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S&P 500, Dow, Nasdaq move slightly lower coming off of sell-off

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US stocks (^DJI, ^IXIC, ^GSPC) open Tuesday's session slightly lower, coming off of yesterday's market sell-off.

The Morning Brief's Madison Mills and Yahoo Finance markets and data editor Jared Blikre break down this morning's market and sector trends.

To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.

00:00 Speaker A

That is your opening bell on Wall Street. Let's go to check on the markets here. Taking a look at futures as we wait a second for the market to open on our end here. You're still looking at pressure, though we're just around the flat line here when it comes to the trade. We're actually seeing a little bit of recovery in the tech heavy NASDAQ earlier this morning. So it'll be interesting to see if we do continue to get that throughout the trade today. Again, we're still waiting for those markets to open here on our boards for us. If you take a look at the two-day chart, you can see just the degree of selling that we have seen in that tech heavy NASDAQ here. You take a look at your S&P 500 opening down just about two tenths of a percent. You can also see that struggle when it comes to the S&P 500. And here you can see just how much we are off of our all-time high down nearly 10% from that all-time high in your S&P 500 here. But I do want to just flip the board over really quickly and take a look at some individual stocks when it comes to the market, if I can get our board behind me to load up here. You're still looking at selling across the board. Interestingly, Microsoft hovering around the flat line. What's interesting about them is they are the cheapest stock in the mag seven, I believe, at the moment when it comes to their PE ratio. Meta here, the only member of the mag seven that is not down year to date. So that's been interesting to monitor. And Amazon also looking relatively affordable given the selloff that we've seen. Interesting to see Nvidia moving to the upside right now as we are in the market open here. If that continues, could that lead to gains in the market today? Apple still seeing a selloff after the biggest selloff, I believe, for that name since August. So again, interesting to see. And even Tesla recovering today after its biggest selloff in nearly five years, I believe. So interesting to see some of these individual movers of the mag seven recovering after that degree of selloff. Will that lead the NASDAQ to continue to be in the green throughout the day? We're going to get into all of it and more with Yahoo finances Jared Blickre for a broader look. But what's moving in markets? Hey Jared.

03:05 Jared

All right. Thank you, Maddie. I want to go back to the indices. And specifically, I'm looking at the S&P 500, which lost $1.4 trillion yesterday. I like this six month chart. I'm going to extend it to one year. And one of the things I'm seeing right now is the prior highs from last year in July and August, September, those highs are now kind of yielding to price. So price has dipped below those. And we want to see that recover pretty quickly here. Otherwise, it suggests that we're in for some more downside. So combined with some of the other indices kind of approaching or going through to the downside their major levels, um, it just kind of doesn't necessarily bode well for the market, although it is still possible to get a sharp snapback. And if we are still in this bull market, that's exactly what I would expect right here. If we have another steep down day, uh, that is kind of off the table. Also, want to note that small caps are leading right now to the downside. They're down, uh, well, not getting that quote. Let's look at the S&P 600. Excuse me, leading to the upside here, up about one quarter of 1%. And that's after a pretty steep loss yesterday. But, uh, the small caps didn't lose as much as the large caps. And we're going to look at the sector action here. Energy, materials, and real estate in the green, while communication services and staples, uh, down more than half a percent, but not really seeing any big outsized movements. And this screen right here, the NASDAQ 100, uh, pretty different picture than we were seeing yesterday. One thing I liked about Apple's movement yesterday was that it stopped right at the 200 day moving average. Unfortunately, that would be right here. Unfortunately, it's trading below that, and it is now testing support, uh, the 2025 lows. So we'll have to see, uh, if Apple can sustain, uh, sustain its levels that it's been holding here. Uh, do want to get to Chinese stocks. Those have been jumping. Those have been a bright spot in the market recently. Uh, but futures. Something interesting in futures caught my eye this morning. That would be coffee. KC equals F is kind of coiling for a move. It's down today, uh, but this this formation here, this is a year to date. I'm going to put a five-year chart on. It's just kind of camping out near these highs. And given the recent run up, uh, I think it's going to be potentially, potentially a bellwether for some other action commodities here. Uh, going to leave you on Bitcoin. Bitcoin bounced off its 200 day moving average. So a lot of 200 day moving averages in play here. I'll put a year to date from that five year, and you can see just getting a little bit of a bounce there. My target still remains 70 to $72,000 for Bitcoin though. Brad.

07:22 Brad

All right. We're going to be watching very closely to see if we strike that target. Jared, appreciate it.