Stocks trade lower at the open as debt ceiling pressure escalates

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

Video transcript

BRAD SMITH: And was really trying to pull up a chart that would kind of give us a look at that groove or move lower here. Dow Jones Industrial Average over the past four days-- five days, actually, down by about 4/10 of a percent. 2/10 of a percent lower, as you mentioned, out of the gate this morning.

The NASDAQ Composite, though, here still holding onto some gains over the past five days. If you kind of look at this on the week basis-- of course, we're here on Tuesday and ultimately right now down by about 3/10 of a percent over the past two days. NASDAQ Composite, you're seeing that lower by about half a percent for the tech-heavy average. And the S&P 500 past two days or over the course of this week at least, you're seeing that down by about 4/10 of a percent and about the same on a percentage basis here this morning.

Let's take a look at the 11 sectors of the aforementioned S&P 500. Wow. All right, they're all in the red. Energy is the worst of the performers while financials were second to go here, but both of those down by about 8/10 of a percent here. So we'll continue to watch both of those. But all 11 S&P 500 sectors in negative territory here. Do not adjust your screens at home here.

Let's take a look at the NASDAQ 100 for the tech-heavy average. Some of those mega-cap tech stocks also in the red, fractional moves lower. Google, though, bucking the trend here, saying, hey, we could do a little something in this environment. It's up by about 1.1% here this morning. And then just taking a look at the rest of the NASDAQ 100. Yeah, largely in the red. Lucid and PayPal, which we'll get to right now, pulling up the caboose.

JULIE HYMAN: We are going-- but can I get you to call up regional banks again--

BRAD SMITH: Yeah, sure.

JULIE HYMAN: --like I keep asking you to do. We did yesterday. I'm just curious what they're doing today. Oh, back down once again after we saw that rebound yesterday. It is not continuing. PacWest down it looks like about 6%.

BRAD SMITH: Yep. Western Alliance, also you're seeing that down by about 5% this morning.