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US stocks (DJI, IXIC, GSPC) ended Friday's trading session strong: the Dow Jones kept the momentum on its win streak and ended the week 3% higher, and the Nasdaq Composite led gains by rising just over 1.5%. This all comes after the release of April's jobs report this morning, which saw non-farm payroll jobs grow by 177,000 last month.
Market Domination Overtime anchor Julie Hyman and Yahoo Finance markets and data editor Jared Blikre recap the market and sector activity following the latest economic data and this week's Big Tech earnings.
To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.
There's the closing bell on Wall Street. And now it's market domination overtime. Jared Blickre is going to join us to get us speed on the action from today's session. I'm going to start with the major averages here and the gains that we're seeing after this morning's better than estimated jobs report. Really, even though we got some negative news and negative reaction in two large cap tech names, it did not slow things down today. Also, incremental drip drip of news that seems to be pointing to some level of potential progress on tariffs or tariff talks with China, maybe. Uh but we're seeing that optimism being felt in the market. The Dow today up 564 points, about 1.4%. The S&P 500 up 1 and a half percent, and then Nasdaq composite up 1 and a half percent as well, even despite declines in shares of Apple, in particular. And Jared, I am certain that you are watching the streaks that we have been seeing in the market.
Nine days. Uh we haven't seen that in potentially decades. Uh for the Dow though, not since I think 2023, they had that 13-day run that I'd forgotten about. Um, I'll get to that later in the show. I just want to show you what's been happening with the VIX, which has been coming down nicely. This is a one-month low, and I'll put a year-to-date chart there. You can see, boom, lowest price or lowest index level in a month. And also taking a look at the ICE BofA Move Index. It's like the VIX for the bond market. That has also come down nicely within, you know, the territory that we saw in March with the hiccups in there. And looking at the 10-year T-note yield, speaking of bond markets, we saw a nice jump today. Uh, I don't know if you want to characterize it as nice. Depends on which direction you want to go, but it did jump up nine basis points. And here's the intraday look, uh, coming off of that report earlier in the morning. So interesting price action this week, but it has been another bullish week for stocks. And you can just see that right here, all 11 sectors in the green, led by financials, industrials, materials, tech, communication, discovery, uh consumer discretionary, and then energy. All, what is that? Seven of those outperforming there. And then we can also tally the weeklies. And there we have industrials, tech, and financials taking the lead. Industrials up 4.3%. Uh nice to see those gains there. And then look at the week in Nasdaq. The Nasdaq 100 here, Microsoft really leading the way as uh kind of the favorite here in this recovery. Microsoft was up 11% this week alone. Uh just a quick year-to-date chart. I'll punch that up here. And you can see it is now in the green, approaching those highs that we saw in January. Apple, uh the saying used to be as goes Apple, so goes the market. Not this week. The market's up. Apple is down. So a bit of a bit of divergence there. We'll give Apple a few more weeks to find its footing after earnings. Meta's another standout here, up 9% this week. And I'll just go to I'll close on some of the leaders that we saw, transports. We don't talk about the transports a lot. IYT is the transport ETF. Uber leading the way there. Yes, Uber is part of the Dow Transports. And then China, didn't talk a lot about China's this week, but that's actually leading over a lot of the uh domestic sectors. Software matching China there, 4.9%. Momentum did well. Uh ITA, transportation did well. KRE, that's regional bank. So a lot there to look at, even biotech. Look at that second line. Biotech was kind of out for a while along with home builders. So a lot of stuff that's been beaten down, beaten down has nicely come back up, and uh I think we'll just leave it there.