Yahoo Finance’s Jared Blikre takes a look at today’s market action, highlighting moves in Treasury yields, the energy sector, and Chinese stocks.
BRAD SMITH: Good afternoon. You’re watching Yahoo Finance Live. And today is Monday, April 18. We’ve got one hour left in today’s trading session. And here’s a quick look at what’s on tap today. First, put your seat back tray in the upright position as earnings season lifts off. Bank of America reported this morning, as investors continue to weigh guidance from the financial services sector amid a rising rate environment. And later on this week, on the earnings front, we’ve got results from Netflix, Johnson & Johnson, American Airlines, United Airlines, Hasbro, Verizon, and AT&T. They’re all on our watch list, and we’ll bring them to you.
Plus, the battle over the blue bird continues. Twitter executives initiate the early steps of a poison pill to prevent Elon Musk from completing an acquisition of the social media company. As for Musk, the serial founder and Tesla CEO, maintains his $43 billion bid and shared more details about board compensation and platform changes that he would make if the buyout is completed.
And if you’ve been getting saucy and overserved during the pandemic, you’re not alone. And wine producers are hoping to retain your attention. The Duckhorn chairman CEO and president joins us later in the show with the forecast for the luxury wine segment. I’m Brad Smith, here with Dave Briggs and Rachelle Akuffo, and we’re counting you down to the closing bell.
RACHELLE AKUFFO: That’s right. As you said there, just an hour away from the closing bell, so let’s take a look at where the major indices stand right now. All three in the green there, the Dow just barely in the green there at 0.09% there, up 30 points. The S&P 500 up 0.1%, and the NASDAQ there also just slightly in the green. They’ve been hyper oscillating all this afternoon. Well, let’s take a deeper dive into how the markets are moving with our very own Jared Blikre at the YFi Interactive. Jared.
JARED BLIKRE: That’s right, and so nice that I can see Dave in the corner of my eye, along with Brad. And Rachelle, you’re looking great, too. Just want to say, when we look at the indices here, only the Russell 2000 in the red. The other three not really doing much today. I do want to get a check of the sector action. We can see energy once again in the forefront. That’s as crude oil, WTI, touches nearly $110 per barrel. That would be a two-week high, followed by financials, consumer discretionary, materials, and tech. All of those are outperforming. To the downside, health care is the biggest underperformer, down 1%.
And when we take a look at what’s happening in the bond market, it kind of explains some of what’s happening in the equities, the sector diversification, or the sector movements today. You can see the 10-year T-note yield arising to a multi-year high. That tends to value– favor value stocks. But interestingly, as we saw there, tech also outperforming. So the 10-years up three basis points. Let’s check out the 30-year. It looks like that’s up about two or three basis points as well, and the 13-week T-bills yield up one basis point.
Let’s get back to our heat maps because we’ve got a couple of trending tickers to look at. And the first one is Tesla. You can see on our EV heat map more green than red, but it is a mixed board. Cathie Woods has upped her price target on Tesla to $4,600. And you can see year to date, Tesla is down about 4 and 1/2%. But over the last three years, it is up– wow, that’s up 1,750%. And she’s banking on the fact that Tesla could be valued– 60% of its value could come from robo taxis by the year 2026.
Also want to quickly show you what’s happening with Chinese stocks. Mostly in the red here, but the big news is Didi. They matched– they posted some disappointing numbers on their earnings call earlier today. And also, they have no listing plan once they list from the US. So think about that when you’re invested in any of these Chinese stocks. Guys.
DAVE BRIGGS: Jared, it’s also good to be back in the studio with you.
JARED BLIKRE: You bet.
DAVE BRIGGS: We’re close enough to do the knuckles. Good to see you, buddy. Good to be back here in the studio with you.