Stocks trade higher at opening bell to start trading week
Yahoo Finance Live’s Brad Smith breaks down how stocks are trading following the opening bell.
JULIE HYMAN: Let's begin with the start of today's trading activity. Stocks, obviously, have been sort of wavering as of late, looking to attempt a rebound in today's session. As we look ahead to the week, well, we do have some economic data coming on tap. We've got pending home sales coming up at 10:00 AM. We do not have the jobs report this week. Rather, it's not on the first Friday this time, it's on March 10.
[WALL STREET BELL RINGING]
So that's something that investors are looking ahead a little further to. You see S&P Global, our friend Doug Peterson ringing the opening bell here on this Monday morning here, as stocks are attempting a comeback from the declines that we have been seeing as of late. So we'll see if they can hold on to them.
We were talking about at the end of last week sort of what has led the way downward in this latest downdraft that we have seen for stocks. And it's sort of a mixed bag of groups. But communication services on that list of groups that has been weak among others. I think that real estate was on that list, as well, as we have seen rates move up, a lot of money pour into bonds, and at least some of that money having come out of stocks. But that's changing today. We'll see if it lasts beyond today, Brad. But yeah, we're seeing a little bit of a bump today.
BRAD SMITH: Yeah, we will see if this holds up. Right now, we are up by about 6/10 of a percent on the Dow Jones Industrial Average. And since you mentioned last week's activity, I wanted to give our viewers a look at exactly how we've been trading coming into today's trading activity and the start of the session.
Net, we are down over the past seven days by about 3.2%. Now, that takes us past last week and even the week before just by a blippity-blip. So ultimately here, as you're taking a look at that chart, keep that in context here of where we have been moving over these recent seven sessions or so.
Also, over those past seven sessions, you've seen the NASDAQ Composite move lower by about 4 and 1/2%. Here, today, though, out of the gate, some strong activity. We're up triple-digits, 125 points on the NASDAQ. That equates to about 1.1%. Also on the S&P 500, you're seeing that higher in the green by about 8/10 of a percent. Rounding out that hat trick, the trifecta, the triple double, whatever you want to call it, call it up. However, the past seven days, down 3 and 1/2%.
Let's also take a look at the sector activity here as we begin a new trading week here. And this the final couple trading sessions of February here. And so as we're taking a look at the move out of the gate this morning, we're seeing green across the screen. It's looking pretty good here, folks.
Taking a look at XLI. Those industrials leading the charge, up by about 1.3%. Right behind it, you've got real estate and consumer discretionary here. Energy is the worst of the best. However, it's still in the green by about 1/10 of a percent.
And lastly, we'll round out with a look at the NASDAQ 100. Not too much red to be seen there, Julie, here. But taking a look at some of those megacap tech stocks, you've got Apple up by about 1%. Microsoft about the same there on a percentage basis. And then, additionally, Tesla, of course, we were talking about that big investor event that's taking place this week, starts off the week up by about 2.7%.
JULIE HYMAN: Yeah, interesting. I guess there's some optimism ahead of that event.
BRAD SMITH: Maybe Cybertruck? Maybe Cybertruck?
JULIE HYMAN: The master plan.
BRAD SMITH: Yes.
JULIE HYMAN: The master plan to rule us all.