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Nasdaq outperforms, Meta stock gains, oil falls

Yahoo Finance's Ines Ferre joins the Live show to break down how stocks are moving in early trading.

Video Transcript

BRIAN SOZZI: Now let's get back onto the markets here and get over to Ines Ferre at the YFi Interactive. Ines.

INES FERRE: Yes, Sozz, and we are seeing that the NASDAQ is the outperformer right now, up more than half of a percent. Let's take a look at the sectors because we're watching communications services. Part of that has to do with social media stocks. I'll get to that in just a second. But we're also seeing real estate that is in the green, as well as healthcare after the FDA approved boosters today for Pfizer and BioNTech.

Looking at the NASDAQ, we are seeing quite a bit of green when it comes to Meta, up more than 5%. I'll get to that social media chart that I was talking about earlier. And you can see a lot of green here on the screen. Snap up more than 12% after announcing cuts as Wall Street sees this or investors are seeing this as a cost saving measure. So that's why you're seeing these social media stocks higher.

I do want to get to what's happening with crude oil and commodities because we have seen large swings when it comes to crude. And let me get to that chart right here. And for WTI, a third month of drops for WTI as we're closing out this month. So you're looking at WTI just above $90 a barrel. You're looking at Brent crude that's down as well. This is, of course, over recession fears, over slowdown in China. Also low liquidity, so it's really creating these big swings.

And then natural gas futures, those are lower, but really, what's happening is the energy crisis in Europe, there's been a big swing there with natural gas prices, as we've seen those come down significantly over the last few days. And part of that has to do with the EU considering a price cap.

And also today, we had the closure of a key pipeline from Russia to Germany. If that continues on for more than three days-- Russia says that that's because of maintenance issues. The Europeans don't believe it's really maintenance. But if it continues for more than three days, then you're talking about fuel rationing for the winter.

BRAD SMITH: Real-time news and chart correlation pro, Yahoo Finance's own Ines Ferre, thanks for joining us in studio.

INES FERRE: Thank you.