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Stocks trade mixed at the open, oil extends rally on OPEC+ production cuts

Yahoo Finance Live’s Jared Blikre breaks down how stocks are moving following the opening bell on Tuesday.

Video Transcript

- Well, you were just taking a look at the opening bell there on Wall Street. Markets have officially opened up for this Tuesday trading session. There you're taking a look at the US major averages. Jared, we're mixed right now. What are you seeing at the YFi interactive?

JARED BILKRE: That's right. Yesterday we were seeing the Dow outperforming the NASDAQ in the red. And today it's a flip, so topsy turvy. We saw a lot of flips last year. Hopefully we're not returning to that macro environment.

Here's a look at the sector action, and it's kind of a split field here. Looks like materials pulling up the rear. And then industrials and energy just barely negative.

Energy was the best performer yesterday on that OPEC Plus production cut. But today, consumer discretionary-- that's XLY-- that is in the forefront followed by tech, financials, and staples. All of those outperforming but not by a lot. So really not seeing a whole lot of movement in the early going here.

Here's my Leaders and Sentiment Markets. And Momentum-- that is an ETF that tracks whatever has been, I guess, surging to the upside or a downside in the last six months. That's up 2%. So more of the same there.

BITO-- that's Bitcoin-- ARK Innovation-- those are kind of outperforming. Not seeing a lot in terms of meaning there. Cannabis-- MJ-- that's the biggest loser to the downside, down 2%, followed by Chinese stocks KWEB.

Let's take a look inside the Chinese market here and. As it populates, we can see more red than green. Alibaba down just marginally. Baidu, up 4/10 of a percent.

And I'll just leave us on the NASDAQ 100 here. Lots of green on the screen-- Tesla an outlier. That's up 1.6% after disappointment yesterday.