UK Markets open in 7 hrs 57 mins
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Markets in the green as energy and financial stocks lead gains

In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Yahoo Finance's Jared Blikre looks at the day's market gains, sector actions, JPMorgan Chase in the banking industry, travel stocks, and Nasdaq leaders.

Video transcript

- Here to kick things off is Jared Blikre with a closer look at some of these movers. Jared, what's driving today's action?

JARED BLIKRE: Well, it's the financials and energy. So the value trade is what's working today. And we are seeing that reflected in the Dow. That is up over 2%, 634 points today. But you can see over the trailing five days going back to last Monday's close, still down 1% here. And that's kind of the story. Markets are looking for a bottom. So are investors. And this is a two-month chart of the S&P 500.

I want to draw everybody's attention to this candlestick formation down here. This long tail indicates buying presence down at these lows, which was actually quickly reversed in the day. And that's kind of a good thing. We saw that rally come out late on Friday. But we've seen this before. We got another formation here. Another here. And guess what. Investors who were buying that dip are not getting rewarded for it.

So what happens? On a longer term basis-- and this is a three-year chart-- what stands out to me are some of these lower targets like 3,500. That is a big round number. Also a strong technical target. We could see the market get sucked down to there. And also keep in mind, the markets do not move in a straight line. So lots to look out for here.

Checking in on the VIX, it's hovering below 30. This is a three-year chart. And you see what a non-trending asset this is. And then the 10-year T note yield up 7 basis points. And in fact, the entire yield curve except for the shorter end is moving higher by about 7 basis points.

And here's that financial. JPMorgan is having their investor day. And let's take a look at what JPMorgan is doing. That is up 7%. And you can see really reaching a peak here, a plateau here, earlier in the day. Jamie Dimon having some, I guess, soothing words for investors, but also ratcheting up some credit standards just a little bit. So maybe just beginning to rein in some of that liquidity.

Also want to get a check of the travel space. And got some news from Airbnb. We can see it's up about one third of a percent. Kind of a choppy day. But they're going to be pulling out of China, their domestic operations there, according to CNBC. They're still going to focus on attracting Chinese consumers and travelers as they're leaving the country, though. So interesting to see that development.

And let's take a look at the NASDAQ 100 itself, where you can see Apple up 3%. Microsoft and Alphabet each up more than 2%. And Tesla up 1%. So we're looking at some gains here. But it is Monday. Sometimes you just get those bounce backs after a poor day, a poor week. So we'll have to see what comes of this. And we'll be bringing all of that to you over the next couple of hours.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting