Stocks move higher at the open, energy declines

Yahoo Finance Live’s Brad Smith breaks down how stocks are trading following the opening bell.

Video transcript

[AUDIO LOGO]

JULIE HYMAN: Well, we're setting up for the opening bell here this morning. And I'm just taking a look at the numbers for the week on the S&P 500. It looks like we're setting up for a very small gain of about a quarter of 1%--

BRAD SMITH: Hey, big money.

JULIE HYMAN: --right? And considering that recently we have been seeing some weakness-- the past three weeks have been down weeks for the S&P 500, so this would break that losing streak. Although, in pretty mild fashion, right? With just about a 1/4 of a percent increase. So more of us-- like, we had sort of that big reset, that big digestion of rate reset expectations. Now, the 10-year gets to 4% and across the yield curve gets to 4%. And now, maybe there's a little drift.

[WALL STREET BELL RINGING]

We'll see what ends up happening with that. There is the opening bell. It looks like Timing is ringing-- the old timing, now "TIME" magazine, I guess, is ringing the opening bell there this morning as we are looking at a little bit of positivity to end the week.

I mean, as I said, if we're just looking at a 1/4 of a percent gain for the week on the S&P, that can be wiped out relatively easily. But it does look like that we are pointing in a positive direction in today's session. So we'll see if we keep it there that way for the remainder of the day. Brad, as we look at the Interactive, what kind of action are we seeing to get things off? Oh, look, there's-- we have the weekly chart.

BRAD SMITH: I got the full week pulled up for you.

JULIE HYMAN: Love it.

BRAD SMITH: You know, you set them up, we knock them down here. All right, S&P 500, up fractionally over the course of the first 38 session-- the 38 seconds of the trading session here today. But over the past five days, holding on to a net gain of about 7/10 of a percent. Tech-heavy NASDAQ, that's higher over the past five days by about 1.1%, we'll round that off to. Higher this morning by about 1/2 a percent. And additionally, the Dow Jones Industrial Average, that's up by 1/4% out of the gate this morning.

Let's take a look at some of that sector activity, as we're tracking. It's just been a huge week, Julie. There's been so much going on, in terms of the investor days from Tesla. You've got a plethora of earnings that have come out both from retail, as well as some of the software companies, as well.

And so all of that considered here, let's take a five-day look at just how everything has done over that course of time. This is a five day look for you. We're just taking a look at the intraday. We'll get back to that.

But overall, you've got about four laggards on the week. Utilities pulling up the caboose on the week. But leading the gains on the week, up by about 3.2% on the sector performance, is materials here. So that is higher out of the gate this morning, as well.

And now, let's put this back on an intraday view here. You've got about 9 out of 11 S&P 500 sectors in positive territory, led this morning by communication services. That's up by 9/10 of a percent. Energy is pulling up the rear. That's down by about 1% right now. And just brief look at the megacap tech stocks--

JULIE HYMAN: There we go.

BRAD SMITH: --on the NASDAQ. There we go. All right, on the river it comes up. Apple, that's higher by about 1.2%. Amazon, 9/10 of a percent, a move higher there. Tesla, perhaps rebounding just a little bit here on the day. It's up by about 1.6%. And then you've got Microsoft, Google with some fractional gains. Meta Platform is up 2% right now.

JULIE HYMAN: Yeah, Apple, we're gonna talk about later, a Morgan Stanley call on the company. We're gonna get to that.