Nasdaq 100: The top 10 stocks accounting for 88% of gains in 2023 thus far

Yahoo Finance’s Jared Blikre joins the Live show to summarize Friday’s ‘Morning Brief’.

Video Transcript

- Welcome back to "Yahoo Finance Live." Let's take a look at markets here. All green across the board. The Dow losing a little bit of ground here, though. We're seeing the NASDAQ still ticking up though about 1/2 a percent, and the S&P 500 also seeing gains, though. Still buying action for the Dow, but a little bit slow. Early on in the trading day, let's also get to Jared Blikre at the Wi-Fi Interactive for a check on the volatile crypto market as it looks to close out an interesting month.

JARED BLIKRE: Yes. Crypto has been a leader this year. And so, let's get into the charts. We'll get to crypto in a second. I want to focus on the indices, everything in the US and Canada, by the way, in the green, and let me show you what's been happening for the week. The Dow is up over the past five days. 2.4%. And the NASDAQ is up 2.9%.

So interestingly, the Dow is actually leading, which has not been the case for most of the year. In fact you take a look at the year-to-date for the Dow as we close the quarter, it's just down slightly. Basically break even. Whereas, the NASDA is up 15%, and we know the NASDAQ 100 entered a bull market only a couple of days ago.

Let me show you the price action, what's happening in the sector action today. Real estate, it was a leader yesterday, a leader today as well. It's up 1.3%. Consumer discretionary, that's XLY, communication services, Staples, industrials, financials. All of those are on the top row here, as you can see everything in the green. Tech is the biggest laggard, though, and let's take a look at the NASDAQ 100 real quick. A few red spots, but not seeing really anything too major. AMD, by the way, down about 2.3%. Tesla up about 1.8%. Moderna up 3.3%.

But let's get to the crypto stage here. Bitcoin, you know what? I'm going to go back here for 2 seconds. This is our leader, and I want to show you something related to crypto. This is year-to-date. Beto, that is my proxy that trades in the US markets here. For Bitcoin, that is up 68%. And remember that Bitcoin has often been a leader in the risk markets over the last few years and has been reacting to fed reports and inflation reports in the right direction at stocks, but even more so. In other words, the magnitude has been greater. So interesting to see that playing out.

So let me get back to our crypto page. You can see Bitcoin up 71%. That is the underlying, and I'm going to put a three-year chart so we can get a bigger picture view here of exactly where we are. 28,000. Let's see if we can go back there. 28,000 not a real big level that I'm seeing in my work. 30,000 is kind of the next one that we're seeing.

But it was able to clear 25,000, and that was a huge, huge sticking point. So let me just dial this down to a six-month chart, and we can see up, up, and away to the upper right. As I said, a couple more 1,000 and we're going to 30, and that's where the rubber meets the road, guys.