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Market check: Stocks turn lower, Treasury yields rise in choppy session

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Yahoo Finance's Jared Blikre takes a look at markets in the red heading into the day's final trading hour, the bond market, sector gains and losses, the software and semiconductor spaces, and commodity price actions.

Video Transcript

JARED BLIKRE: Well, ending on a little bit of a downdraft here, but good news for the month because I'm going to show you something here. The Dow is off about 200 points today. This is the intraday price action. But I want to show you what has happened for the month-- here we go-- month to date of May. And you can see sitting on some very small gains right there. NASDAQ is still in the red for about 2%. And the S&P 500, that is just barely green as well.

And let's take a look at our year to date chart, so we can get a longer term look. And we are in the midst of potentially the sixth day of this rally off of the lows. We'll remember that it was pretty harrowing down there. And a lot of analysts were saying that those would have to be blown out to the downside before we see higher prices materially higher and also new highs. So we'll have to see if that comes to play. We're having a huge day in the bond market. The 10-year Treasury note is up about 10 basis points here.

And let's skip right to the action. This is the sector action for today. Consumer discretionary leading the way. Here is the month to date. And energy the standout. That is up another 16%, followed by utilities, financials, communication services. These guys just have some nominal gains, but here's consumer discretionary, worst performing sector of the month. Not surprised to see some money flowing back into it today.

And let's keep in mind, this is May. We just passed a three-day weekend, and this is an illiquid time of the year. So some of the market moves could be a little bit random. Also want to show you guys something really interesting. Here is the software space for May. And you can see a lot of red on your screen there. And here's the semiconductor space. A lot of these names didn't sell off that much and have now rallied to new highs.

Before I go, it looks like it got two seconds here. So I want to show you what's happening in commodities. Lumber down 34%. It is in the midst of another 50% drop. Coffee, brent crude, RBOB gasoline, all those in the green. Some of those up nearly 10%, guys.