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Market check: Stock indices mixed, China stocks slump, cannabis stocks jump

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Yahoo Finance's Ines Ferre looks at the sector action in energy and utilities, Nasdaq leaders, Chinese stocks, and the cannabis industry.

Video Transcript

JARED BLIKRE: And we are tracking the market action. It is another boom day on Wall Street-- well, not for the NASDAQ. We're looking at the Dow up about 75 points here, S&P 500 up a quarter of a percent, and the NASDAQ up just about 3/10-- or down 3/10 of a percent. But it's really the bond market where we're seeing the moves higher in yields. The five-year up as many as, I believe, 15 basis points earlier.

Let's get a check on where it is right now. You can see up 19 basis points to 2.56%. Just want to draw attention that it is higher now than the 10-year yield of 2.48%, and the 30-year trailing those two leaders, up only eight basis points. But for more market action, we want to bring in Yahoo Finance's Ines Ferre. And Ines, what do you have your eye on as we close the week here?

INES FERRE: Well, Jared, as we close the week, I'm taking a look at the sectors, and we're seeing today, energy and utilities, real estate, financials, those are the gainers today. But if we take a look at a five-day chart, you can see for the week, again, energy, materials, utilities, technology outperforming the S&P 500 for the week. Staying on that five-week-- five-day chart, I do want to point out the mega caps here. Apple for the week set to close more than 6% higher. Tesla also higher about 10% for the week, NVIDIA as well.

Also looking at the Chinese names. A mixed picture for these over a five-day chart. If I pull up an intraday, you can see a little bit of a pullback today and yesterday. This is because of some renewed fears of delistings and also some earnings concerns about getting the regulatory crackdown over the last year and what that may be having on these companies, the impact on the companies.

And looking also at a two-day chart, I want to point out cannabis stocks because these today have been surging, as well as yesterday, over some positive headlines about some favorable US legislation. Our friends over at S3 Partners are saying this could be a bit of a short squeeze, quite a bit of short selling on some of these stocks. Guys.

DAVE BRIGGS: All right, Ines, thanks--

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