Stocks open mixed as pound falls, bitcoin rises above $19,000

Yahoo Finance’s Ines Ferre joins the Live show to break down how stocks are moving in early trading.

Video transcript

[AUDIO LOGO]

BRAD SMITH: Welcome back to "Yahoo Finance Live," everyone. Taking a look at the major averages. Oh, look at that. We've seen the NASDAQ just barely trickled into positive territory. And it's up right now by about 3/10%, 4/10 of a percent here early in trade, five minutes into the session. So we are mixed officially. Let's get on over to Yahoo Finance's own Ines Ferré, who's at the YFi Interactive. All right, so mixed, perhaps. We can see some good--

INES FERRÉ: That's right.

BRIAN SOZZI: Premarket it is.

INES FERRÉ: A mixed picture right now is what we're seeing. But let's take a look at the world markets because we've been watching the rest of the world as well, especially after the British pound falling to this lowest level against the US dollar.

So we are watching the FTSE 100 that's down more than half of a percent. We've also been taking a look at the Tokyo-- the Tokyo-- the NIKKEI, excuse me, down 2 and 1/2% as well. Shanghai right now, the Shanghai Composite down more than 1%. So a little bit of a mixed picture when we're talking about the world market because we just saw the NASDAQ turn into green.

Let's take a look right now at the major averages. We are still looking at some pressure for the Dow. And also the S&P 500, look, it's flat right now. So this likely will-- oh, excuse me, it's up right now. So we are looking at the S&P 500 that has also flipped.

Looking at the 10-year Treasury note, we have been seeing yields go higher so we're watching the 10 year up 5-basis points at 3.75. Of course, the US dollar index, it's all been about the dollar, really. And the strength of the dollar when it comes to these markets worldwide, really. When we just take a look at the US dollar index, it's at [? 113.38. ?]

Looking at the sector action, we're watching the heavyweights-- the communication services, technology stocks, consumer discretionary. These are the ones that have flipped into green territory. So if we just take a look at the NASDAQ 100, the one that's gaining the most right now, we're watching Amazon up more than 1%. Meta also higher. You're watching Nvidia, Microsoft, Apple, you get the idea.

Also wanting to take a look at the crypto space. We have been watching Bitcoin above 19,000 per token. So that is giving a little bit of a lift to some of the cryptocurrency stocks right now, guys.

BRIAN SOZZI: Ines, really liked your piece that we posted yesterday on gold. When you talk to people, what are they saying about this?

INES FERRÉ: Yeah, you know, it just depends. I mean, you do have a lot of analysts that are saying, gold is not-- it's been dull. Look, why has it not gone higher this year? You've got a lot of gold bugs that are saying that gold is-- you know, it's the inflation hedge. So why has this not gone higher? It all is really about the dollar.

The US dollar has put pressure on commodities. It is not letting gold go higher, also real yields. So a lot to digest in that piece. Thank you, Sozz, for that plug as well.

But that's really what a lot of investors are wondering. I mean, you had back in March, people that were really going into gold heavily. They were thinking, this was it. Not so the case right now.

BRIAN SOZZI: Thank you for writing that. And thank you for your analysis. Ines Ferré, thanks so much.