Major market indexes (^DJI, ^IXIC, ^GSPC) close out Tuesday, April 9, around their respective flatlines — the Nasdaq Composite and S&P 500 moved ever so slightly to the upside.
Market Domination Overtime Anchor Julie Hyman breaks down the market action — also eyeing Treasury yields (^TYX, ^TNX, ^FVX) activity and oil prices (CL=F, BZ=F) — while Senior Markets Reporter Jared Blikre provides an analysis of the day's sector leaders and laggards.
For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.
Editor's note: This article was written by Luke Carberry Mogan.
Video Transcript
[BELL RINGING]
JULIE HYMAN: There's the closing bell on Wall Street. And now it's market domination over time. And we're joined by Jared Blikre to get you up to speed on the action from today's trade. So let's start with the major averages here. Down by about nine points for the Dow, so up off the lows of the session here, nearly unchanged going into tomorrow morning's CPI report, which is going to be the next big trading event.
The S&P 500 very slightly higher on the day, just ticking higher in the last few minutes of trading here. But not even up 2/10 of 1%, and the NASDAQ up about 1/3 of 1%. It also ticking up here towards the end of the session. Looking at some of the other asset classes that we we're watching that are pertinent to what's going on for stocks as well.
We had 10-year yields actually falling today, but that not really giving a meaningful boost to stocks, but down six basis points to 4.37%. We also continue to watch what goes on in the oil market. Crude oil futures continuing to pull back. Interesting though that this too did not give a big lift to stocks. But oil trading below $86 a barrel. Jared.
JARED BLIKRE: Yeah. It was interesting to see the last hour of trading. We got this ramp, it was actually right about the time that Jennifer Schonberger started interviewing Raphael Bostic. Is there a connection? Probably not. But I didn't see anything else on the tape. So behind me you see real estate in the upper left. That is the number one sector today up 1.3%, followed by utilities. So the two interest rate sensitive sectors up the most, and I'll throw tech in there.
Tech is also interest rate sensitive. But then you have staples, consumer discretionary, and health care. Only financials and industrials here closed the day in the red. And just looking at some of the leaders here, solar was a big winner. Tan, that ETF up 4%. Chinese internet also doing pretty well today up 1.5%. To the downside though crypto and cannabis, those two fringe stocks, or fringe areas of investment, both down about 3% today. Josh.