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Stock indices down following core PCE inflation data, Microsoft and Intel move lower

Yahoo Finance Live’s Jared Blikre breaks down how stocks are moving in intraday trading.

Video Transcript


- Welcome back to Yahoo Finance. Let's get over to Jared Blikre at the YFi Interactive. Jared?

JARED BLIKRE: Yeah, looking at a little bit of down action, but not much to begin the day, but it's been a positive week overall. Let's check out what the Dow has done. Now, 1.66%, I think the bulls will take that.

And check out the NASDAQ. NASDAQ really fulfilling or continuing its role as a leader this year, which is contrasting to last year. NASDAQ is up over 3% over the last few days. And let's just take a longer term look at the market here.

Here is the S&P 500 over the last nine months. You can see we are right up against this late November, December peak that we had there. Going to have to climb over that. Already over the 200-day moving average, so we keep having these incremental technical levels.

But 4,100 is really the level for me. NASDAQ also in a similar situation, trying to overcome its highs from late last year. The Russell 2000, though, let me just change this to a candlestick view. You can see just barely breaking out.

And on top of that, we got stocks. We got the CHIP stocks on ready to break out here. We also have transportation. So let's take a look at the sectors.

We have communication services, that is in the lead. That's up 0.5%. Industrials, also looking at consumer discretionary, excuse me, that's in the lead, and financials. Those have been some three winners this year.

Tech taking a little bit of a back seat. I think that's on the back of those Intel earnings. Let's take a look at that board. You can see Intel down 10%, KLA down 7%.

A lot of red here, but not deep red for the most part. Software, kind of a mixed board, more red than green. IBM up 1/3 of a percent there. And let's take a look at what's happened with our sector for the week.

And you can see it's all about the mega caps. Consumer discretionary, the worst sector last year along with communication services, and then tech, and then financials, and then energy. Interesting mix of not only the value but also some cyclical sectors there, some growth sectors. So pretty good mix going forward.

Let's take out the leap, check out the leaders. ARKK, and this is over the last five days. ARKK is in the lead. That's up 5%.

I talked about defense. ITA, that is a defense ETF. That's up 4%. Even with those Intel earnings and that red screen we saw with the CHIP stocks, those are up 4. So all in all, pretty risk on weak here and we'll have to see if this can continue throughout the day into the close, and of course, next week as well.