Yahoo Finance’s Jared Blikre breaks down how stocks performed this week.
Video Transcript
JARED BLIKRE: Welcome back. Well, let’s get a quick check of the week’s action in markets with the YFi Interactive, where I’m looking at the Dow, up about 44 basis points today, but in the green for about 1/3 of a percent over the trailing five days. S&P 500 up a little bit more, putting in gains of about 1.8%. And the NASDAQ down just a smidge today, up about 2% for the week.
And what a week it was in the bond market. Looking at the five-year T-note yield– let’s get a line graph of that– that is up 20 basis points today, 43 basis points this week. Haven’t seen a jump that big since 2009. I don’t even remember what I was doing back then, but nevertheless, that was a long time ago. 10-year T-note yield up 15 basis points today, 34 for the week, and the 30-year up only 18 basis points. So can you say flattening? Because that is what the yield curve is doing.
Now let’s take a look at our sector action for the week. We see energy in the forefront. Crude oil up about 4% or 5% on the week. XLE up 6.6%. That is followed by materials. That’s where you’re going to find your commodities. Utilities up about 3/10 of a percent, and tech outperforming as well. That is up 2%. Looking inside the NASDAQ, kind of a mixed picture here, but we do see a lot of green, and importantly, in those mega caps. Apple up 6 and 1/2%, Alphabet, 4%, NVIDIA, 5%, Tesla up over 11%.
Now, not the best week for Chinese stocks. Depends on who you’re looking at here. Alibaba is in the green, but Tencent down 11%, as the bad news just piles on for a lot of these issues. Didi down 30%. And Yum China facing potential delisting. That is down 7%. Finally, I want to get a check of the travel sector, and we can see more green than red here. Carnival Cruise Lines bucking the trend, down 5%. So was Avis Budget Group. That’s down 7%, but United, American, Delta Airlines, all posting some modest gains for the week. Southwest, by the way, up the most that I’m seeing, up about 2 and 1/2%.
