Market check: Stocks rally, travel names add to gains

Yahoo Finance’s Ines Ferre joins the Live show to break down how stocks are moving in early trading.

Video Transcript

INES FERRE: Hey, guys. And just taking a look right now at the Dow, we are watching the Dow up more than 300 points. And we're also looking at the NASDAQ that's up more than 1%. The S&P 500 also higher. We've been watching the US Dollar Index. That's a little bit lower. So you're looking at it just above a 106. So this is also giving a little bit of energy to stocks today.

So let's take a look at where we're at with the sectors. All 11 sectors of the S&P 500 being in the green right now. We are watching industrials, materials that are leading to the upside. And we're also looking at the Dow that's seeing all 30 components, except for IBM, down more than 7%. IBM having its worst day since October of 2021 after lowering its guidance for free cash flow.

And then looking at the NASDAQ, we're watching Alphabet up more than 2%. Meta is also higher. So quite a bit of green on the screen that we're seeing here. And then also, the banks continuing what they were started yesterday with that rally that we saw with the banks yesterday. If we just pull up a two-day chart, you can check out these bank stocks there over the last two days.

Some other stocks that are also seeing gains today is the travel sector, adding to the gains from yesterday with the travel sector. In fact, we're watching Carnival up more than 5%, the best performer today on the S&P 500, adding to yesterday's gain. In fact, yesterday, there was a CDC program for COVID, which ended on the cruise line. So that's part of the reason why you're seeing a pop with the cruise line operators, guys.