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All three of the major indexes (^DJI, ^GSPC, ^IXIC) opened higher on Tuesday, March 25. Investors are hoping stocks can build on the gains from Monday, when the Nasdaq Composite added more than 2%.
Morning Brief Anchor Madison Mills and Yahoo Finance Markets and Data Editor Jared Blikre break down the action at the open.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
And we are just seconds away from that opening bell. You can hear that ringing on Wall Street here. You're looking at the NYSE and the NASDAQ. Well, let's do a check on our markets this morning because good news, we've got more green on our screens, at least for now, to report. I'm taking a look at futures right now as I'm giving our screens just a second to react to the market open here, but as you can see, still looking at gains here. You've got your S&P 500 up just about a tenth of a percent. I'm going to wait for my NASDAQ to dial in here because I doubt that we're up 2% already this morning, but you've also got your Dow Jones Industrial Average moving to the upside. It's going to be interesting to see if those moves continue. We will eke out our third straight day of gains in the market here following a slew of sell-offs that we had seen off the back of a lot of uncertainty in the market. You've got an unwind of momentum. You've also got that tariff uncertainty. I just want to take a look at how our big tech names are doing this morning, fascinated by the move. We're seeing in Tesla here moving to the upside. It's one of the only companies I can think of that gets the news about a 40% sales plunge and the stock is still moving to the upside. No thanks there to Kathy Wood who said that she is still bullish on the stock. Taking a look at the rest of our Mag 7 though, you've got more green than we've gotten used to lately for these seven stocks here. You've got Apple just below the flat line hovering a bit. NVIDIA, the only one really staying in the red here this morning, down just about eight tenths of a percent here. And lastly, I'll do a little global look for us to see how we're doing when it comes to the global trade here. Interesting to see China moving down to the downside. You've still got Europe moving to the upside off the back of that European exceptionalism and of U.S. exceptionalism that we have seen more analysts this week saying that the U.S. exceptionalism trade is still intact. And as you can see, you've still got your major averages in the U.S. moving to the upside this morning. Let's get it over to Jared Blickre for a broader look at what's movement. Hey, Jared.
Thank you, Maddie. I want to go back to the S&P 500. I will put a year-to-date chart on here. And I just want to highlight, yesterday was a very productive day, reclaimed. This is the S&P 500, reclaimed a key technical level. That is the 200-day moving average. But just above that lies the January lows. And there's actually a few different reasons why that's a more important level. And we just haven't quite cleared that. So there's a little bit of work to do. One other thing I didn't quite like about the rally yesterday, it was on lower volume, and you don't want to see that on a big breakout. We did have nice participation. And in fact, it was the best day for small caps. This is Russell 2000, and the Mag 7, by the way, since the elections. So we definitely got some things done, but it's not convincing me just yet. Now I want to go to the 10-year T-note yield. That briefly touched the highest level in about a month here. And what's interesting, I like to look at the T-note yield, and then the dollar, those have been moving in opposite directions recently, basically since the February sell-off. And in that time, we just had this kind of different macro play and different forces at work that require a different playbook. That is still ongoing. So that maybe tells me that there's still some things for this rally to prove if we're going to get back to the prior leadership in the bull market. Now let's take a look at some of the sector action one more time. Maddie was just taking a look at that, but I want to make sure. There we go. Energy still in the lead. That's up 1%. Real estate, utilities, and staples, three very defensive sectors in the red. So this is a bullish setup for the day. And now let's talk a little bit about the Mag 7. We got Amazon and Tesla coming off the best day since the election. And the Tesla and the Mag 7 ETF MAGS are both approaching their 200-day moving average. Here is a year-to-date, and the 200-day for Tesla is just right up there, just within spitting distance. We'll have to see if Tesla can cross that boundary, but you can still see it is down 31% year-to-date. And Meta, let's take a look at Meta. And we haven't seen a 20-day winning streak in a while. There it is. But Meta bouncing off of its recent lows here. That was its best day in two months yesterday. So a lot of things, as I guess the theme here is, we got some work done yesterday, but some more to prove. Copper, want to take a look at copper. Almost every day I've had this headline, we're nearing a record. We're nearing a record. It's just been inching closer to a record high. But we're looking for those highs that we saw back in May, and it looks like we're almost there. On an intraday basis, we are not quite there. You don't see that in the picture, but suffice to say, copper at a record. And then I will close on Bitcoin. Let's take a look at crypto prices. Bitcoin coming off a two-week high. That's a two-year chart. I want to show you the five-day. Um, two-week high, but really seems like we got a ways to go here when you take a look at that one-year chart and we see those highs up there.