Nasdaq leads gains into market close, Walmart stock plunges in worst day since 1987

Yahoo Finance's Ines Ferre breaks down the market and sector gains heading into the closing bell, as well as tech and semiconductor stocks, retailers, and the commodity price actions surrounding crude oil and metals.

Video transcript


DAVE BRIGGS: Welcome back, everybody. We are just minutes away from the closing bell. For a deeper dive into the market action, let's head over to Yahoo Finance's Ines Ferre. With all markets in the green, nice to feel a little optimism for once, Ines. Hi there.

INES FERRE: Oh, that's right, Dave. We're looking right now at the NASDAQ that's gaining more than 2 and 1/2 percent, you're looking at the Dow that's up more than 1%, and the S&P 500 is also up more than 1 and 1/2 right now. The big leaders that we're seeing when we look under the hood at the sector action is technology stocks, material stocks, financials, consumer discretionary. Those are the leaders, the underperformer for today being consumer staples.

Looking at the NASDAQ 100 we're looking at Tesla, which is part of consumer discretionary, Amazon down up more than 4% or 3%, almost 4% there. You've got Nvidia that's higher. The Semis are seeing gains. You had that bullish note from Piper Sandler that is boosting some of the Semis.

And then when we take a look at the Dow, we're seeing Walmart that's down more than 11% after it reported its quarterly results. But the big leaders again, being a financial stocks. You've got Goldman Sachs, JP Morgan that's Up, Disney that's also higher.

And I just want to mention also what's happening with some of the Chinese ADRs. You've got which reported its quarterly results is up more than 4% right now. So a big pop is what you're seeing with some of these Chinese stocks.

And then as I mentioned Walmart earlier, I just want to mention also what's happening in the retail space because we have seen Walmart dipping today but you're also looking at some of the other stocks retailers that are also lower in sympathy with Walmart. So you've got Kroger that's down more than 3%, Dollar Tree, Dollar General, Target also under pressure, not as much as Walmart but certainly in sympathy after Walmart reported its results and outlook that is.

- Ines, what do you make of the move that we're seeing in crude today because crude ending lower pulling back from that seven-week high. I know we got some news on supply prospects, but how is that shaking out?

INES FERRE: Yeah, that's right. So you have WTI that's up about or down 2%. But it had been up at 115$ a barrel as you just mentioned. Some hopes on supply that could come online if the US starts talking again with Venezuela. So on the hopes that Venezuela Chevron could negotiate with Venezuela's Nicolas Maduro that has sent crude prices lower.

So you saw today crude prices going higher, now you're seeing them going lower. But I do want to mention, gasoline still at another all-time high. It's at $4 and 52 cents a gallon and now all 50 states with an average of $4 a gallon. So even if oil prices come down a little bit, it still takes time for that to trickle at the pump because you are still seeing record-high gasoline prices and people really changing their habits because of this.

I do also want to mention natural gas prices, those up today, up more than 4%. And just looking at some of the other commodities for the day, we are seeing silver futures that are higher, gold that it's relatively flat right now, the palladium futures up 1%. Year-to-date palladium now up 11%. And aluminum futures which we have also been talking a lot about up more than 1 and 1/2 percent, year to date up more than 5%.