Stocks edge lower after yesterday’s market rout

Yahoo Finance Live’s Brad Smith breaks down how stocks are moving after the opening bell.

Video transcript

JULIE HYMAN: All right, we've got the opening bell here on this Tuesday morning for the major averages as we get a little bit further into December here. We've got F&G Group ringing the opening bell this morning, F&G Annuities and Life. And seeing a little bit of an indication for a lower open here this morning.

We had economic data yesterday in the form of ISM showing strength that led to some alarm, some conjecture over what the Fed might do, although the Fed's been pretty clear about its interest rates going higher. And so a big plunge yesterday followed by sort of treading water here today, as we get underway here, Brad.

BRAD SMITH: Yeah, that's right. Taking a look at the Dow Jones Industrial Average, let's take a look at the chart to see how exactly things are moving early in this trading week, or at least, on the former half, the front half of it. Taking a look at the Dow right now, over the past two days, it is down by about 1 and 1/2%. And that really coming after the selloff that we saw yesterday.

As of right now, out of the gate, we're down by about 1/10 of a percent, so 35 points in the red for the Dow. The NASDAQ composite, you're seeing that waffling right now here out of the gate, trying to find some footing. But it is oscillating in and out of gains and losses. And then the S&P 500, you're seeing that flat, just barely to the downside by about two points right now. Over the past two days, though, down by about 1.9%.

Let's take a look at some of the sector activity as well here that we're tracking early in today's trading. And we are pretty split here. We've got-- it looks about four advancers here for the S&P 500, 11 sectors. So more laggards than advancers as of right now. Energy is actually leading some of those declines. And then also, you're seeing some of the communication services stocks take a little bit of a hit here on the day. That's down by about 4/10 of a percent.

However, you've got some staples that are doing their thing, at least early in trade right now, up by about half a percent. So we'll continue to keep a close eye on that. Let's ride out with a heat map of the NASDAQ 100 there. Pretty mixed on the day, but it looks like more laggards than advancers right now.

JULIE HYMAN: Yeah, I noticed Peloton in the lower-- oh, along with Meta, too. Both of those down, like, 2%, 3% here this morning. Interesting stuff. All right. Thanks, Brad.