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Markets accelerate gains into the close bolstered by tech stocks

Yahoo Finance Live's Seana Smith breaks down the gains seen across market indices and sectors, in addition to looking at tech leaders and the travel industry.

Video transcript

[MUSIC PLAYING]

SEANA SMITH: We're just 2 minutes here from the closing bell. Let's take a look at the gains that we're seeing this afternoon-- Dow holding on to its earlier momentum, on track to close up just over 400 points, NASDAQ composite up about 2.6%. The S&P-- well over 4,100 today, adding 66 points to the index, up just around 1.6%.

Earnings-- the big driver in today's market action, some positive news out after the bell yesterday, ahead of the bell this morning-- is setting the pace for today. Let's take a look at some of those momentum trades that we're seeing today. Moderna, a huge mover to the upside on strong earnings that they posted this morning before the bell. You can see the stock on track to close up just around 16%. PayPal, we covered that name for you after the bell yesterday, still a trending ticker today, on track to close up just around 9%.

Let's take a look inside some of the major averages. The NASDAQ first, pulling that up, some gains here from some of those larger cap plays. Apple up nearly 4%, Amazon up 4% as well. Tesla, Google, Microsoft, all up just over 2%. Nvidia, another name that's closely watched here, up nearly 2% in today's action.

In terms of the sector leaders that we're seeing today, technology leading the way with the XLK up nearly 3%. Consumer discretionary, communication services there, rounding out the top three sector performers this afternoon. We can see energy off nearly 3%.

And taking a look at some of the other trades that we keep a close eye on, some of the travel names, Expedia, Southwest, United, all moving to the upside today. Airbnb reported earnings after the bell yesterday, their guidance is what investors are taking some issue with. And you could see it off just around 1% today.