Stocks mixed at the open, Salesforce lifts Dow
Yahoo Finance Live’s Brad Smith and Julie Hyman break down how stocks are trading following the opening bell.
JULIE HYMAN: Well, we got the opening bell coming on Wall Street in just a couple of moments. And it looks like that we are setting up for a lower open here this morning for the major averages.
[WALL STREET BELL RINGING]
There you have the opening bell here. Or it looks like maybe we could even get a mixed open. We'll see where things shake out as we get underway. But it does feel like today is another day where it's more sort of a micro day, right?
We've got a lot of decent-sized earnings reports that have come out. Tesla certainly gonna be a weight on the NASDAQ. But there's not a big macro narrative necessarily that is dominating the trading in today's session. But that, it looks like why we're seeing perhaps the NASDAQ futures that were indicating much more of a hit, going into the open versus the other averages.
And indeed, that's how it's playing out. The NASDAQ out of the gate, down by about 9/10 of 1%. The S&P down about 1/2 a percent. And the Dow is trading up. It's up about a quarter of 1%, Brad.
BRAD SMITH: Yeah, spot on. And taking a look at some of the activity here over the course of this week. Just to put this in context, over the past four days, Dow Jones Industrial Average, net lower by about 2/10 of a percent here. But as you mentioned, out of the gate this morning, still in positive territory, holding on to those gains.
NASDAQ, different equation there. Over the past four days, down by about 1%. And here today, down 8/10 of a percent. S&P 500 down by about 9/10 of percent this week or over the past four days, as well.
Also taking a look at some of the sectors. S&P 500, we got 11 of them. We've got them loaded up here for you on the screen. We really only have one gainer right now, and by the hair of its chinny-chin-chin. Consumer staples, you're seeing that higher by 1/100 of a percent.
But we've got consumer discretionary moving lower on the day. That's down by about 1.8%. We've continued to get even more insight about the consumer right now, especially from some of the larger retail CEOs over the course of the past two weeks, whether it was Walmart, whether it was Target, here today even, Macy's.
And so within that health of the consumer, that's certainly being focused in on. And now, you've got actually all 11 S&P 500 sectors in the red just a couple minutes into the start of trading here on the day. Not even two minutes into the start of things.
Let's take a look at the NASDAQ 100 here. The tech heavy average, as we were mentioning, that one of the biggest laggards above-- or among the major averages here on the day. And you've got a lot of red, a sea of red, in fact. And look at Lucid also getting pulled lower with Tesla. Tesla down by about 7 and 1/4% to start the day. Lucid, you're also seeing that lower by about 3.8% here.
Dollar Tree, interesting to see that activity. You're watching that retailer lower by about 3%. We're gonna dive into some more of the movers that we're also tracking this week.
JULIE HYMAN: Yeah, can I ask you-- do one more thing. Can we go back to the S&P 500 for a moment? And maybe-- no, just the overall index because just hearing from our Jared Blikre, that the S&P is below its 200-day moving average for the first time in a month. And that can be an important sort of technincal indicator. It indicates momentum has been accelerating to the downside, so we'll see what happens.
BRAD SMITH: Yeah, if we were just to draw a line across the screen here, that's exactly-- well, that's about as good as the line I can get without getting my protractor, or ruler out, or yardstick. But as you're seeing there, as Jared was pointing out, over the course of the past 52 weeks, still down by about 10% year-to-date. Let's just take a quick look at that view here, still higher. Holding on to some gains here today right now.
JULIE HYMAN: Yes, indeed they are. So we'll see what happens.