Market check: EV and travel stocks rise, crude oil drops
Yahoo Finance’s Ines Ferre joins the Live show to break down how stocks are moving in early trading.
BRIAN SOZZI: Now let's get back on the markets here and go over to our very own Ines Ferre at the YFi Interactive. Ines.
INES FERRE: And guys, the market's pretty solidly in the green right now. We're looking at the Dow that's up 282 points. You've got the NASDAQ. Take a look at this movement. It was in the red, right now in green territory, at session highs as we start off the day.
Looking at the sector action, we are seeing that energy has been the laggard for the sectors during the session today, but still in green territory. Remember that energy was up for four straight sessions, and then you've got consumer discretionary that's leading the gains in real estate as well.
Over on the NASDAQ 100, look at this. This was earlier in red territory. Now you've got Tesla up more than 1 and 1/2%. By the way, a headline coming out of China that some 8,000 Tesla workers are heading back to that Shanghai plant that had been closed for a couple of weeks because of the lockdowns.
Over on the EV space, I want to mention one mover that's here and that being Plug Power, up more than 6%. This is after the company announced that it has a deal now with Walmart to provide green hydrogen for Walmart's forklifts. So that's sending the stock higher. And then finally, just taking a look at the travel sector, we are seeing the airlines, the cruise lines, all of these in green territory, guys.
JULIE HYMAN: Let's talk commodities for a second, Ines. What are we seeing on that front today?
INES FERRE: Yeah, so we are seeing a little bit of a pullback when it comes to oil. So let's take a look over on our commodity chart, and we're seeing that WTI is down. Brent crude is down more than 3%. Natural gas down quite a bit. Yesterday, natural gas was up quite a bit. You've got the situation in Europe, the energy shock in Europe. You've got the US that has been transporting natural gas to Europe.
And also you've got situations here where there's colder weather in some regions that has been sending the price of natural gas higher. We also had been watching yesterday corn futures, which had hit $8 a bushel for the first time in several-- many years.
JULIE HYMAN: So a little bit of relief on that front. All right, thanks so much, Ines.