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Stocks open higher, oil rises, U.S. dollar weakens

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

Video Transcript

INES FERRE: Soz, the NASDAQ is the outperformer today. And if we keep up these gains, we will be ending the week in positive territory. Remember that this was a shortened week. Right now, we're looking at the NASDAQ just above 12,000, also the S&P 500 up 1%, firmly above 4,000.

Looking over at the US dollar index, seeing some weakness here. And I'm going to pull up a four-day chart so you can see. Earlier this week, that was just above 110. Right now it's just below 109. So there's a weakness in the US dollar, that's lifting equities right now, giving some support to equities.

So let's take a look at the sector action because we're looking at all 11 sectors of the S&P 500 that are in the green. We've got communications services, energy stocks, those are in the green, technology and consumer discretionary as well.

Over on the NASDAQ 100 on the left-hand side of the screen, the mega-caps are seeing some gains. You've got Tesla up more than 2%. I'm going to pull up a four-day chart so you can see some of the gains for the last four days.

Also taking a look at crypto, Bitcoin. Julie was mentioning this earlier. Over the last 24 hours, up more than 9%, up above 21,000 per token.

And then just taking a look at WTI, we are seeing WTI rallying. Remember that weak US dollar also lifting up commodities right now. So we're watching WTI up about 3%. We're also watching Brent crude higher as well, up about almost 3% for Brent crude, the second day of gains for crude, guys.