Stocks set to erase losses from earlier in the week

Yahoo Finance's Ines Ferre joins the Live show to look at markets closing ahead of the bell, as well as the sector action, Nasdaq leaders, and the semiconductor industry.

Video transcript

BRAD SMITH: Welcome back to Yahoo Finance Live, everyone. Just seconds away from the closing bell. We've got about 90 seconds until the clock strikes 4:00 PM. We're taking a quick look at the major averages. And for that, let's bring in our colleague who's standing by here with a little bit more on what's taking place. Ines Ferre, she's got the breakdown going in to the close.

INES FERRE: Brad, we're set to close off the highs of the session, but nevertheless, the Dow up about 590 points. You've also got the NASDAQ that is up about 2.97% and the S&P 500 up as well. In fact, all three major averages are set to close, erasing their losses from earlier in the week. That's a four-day chart I just pulled up. Looking at the sector action, while the big helpers here have been communication services, technology, and energy stocks, on the NASDAQ 100, we are watching Facebook or Meta, which is in the communications sector. That is up 17% for the day.

Apple, which will be reporting its quarterly results today after the bell, up 5 and 1/2%. Amazon up also 4 and 1/2%. Looking at the Dow, I want to show you the laggards and the leaders for the Dow, the leaders being Salesforce, Merck, and Nike, the laggards being Amgen and Caterpillar after Caterpillar reported its quarterly results. Also want to point out the semiconductors. These are seeing a lot of gains today. Qualcomm, after a better than expected guidance, up more than 9%.