Stocks rise in early trading, EV startups get clobbered year-to-date

Yahoo Finance's Ines Ferre gives an outlook on the market as stocks trade higher ahead of the Fed meeting and electric vehicle startup shares are embattled year-to-date.

Video transcript

- Let's show you the NASDAQ 100 on our YFi Interactive Board. A lot of green here, especially on the left-hand of the screen, where you can see the mega caps are in the green. You've got Microsoft up more than 4%, Tesla more than 4% ahead of its quarterly results after the bell. And speaking of Microsoft, I do want to show you the software space, because we're seeing a lot of these software names that are also higher today, as well as the semiconductors. Take a look at Nvidia, up more than 4% today.

I want to show you Ark Innovation ETF, the holdings there. Today they're seeing green. If we pull up a year-to-date chart, though, these names still underwater year-to-date.

I also want to mention the electric vehicle space, because I had mentioned Tesla. I'm still on that year-to-date chart. Take a look at the equal-weight and some of the names that have been underperforming since the start of the year, or losing the most year-to-date. Rivian down 39%, ChargePoint, QuantumScape, some of these companies that went public last year, a lot of money flowed into these companies. Rivian, in fact, had a market cap of $153 billion on November 16. Today it's at $55 billion. Sozz?

BRIAN SOZZI: All right, thanks so much, Ines.