Yahoo Finance Live’s Julie Hyman joins the Live show to break down how stocks are moving in early trading.
- Yeah. And I'm going to start outside of stocks for a moment, then we'll delve a little bit more deeply into what's going on with stocks right now. So, first, I wanted to start with what we're seeing in yields pushing up to 3.43% on the 10-year. So the levels that we last saw sort of earlier in the summer as investors and traders start to price in what the Fed is going to do next. We are starting to see more chances, as we heard earlier from Jared, and we've been watching for a 1% rate increase potentially at the September meeting, at the meeting that is going on next week. So that's something that we are watching closely.
We also continue to watch the US dollar, which in tandem with those rates is pushing higher. This has been a stumbling block for stocks, as Jared has been tracking consistently here. So the fact that we are seeing a move-up with rates once again is not good news for risk assets here.
And speaking of risk assets, we've seen a recovery in Bitcoin lately recently. Let's take a little bit more of a short-time, the 10-day here. It stalled out. And that's because we have seen this inverse relationship between risk, between rate outlook, and what's going on with Bitcoin.
And then if we want to take a look at what's going on with the sectors as well. We've got here communication services and consumer discretionary down the most. A lot of tech carnage happening in today's session, Brad.