a hot topic right now in markets.

Now I do want to highlight what we're seeing in terms of the sector action inside of the S&P 500. Again, seeing the energy sector leading the way lower, down about 4.4% on an intraday basis, whereas on the flip side, we do have communication services, as well as consumer discretionary and information technology leading to the upside. So these tech stocks are attempting quite the rebound during today's session. Now, similar picture when we take a look inside the NASDAQ 100, quite the opposite from what we saw yesterday. Now a majority of these names are in positive territory, led by many of those megacap tech and growth names, such as Apple and Amazon.

And then finally, I want to give a quick overview of what we're seeing in the US-listed Chinese stocks as well. Again, quite a bit of improvement there, compared to what we saw yesterday, and also seeing Alibaba especially moving higher by about 2 and 1/2%. And that's coming after a Reuters report this morning that Ant Group, which Alibaba holds a stake in, is reportedly set to receive approval from the People's Bank of China to set up a financial holding company. So whether you're looking at domestic equities or international stocks, seeing a bit of a rebound being staged here at the end of this week, guys.

DAVE BRIGGS: Fantastic. Emily McCormick, appreciate that so much. Enjoy the week--