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Stocks turn positive as major averages head for weekly gains

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Yahoo Finance's Jared Blikre looks at the sector actions heading into the week's close.

Video Transcript

[MUSIC PLAYING]

- Welcome back to "Yahoo Finance Live," everyone. We're just three minutes away from the closing bell. As we take a look at where the major indices stand, let's also get a breakdown of the deeper dive on the markets with our very own Jared Blikre at the Yahoo Finance Interactive. Jared.

JARED BLIKRE: That's right. And we're building on gains into the close. This is a NASDAQ composite. You can see it's up 8% this week. Best week in a number of weeks, and, in fact, I think most of the markets have either been down four or five weeks straight. Definitely going to snap those today.

And I thought we'd take a look at what's happening in the sector action for the week. You can see this is five days right here. Now we have the communications sectio-- excuse me. We have consumer discretionary tech and financials, healthcare. All of those are outperforming right now.

XLY up 9%. Huge gains for a week. To the downside, energy. That's a story where crude oil has been under pressure. Although it closed up today.

So I want to take a look also at our leaders. Now, KWEB, that's a Chinese internet ETF. That is up 28% on the week. Best week ever. ARKK Innovation Fund, that is up 18%. Best week ever. IPO up 16% almost. Best week in a very long time. And the list goes on.

To the downside, only regional banks that was mired in the red earlier managed to climb into the green. That is up 1.2%. And if we take a look at the NASDAQ 100 for the week, we're seeing some outsized gains for a lot of these stocks.

Just talked about Nvidia 30 minutes ago. That's up 19%. Tesla up nearly 14%. Amazon, huge week. Clawing back some of those losses down-- excuse me. Up 11%.

Let's get a check on the travel space. Haven't checked that all day. AirBnB up 15%, Carnival Cruise Lines up 13%, Delta Airlines up 17%, and the list goes on as we head into the final closing bell of the week. And haven't taken a look at software either in a little bit, but you see some huge outsized gains.

A lot of these companies have been really mired in the red, just gotten beaten down along with a lot of the other stocks, but nice to see them ending in the green. Gonna put our China map on here, too, as we finally head to that closing bell. And you can see Alibaba up 25%.