Yahoo Finance’s Ines Ferre checks out markets closing this week in the green, the bond market action, the consumer discretionary sector, semiconductor stocks, and crude oil pricing.
Video Transcript
SEANA SMITH: We’ve got about 2 minutes here until the closing bell. Looks like we are going to hold onto gains. Dow and S&P both up just about 1%. Ines Ferre has a closer look. Ines.
INES FERRE: Yeah, Seana. Just taking a look at the market action today, a choppy session that we saw throughout the day, but it does look like we are going to end today in green, with the Dow up just over 280 points, the S&P 500 up almost 1%, the NASDAQ up 8/10 of a percent.
You’ve got Amazon over in the NASDAQ that is in the green. But consumer discretionary stocks, make no mistake, this past week, had gotten hammered. Consumer discretionary got hammered last quarter and for the first half of the year. Yesterday we recapped what was going on for the first half of the year, and consumer discretionary was by far the underperformer for that first half.
Taking a look at where we’re at with bonds, the 10-year Treasury today going below 3%, seeing its biggest weekly drop since March. The five-year Treasury also moved lower. And then looking at the semiconductors, the semiconductors today were in the red. And now, the semiconductors are seen as a sort of barometer for the broader market.
Micron’s profit warning weighed on the sector. Micron warning about demand for chips cooling. And, of course, all of this with concerns of a recession sent these semiconductors lower. Taking a look at where we’re at with oil today– oil was up today. You did see WTI up about 2.5%, just up above $108 a barrel. Brent crude up 2%, just above $111 a barrel. So supply concerns really outweighing demand concerns.
Add Comment