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Market check: Stocks recover day’s losses in the afternoon session

Yahoo Finance's Jared Blikre looks at how markets settled to start the week with the materials, consumer discretionary, and industrials sectors leading the way.

Video Transcript

DAVE BRIGGS: The markets holding their collective breath for the words and the hike of the Fed Chair. Jared Blikre here to break down the market action. Hello, brother.

JARED BLIKRE: Hello, two days and I'm on pins and needles myself. And let's check out the NASDAQ, up 75 basis points, a leader for today, except for the small caps. And we see starting out in the red, ending in the green-- not bad. But as we've been talking about here, really counts what happens in about two days. So don't get your hopes up just yet.

But for today, materials, consumer discretionary, industrials, utilities, financials, tech, all of those are outperforming. Materials, XLB up the most. Dollar taking a little bit of a backseat could explain some of that. But other than that, let's check out some of our leaders. And here, we see regional banks-- that's KRX-- that index up 2% today, followed by the transports. Those took a huge hit last week based on that FedEx pre-guide. That's up 2% today.

Homebuilders up, cannabis, KWEB-- that is a Chinese ETF-- and retail stocks, all of those up more than 1%. So some fairly broad-based gains. And if we take a look at our EV heatmap, we can also see a lot of green here. GM, that's up 3 and 1/2%.

Li Auto up nearly 5%. Xpeng up 7%. So some of those Chinese stocks doing well. By the way, NIO up 3 as well and got to check out some green in the travel space. Here, we see United and American Airlines each up 3%. So is Southwest. And then Avis Budget's Hertz Group, that's up about 4.77%.

But you want to see some red for the day, going to see that in the energy sector. And here, we see Exxon down just slightly. Chevron in the green for about a quarter of a percent, BP down 1/3 of a percent. Finally, got to show you our crypto heat map as we head into the first closing bell on the week. There you go.