Bond yields fall, Rivian and Peloton stocks rebound, bitcoin moves slightly higher

Yahoo Finance Live’s Julie Hyman breaks down how stocks, bonds, and cryptocurrencies are trading as investors eye Thursday's inflation reading.

Video Transcript

JULIE HYMAN: Well, as we see stocks continue to rally, I want to start with a look at the interactive here at what's going on in the bond market, not just today, but what we've seen thus far in 2023. We've seen yields come down. So this showing you yields of about 3.57% on the 10-year. And that's a drop thus far this year. That's a pretty significant one.

So even as we talk about many investors saying the Fed is going to be more aggressive than the market is pricing in, that the market's not pricing it in. The market's not necessarily getting the message that we are seeing bond prices and stock prices here rise to start the year, which is an interesting phenomenon.

Looking at some of the sector action today, we're also seeing some interesting moves. All of the industry groups in the S&P 500 are up now. And we are seeing consumer discretionary and real estate lead the way. There doesn't seem to be anything specifically necessarily that's driving the gains within consumer discretionary. Pool Corp, the pool supplies company, being upgraded to buy from hold over at Deutsche Bank. Labcorp helping some of the healthcare names rise as well. It's one of the best performers in the S&P, the price target being raised over at Baird. So maybe that's a part of what is going on here.

And then if you look at some of the big performers in the NASDAQ here today, and I'm going to sort it to equal weight, so we can see what is up the most here. So we're actually seeing Rivian near the top of the list after announcing some management changes, which we'll get to in a bit. Lucid also gaining steam, Peloton. So within the NASDAQ 100, some rebounds from some stocks that have had some recent weakness-- not just recent weakness, but 2022 weakness. Amazon and Tesla are on that list, too, which is quite interesting.

And then rounding it out, let's take a look at over what's going on in crypto here. Not very big moves, even as we get another day with some FTX news in terms of the hearing. And the FTX bankruptcy court talking about recovering a lot of money that was perhaps lost during the collapse of that company. So, interesting there, Sozz.