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Market check: Stocks open higher, meme stocks pop, bitcoin gains

Yahoo Finance's Brad Smith breaks down how markets are trading on Monday morning.

Video Transcript

BRAD SMITH: All right, let's take a quick look at the major averages here as we are just 30 minutes into trading on this Monday. A happy new week to everybody here in August.

And taking a look at the NASDAQ composite first, you're seeing that higher by about 1.4% as of this point in time. Holding on to some solid gains there, triple digits. S&P 500 also higher by about 0.9% at this point. And then additionally, let's just check in on the Dow. You're seeing that hold on to about 280 points in positive territory as of right now, 0.9% in positive territory there in the green.

Also some of the trending tickers that we've been keeping a close eye on here as well this morning. We were talking about Palantir, their earnings particularly here on the forecast looking weak. So we'll continue to watch that. Bed Bath Beyond was mentioned a moment ago. We've also got some other interesting names here.

Of course, the meme players, they're moving around a lot here today. And since we've got a view of Bitcoin there, let's check in on BTC-USD. You're seeing that hold onto gains here today about 4.4% as that's holding above that 24,000 level.

And then just additionally here, checking in on some of the sector activity that we're seeing on the day. As of right now, this is, of course, the NASDAQ 100. But if we take a look at the major sectors, you're seeing green across the board now for 11 out of 11 S&P 500 sectors. Led right now-- it looks like we're being led most notably by some discretionary names. And we're gonna continue to watch that as we move on throughout the rest of the day. Julie.

JULIE HYMAN: Thanks, Brad, good stuff. Yeah, interesting how broad that rally is.