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MARKETS LIVE BLOG:

S&P 500 SLIPS BELOW 5,000; NASDAQ SINKS ON TECH DRAG

Nvidia tumbles 10%, Amazon loses more than 2% while Apple ends 1% lower

Stock rally; big bank comeback; Visa buys into Square; Amazon vs. Alibaba

Yahoo Finance

Stocks (^DJI, ^GSPC, ^IXIC) are rallying, boosted by financials and higher oil. Keith Bliss of Cuttone & Co. joins us live from the floor of the New York Stock Exchange to discuss the markets.

Yahoo Finance's Alexis Christoforous talks about that and some of the other big stories of the day with Yahoo Finance Editor-in-Chief Andy Serwer and David Nelson, chief strategist at Belpointe Asset Management.

Big bank comeback?

Are the big banks going to lead a stock market comeback? We're getting some signs today that that could be happening in today's rally. Shares of Deutsche Bank (DB) are moving higher as it announces a $5 billion  bond buyback, citing its strong liquidity position. Also getting a boost is JPMorgan Chase (JPM) after it announced CEO Jamie Dimon bought $26 million worth of stock. And the strong earnings report from Germany's Commerzbank (CRZBY) helped lift European stocks as well as those here.

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Squaring up

It's old news, but a new disclosure—and Jack Dorsey will take it, as Visa's putting a bid on shares of the payments company, Square (SQ). VISA (V) disclosed it owns about 10% of Class B shares of rival company Square, a position it's held for some time. Nevertheless, the markets are liking the news.

Amazon vs. Alibaba

And two 800-pound e-commerce gorillas are facing off in the world's second biggest market. Amazon (AMZN) is taking steps to help transport goods to China, posing a challenge to the big boy on that block, Alibaba (BABA). We should note our parent company, Yahoo (YHOO) owns a 15% stake in Alibaba.