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Stocks: Nasdaq flat, S&P 500 and Dow higher following Fed rate hike announcement

Yahoo Finance's Jared Blikre takes a look at markets, commodity price actions surrounding crude oil and metals, bitcoin, and Nasdaq leaders amid the Fed's interest rate hike announcement.

Video Transcript

JARED BLIKRE: That's right, and let's check out some of the charts on the YFi Interactive, where we can see a little bit of fireworks here. Usually, as we've been discussing, those are kind of saved for the Powell presser, very much an as expected report, a couple of twists and turns, but nothing major. You can see just a tiny little spike up. That's the Dow on the news, holding gains of about 161 points. S&P 500 slightly less here, up about a 1/3 of a percent. And the NASDAQ just barely trying to climb into the green, as you were noting, Seana.

And let's take a look at the bond market here. This is going to be a 10-year Treasury note futures, so they move in opposite direction of the yields. You can see, got a little bit of a spike up here, but pretty muted reaction overall. So let's go over some of the other markets. We did see a little bit of a surge in WTI crude.

Energy stocks, by the way, holding up, nicely getting a little bit of a bump off this. Gold getting a little punch to the upside as well. It's been depressed over the last few-- excuse me-- the last few weeks. And copper, not really a whole lot of movement there. I guess I'd be remiss if I didn't check out Bitcoin as well, a little bit of a bump there. It has been positively correlated with equities as of late.

Now, let's check out the sector action. As I said, energy posting on some earlier gains. It's up nearly 2% right there, at session highs, followed by utilities and staples. So that's an interesting defensive setup, but materials doing well, as it looks like inflation concerns are abating, at least in terms of what the Fed is going to react.

So are we at peak hawkishness right now with respect to the Fed? I think that's what the markets are asking themselves. And it's really going to take the Powell presser for the market to make up its mind. Finally, here's the NASDAQ 100, kind of a mixed board. We got Amazon, that's down 2%. Apple up 1%. Chip stocks doing nicely. AMD up 3%, guys.