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Market check: Private equity firm TPG jumps in trading debut, stocks mixed

In this article:
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  • ^TYX
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  • ARKK
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  • IPO
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  • ^TNX

Yahoo Finance's Jared Blikre breaks down intraday market moves and sentiment indicators.

Video Transcript

ZACK GUZMAN: Well, after JustWorks postponed their IPO, we have our first big IPO of 2020 to discuss here. Private equity firm TPG making its trading debut on the NASDAQ after pricing shares in that IPO at $29.50 a pop. The stock popping itself, if you want to call it that, up by about a little over 10% right now in the early minutes of trading, as we see that come public. And of course, that's just one story we're watching in this session.

For more on everything there, I want to bring on Yahoo Finance's Jared Blikre. And Jared, you know, it's interesting. We had JustWorks kind of postpone their IPO because of market conditions. Obviously, JustWorks a very different company than TPG, but I guess, you know, both of them stories in terms of where we are in terms of the market recovery now.

JARED BLIKRE: Yeah, you know, it's kind of a difficult time to come to market right now. We just-- you were just talking about the one that the IPO that was pulled. TPG is a really big one. I'm not surprised that this found the buyers. There's a lot of eyeballs on this. So risk markets-- I mean, let's go to the YFi Interactive because I've been noticing a trend over the last day and a half, let's call it the 24 hours. I'm going to go to our leaders and sentiment markets. And let's put an intraday view on this. Here we go.

So right now, all these risks-- most of these are risk markets. And most of these are trading to the downside. This started yesterday afternoon. We are in day four of this week. And we started out in an uptrend, but a lot of that has been reversed. So you can see the ARK components giving up 4%. Not everything's red, but we are giving up some of the ground that was made. So I think this is going to be a frustrating year to trade in general.

I just want to pull up a chart of the S&P 500 because we recently broke down. I was watching this just a few minutes ago. No real catalyst here. We broke the big round number of 4,700. I would call this technical selling. But I'll tell you what, if we are in a sideways trading market, for the most part, I just think it's going to be easy to get frustrated to both the upside and the downside. And we've seen that in Fed years before when they're considering raising rates. Easier play might be to attack the bond market or commodities.

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