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Markets check: Dow surges over 400 points, tech stocks among biggest gains

Yahoo Finance's Jared Blikre examines the market action heading into today's final trading hour, the sector action across industries, and the EV space.

Video Transcript

JARED BLIKRE: In addition to the NASDAQ leading the way for the majors, the minor, Russell 2000, small-cap index, that is up 2% as well. Now I want to take a broader look at the S&P 500. This is a year-to-date chart on a candlestick basis. And we can see, we have been tracing out a range over the last week or so.

We kind of dipped below it yesterday. Call it a false breakdown potentially, but a break of this little range right here, let's call it 4450 to the upside and about 4390 to the downside, probably determines the next direction, major direction, for the market. Also want to show you what's happening in the bond market real quick.

30-year T-bond yield hit 3%. It's at 2.99% now. That is the highest in three years.

Now we want to take a look at some of our leaders in sector, sentiment leaders, and we have retail. XRT, that is in the forefront. That is up 3.8%. Close behind it is Homebuilders. Now that is after a report this morning on housing starts was much more bullish than anticipated.

So we're also seeing ARKK components up as well. IPO, regional banks, it is definitely risk on here. Now I too want to take-- excuse me, I do want to take a quick check of the EV space. Tesla is up 2%. GM up 3%. Lucid Motors up 4%. But the standout here is Plug Power. That's after announcing a deal with Walmart where they're going to be supplying 20 tons per day of liquefied green hydrogen. Guys.

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