Yahoo Finance’s Ines Ferré breaks down how markets are performing into the close on Friday.
Video Transcript
EMILY MCCORMICK: We’re minutes from the final closing bell of this week, and it has been a choppy week for stocks. The three major indices trading mixed this afternoon. And let’s head right over to Yahoo Finance’s Ines Ferre for the breakdown. Ines.
INES FERRE: And Emily, we are set to end the week with losses for the three major averages. If you just take a look at our YFi Interactive, you can see the Dow Jones for the week down about 3/4 of a percent, the NASDAQ down almost 4%, the S&P 500 down more than 1% for the week. Looking at the 10-year Treasury, we did note earlier today the 10-year reaching 2.73%, a three-year high, as this past week, treasuries have climbed steadily after those hawkish Fed comments earlier this week.
Also, looking at the sector action, we’re noting energy and financials in the green with technology and consumer discretionary in the red today. But if you just take a look at the weekly action, you’re seeing a bit of a flight to safety here, as XLV, which is actually at a new high, is a sector that investors have fled to, whereas technology and consumer discretionary really getting hammered this week amid high inflation, talk of rate hikes, and also fears of a slowdown.
Looking at the NASDAQ 100, this is a weekly chart, so you can see the losses for the week on the left-hand side of the screen. And this is the daily chart, with Tesla down more than 3%. And also noting the semis have seen a pullback. And for the week, a lot of red for the semis as technology has been under pressure.
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