Yahoo Finance’s Jared Blikre checks out the market and sector gains heading into the final trading hour, in addition to meme stocks, Chinese stocks, and ARK ETF components.
Video Transcript
– Then we’re going to kick us off with a quick market check because we’re an hour away from the closing bell. The major indices, all three in the green today. The Dow up over 1%. They’re at 317 points. The S&P 500 up almost 1 and 1/2% there. And the tech-heavy NASDAQ up more than 2 and 1/4% there. So we’re seeing some strong numbers so far. We’ll see how they go further into the day. Let’s get a deeper breakdown of what’s happening with the markets with our very own Jared Blikre at the interactive. Jared?
JARED BLIKRE: Well, a lot of green on the screen. In fact, I’m not seeing any red whatsoever. Just want to show you what’s happening in this holiday-shortened week– only three days. But we are up 83 basis points in the Dow. We are up, let’s see, almost 2% in the S&P 500. And in the NASDAQ, that is the winner this week so far, up 4%. But of course, a lot is going to hinge on what comes with that payrolls report tomorrow morning.
I’m going to be watching that wage growth like a hawk because if that comes in too hot, guess what? Stocks are probably heading back to the lows and probably breaking through them. Energy in the lead today, back to normal. That’s up 4% followed by consumer discretionary, tech communication services. Those are the mega-cap sectors, plus energy. All of those outperforming. To the downside, only the defensive sectors in the red– real estate, staples, utilities kind of flirting with the UNCH as well.
I want to show you what I’m calling “the almost everything rally.” Staples not really doing much, but you see a lot of dark green here. Really impressive when you take a look at what’s happening with some of the fringe sectors that really haven’t seen a lot of love lately. We’ve seen software pick up, but now meme stocks are picking up as well. Check out this. GameStop up 15%. Let’s check out a year-to-date chart of GameStop. See? You can see it’s down 9%. Still some– excuse me– choppy trading action there. And then we got AMC. That’s down 46% year-to-date, but it is up 15% today.
Let’s check out some of these Chinese stocks, especially the EV ones like NIO. Those have been bumping since the early going. That’s up 9%. XPEV up 6%. ARK invest components, those are doing well, too. So if we get some continuation tomorrow, probably going to be dependent on those payroll numbers. Guys?
– We’ll be watching that Jared. Thank you, my friend. Good to see you.