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Stocks slide as investors mull economic data, Tesla stock in the green

Yahoo Finance’s Jared Blikre breaks down how markets opened on Thursday.

Video Transcript


- Welcome back to Yahoo Finance Live this morning, everyone. We're about 10 minutes into trading on this Friday's Eve. And taking a look at the major averages, we're down across the board-- fractional declines for the Dow, the S&P 500, and the NASDAQ. For much more on what's taking place early in today's tape, let's get on over to Jared Blikre who is live at the Wi-Fi Interactive.

JARED BLIKRE: Live right here in front of you. We see the Dow down about 100 points, not the hugest movement, especially in the context of what we saw a few days ago. By the way, here's what has happened for the week today. You can see the Dow off about 3 and 1/2 points, the NASDAQ off a bit more, and the S&P 500 off about the same amount-- 3.4%.

I have been tracking the VIX and not doing a whole lot. I'm going to put a-- let's put a two month or three month candlestick chart on. We can see here it was that big 4% or 5% down day that we saw in the major averages. Now we came down a little bit yesterday, and we're just kind of hovering around those highs today. Now the VVIX of the VIX can be a leading indicator. That has jumped up a bit to what has been a resistance point in the past. So we're going to see if that jumps above it.

And then another measure of volatility, we got the bond market MOVE Index. That is up, and that's as of yesterday's close. Now we are seeing the five-year T-Note yield advance to multi-year highs, once again, 10-year T-Note yield right on its heels there. But I want to go down to the shore end of the market. That's where a lot of the action has been.

Just consolidating some of these big gains that we've seen over the last few days. The 13-week T-bill yield, not doing much today. And then finally, the US Dollar Index hovering near recent two decade highs here but not making any big waves just yet.

Now here's the sector action for today. We can see a few sectors in the green-- health care followed by communication services, financials, consumer discretionary. All those are in the green coming off of those retail sales numbers. And let's just get a check of the retail market. Right now, we can see Amazon, the biggest in the group, up about 16 basis points, TJX up 1%, and looks like Foot Locker up 2% as well.

But let's take a look at the broader market. Here is the NASDAQ 100. We've seen some of these big guys take massive hits this week. Here is a four-day look. And you can see some of the carnage and some of these bigger tickers. But look, Tesla keeping it green here over the week. At that is up 1.2%, an additional 20 basis points today, guys.