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U.S. dollar rises, bitcoin sinks, Tesla and Amazon stocks under pressure

Yahoo Finance's Ines Ferre joins the Live show to break down how stocks are moving in midday trading.

Video transcript


BRAD SMITH: Welcome back to "Yahoo! Finance Live," everyone. We've reached this, the top of the 10:00 AM hour. Brad Smith here in studio with Julie Hyman. Brian Sozzi on assignment, as we'll say, from home today. Happy Friday to you all here on this jobs Friday. Let's take a look at where the markets stand following that jobs report earlier, which was just a little bit hotter than expectations.

We're taking a look at the Dow, the NASDAQ and the S&P 500-- all lower on the day. The Dow is lower by a little more than 480 points to the downside of about 1.6%. The S&P 500, you're also seeing that deep in the red right now by roughly 2% that looks like. And then additionally, the NASDAQ composite-- you're seeing that down by about 312 points.

And taking a deeper dive into that jobs report, of course, later on in this show, we're going to have Secretary of Labor Marty Walsh going to join us momentarily to get reaction from the White House. So stay tuned for that conversation.

Plus, it's jeans Friday wherever you find yourself in the world. But Levi's under pressure this morning after the denim maker cut its outlook. We're going to speak to the company's CFO to discuss its latest earnings report as you get ready to put the jorts away.

And in an unprecedented move in the movie world, Netflix is set to show the "Knives Out" sequel in major theaters one month before its streaming release. We're going to discuss what that means for the streaming space. All of that and much more coming up during this 10:00 AM hour. But for much more on today's markets, let's get on over to Yahoo! Finance's Ines Ferre as we're about 30 minutes into today's trading session. Ines, on over to you.

INES FERRE: And Brad, you mentioned the losses after that jobs report, and we are still seeing the S&P 500 down 2% But if we just pull up a five-day chart-- because of Monday and Tuesday's rally, we are set to end the week in the green for the major averages because of those days, if we stay at this pace. Let's see what happens throughout the day.

Looking also at the 10-year Treasury note, that's higher, up seven basis points at 3.9%. We saw that 10-year Treasury yield go higher after that jobs report. Also, the U.S. Dollar Index-- that moved higher after the jobs report as well.

Want to point out what's happening with Bitcoin because we did see Bitcoin moving to the downside earlier. And then looking at the sector action, we're watching the high-growth names that are really under pressure. So you're watching tech, consumer discretionary. Materials are leading to the downside.

Over on the NASDAQ 100, the mega caps, as I mentioned-- Tesla down 3%. Amazon also lower. Nvidia down 5%. And the semiconductors are really seeing some pressure today after that revenue warning from AMD.

Finally, I want to mention what's happening with the homebuilders because of higher interest rates and how this affects the homebuilders. Well, you're looking at them in the red right now, especially homebuilders and also companies that have to do with mortgages, guys.