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Stocks flat at the open, Tesla stock rises, Peloton stock gains

Yahoo Finance Live’s Brad Smith discusses how markets opened on Wednesday.

Video transcript

[AUDIO LOGO]

[MUSIC PLAYING]

JULIE HYMAN: We got the opening bell--

BRAD SMITH: Yeah.

BRIAN SOZZI: Oh, who's ringing that bell.

JULIE HYMAN: --on this Thanksgiving Eve.

BRIAN SOZZI: Ooh.

JULIE HYMAN: And--

[WALL STREET BELL RINGING]

BRAD SMITH: Got it out.

JULIE HYMAN: --look at there.

BRIAN SOZZI: Santa!

JULIE HYMAN: Santa and some elves are--

BRIAN SOZZI: Hell, yeah.

JULIE HYMAN: --ringing the bell here--

BRIAN SOZZI: All right.

JULIE HYMAN: --this morning along with the producer of the Macy's Thanksgiving Day Parade, which is definitely an annual favorite of me and my family.

BRIAN SOZZI: Did you know, historically, Julie, when Santa rings that opening bell at Thanksgiving, usually the Dow rises another 30% year end? Total kidding. I'm totally kidding. I'm just so excited to see Santa. Come on.

JULIE HYMAN: He probably does it every--

BRIAN SOZZI: So excited.

JULIE HYMAN: --year, so.

BRIAN SOZZI: Love Santa.

JULIE HYMAN: And for those of you who happen to be in New York City, one of the insider tips is you go the night before, you see the balloons being inflated, which is quite a cool thing to watch.

BRIAN SOZZI: Better than watching them get deflated. Yes.

JULIE HYMAN: Yes. [LAUGHS] The parade itself is also pretty darn fun. All right, there we see the market open. And it is not a very moving opening--

BRIAN SOZZI: Deflated.

JULIE HYMAN: --bell here. A little deflated out here on the opening bell this morning. In addition to the durable goods data that we got earlier, we're gonna have Federal Reserve minutes later on this afternoon. In between those, we're gonna get some data at 10:00 AM. So there's still some market-moving events that we'll be watching.

BRIAN SOZZI: Brad, did you see Santa? Did you see Santa?

BRAD SMITH: I see some green. I see some red. How about that? Is that--

JULIE HYMAN: Hey.

BRIAN SOZZI: Oh.

BRAD SMITH: Is that fine? All right, cool.

BRIAN SOZZI: [LAUGHS]

BRAD SMITH: Close enough to Christmas, we'll see if we get a Santa Claus rally going into the end of the year. As of right now, the Dow is just flat, barely to the upside to kick off today's trading activity.

Let me give you a quick look at one of the charts that we've got. And three-day, just to bring us into this abbreviated trading week. And really look at what's taking place over the course of this week.

As of right now, over the past three days, we are still holding on to net gains of about 1.1%. But then additionally here, just flat, barely to the upside out of the gate this morning. The NASDAQ Composite, you're seeing some green on the screen there, too. That's up by about 1/10 of percent.

And this is where it gets interesting. Out of the gate, we had a little hyper waffle for the S&P 500, where it's just barely registering. But have touched both sides of the trade already, just about 90 seconds into trade this day, this Thanksgiving Eve, if you will.

And then also taking a look at some of the NASDAQ. The biggest movers there. We've got, it seems more gainers than decliners. Here, we'll give you kind of a good look at the heatmap. And that is indeed true.

And we've got some interesting activity taking place on Peloton. Perhaps some people are hopping in, clipping in, if you will, prior to getting that Thanksgiving grub on.