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Stocks trade higher at the open, investors weigh recession risks

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

Video transcript

- We got the Opening Bell on Wall Street coming up in just a moment. We had producer prices falling this morning. People still digesting the Fed minutes from yesterday. So let's see how it all shakes out as trading begins here this morning. There you see FS Investments ringing the opening bell on the New York Stock Exchange here this morning.

And when you have the Fed saying that, yes, there could, indeed, be a recession, on the flip side, when you have producer prices that came in with declines, and which is quite interesting here in this environment, even as consumer prices continue to rise, but does suggest that some of those input costs for companies are mitigating. PPI final demand down 1/2% month-over-month, excluding food and energy down a tenth of 1%. So that's seeming to be maybe a positive for stocks, perhaps, as we see all three major averages in the green for now. Not runaway gains, Brad, but still, a little bit green.

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BRAD SMITH: Yeah, a little bit of green here on the day. As we're taking a look at the Dow Jones Industrial Average, you're seeing that up by about 1/10 of a percent to kick things off, adds on to the net gains that we've seen over the course of this week. We are up over the past four days by about 6/10 of a percent.

NASDAQ composite up 6/10 of a percent out of the gate here today. However, over the past four days, net lower, as we've seen some sputtering in the tech sector over the course of this week. As of right now for the aggregate. It's down by about 7/10 of a percent over the course of this week.

The S&P 500, you're seeing that just about as flat as it gets, barely to the downside for this week. However, here today out of the gate, higher by about 3/10 of a percent. Also want to take a look further at the S&P 500, dig into some of that sector activity here. 11 S&P 500 sectors, we've got them pulled up on the screen for you here.

Utilities is the laggard right now by about 7/10 of a percent, the largest laggard, as we are relatively split, about as split as you can get for 11 sectors there. But, ultimately, communication services, you're seeing that move higher by about 1% out of the gate this morning. Also interesting activity that you're seeing in consumer discretionary. That's up by about 8/10 of a percent as well.

Also, just want to take a brief look at the NASDAQ 100. We'll give you a glimpse at some of the megacap tech stocks after we got that Amazon annual letter, the CEO letter from Andy Jassy this morning. You're seeing shares higher there by about 1.4% for AMZN. Also taking a look at some of those other megacap tech stocks, you've got Apple up 1%, Microsoft higher, but just by about 1/10 of a percent, Alphabet, AlphaGoogle, Google, whatever you're calling them, I'm calling them up by about 1 and 3/4% as well.

And then additionally here, just want to zoom out and take a look at the Dow 30 components here and largely in positive territory. But you still do have some laggards in the form of, interesting, big blue pulling up the caboose-- I tried to make it work. It's down by about 1.2% right now.

- Yeah, there was a report from "The Wall Street Journal" that IBM is looking to sell it perhaps its weather business, could be worth as much as a billion dollars. But that's not helping the stock, interestingly. And it's not a done deal. It's just something that it is reportedly exploring. So we'll keep an eye on that.