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Stocks in focus: Chevron outperforms, Tesla falls, Pinduoduo skyrockets

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

Video Transcript

[AUDIO LOGO]

BRIAN SOZZI: Now, let's get over to Ines Ferré at the YFi Interactive. Ines.

INES FERRÉ: And Sozz, stocks did open lower. But as you mentioned, off the lows right now. We're looking at the Dow. That's down 180 points. The NASDAQ down about half of a percent. The S&P 500 down 0.4%.

Taking a look at the 10-year Treasury, that is inching higher at 3.10%. Looking also at the US Dollar index, we are seeing a little bit of weakness here so this may support equities.

Let's take a look at the sectors. We are seeing one sector that is in the green right now. Energy up 2%, XLE. I'll get to that in just a second. But we are watching some of the other sectors here that are under pressure. You've got real estate under pressure, also healthcare, technology stocks.

Over on the Dow, Chevron is a big one, up more than 1%, the outperformer. And then just looking on the NASDAQ 100, some of the growth stocks under pressure. You've got Tesla down more than 1 and 1/2%. We're watching Pinduoduo up 19%. In fact, the Chinese ADR-- I'm gonna pull them up-- this is after Pinduoduo quarterly results coming in better than expected.

I mentioned, energy. So just taking a look at the energy chart. Quite a lot of green that we're seeing here. And then looking at oil, we are watching oil go higher. Some interesting commentary from Elon Musk over in Norway at a Norway conference. You've got WTI up more than 2% right now. Elon Musk is saying that we need more gas and oil now to sort of bridge that gap towards renewable. And this is the argument that many have had that even though we are going green, you need energy to go green.

BRAD SMITH: Yeah, energy one of the only sectors in the green here on the day of the S&P 500. 10 out of 11 in negative territory. Energy the only one higher. Ines Ferré, thanks for much for breaking that all down for us here.