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Market check: Nasdaq trades lower, bitcoin dips below $22,000

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Yahoo Finance's Ines Ferré breaks down how stocks and the crypto market are trading on Monday ahead of Big Tech earnings and the Fed decision.

Video Transcript

AKIKO FUJITA: Let's get to the market action today, though. We've got Yahoo Finance's Ines Ferre standing by. And Ines, as we said, a very busy week investors are gearing up for.

INES FERRE: That's right, a big week. And today, we are looking at a little bit of action. We're seeing the NASDAQ that's down almost half of a percent. You've got the Dow and the S&P. The S&P is flat. The NASDAQ-- the Dow slightly higher. Taking a look at the sector action, we're looking at technology-- that's what's really dragging on the NASDAQ-- and consumer discretionary. We're watching energy stocks. Those are higher right now.

Over on the NASDAQ 100, this is the part of the screen that we want to pay attention to this week. Apple, Amazon, Alphabet, Microsoft, Meadow, all of these will be reporting earnings. We are watching Nvidia, down more than 2 and 1/2%. In fact, the semis are pulling back a little bit.

And Nvidia's price target was decreased at Barclays, but Barclay analysts still there with an overweight rating on the stock. Also, taking a look at the software stocks, these are losing a little bit. You've got Salesforce over on the Dow that's down almost 3%. Adobe is lower as well.

And then I just want to point out what's been happening with crypto because we are watching Bitcoin below-- dipping below the 22,000 level. And so crypto-related stocks are dipping today. And we're watching quite a bit of red on the screen here. Coinbase down. MicroStrategy is down as well. A little bit of a reversal from what we saw over the last 10 days. This is a 10-day chart for the crypto stocks, guys.

BRIAN CHEUNG: As a follow up, Ines, I mean, what's the sector action looking like today? Because we already got some tech stocks at the end of last week. You think of Snap. You think of Twitter. Is that dragging ahead of the anticipation for those big tech companies later on this week?

INES FERRE: You know, what we're looking at with the tech-- and let's just actually point out, I'm going to put up an intraday chart so you can see-- last week, we saw the social media stocks that were down quite a bit. You had Snap that was down significantly. A little bit of action here. You've got Twitter that's down. Snap is flat right now.

But if we just take a look at these sectors, we're watching technology, but it's mostly the semis. It's a lot of the software stocks. Those are the ones that are losing right now. And over on the NASDAQ 100, again, the ones that you want to pay attention to, a little bit of flatness that we're seeing here. You've got Amazon that's down just half of a percent. Tesla is breaking an eight-day winning streak, guys.

AKIKO FUJITA: OK. We're going to be talking a bit more about the tech trade. A lot of investors are going to be watching those numbers closely. Thanks for that, Ines.