U.S. Markets open in 7 hrs 3 mins

MARKETS: Apple, Facebook, Tesla weigh on the Nasdaq — YF Premium is bullish on Lennar (LEN)

Yahoo Finance's Jared Blikre joins Myles Udland to break down the day's price action in stocks as well as a long in Lennar (LEN), a Yahoo Finance Premium Investment Idea. Not a subscriber? Start your free trial to join our next webinar on Wednesday, September 2nd at 2:00pm ET live!

Video Transcript

MYLES UDLAND: All right. Welcome back to The Final Round here on Yahoo Finance. Let's go to Jared Blikre now for a look at where the market stands. About 25 minutes to go in today's trading session, Jared.

JARED BLIKRE: Yeah, we're still close to the lows in the major indices. And just looking at the NASDAQ 100 heat map, those big cap names under a lot of pressure. Facebook and Tesla each off about 3.8%, Amazon off more than 2%, Apple nearly there with it.

And looking at the sector action for today, materials and industrials the only ones in the green. Real estate down 2.4% is the biggest loser.

Let's check out the last 10 days. Because that's when we had our market high in the S&P 500. And we can see XLB, the materials space, is the only one in the green, up 1%. Tech is the biggest loser, down 10.8%, followed by communications services.

I want to turn now to our Yahoo Finance premium investment idea of the day. And that is Lennar. And Argus Research is raising its price target to $88, and that is from $83.

And just a couple of notes here from Argus Research. Lennar is seeing a robust housing market across the country that it expects to be an essential driver of the US economy, helped by low inventories of affordable homes and strong demand. The company is seeing a tremendous conversion of renters into home buyers and many step up buyers moving away from densely populated areas, looking for brand new homes.

Stock is very close to its record highs here that we've been tracking for some time. And of course, the homebuilder space in general has been doing very well recently. Myles.