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Market check: Stocks rally after teasing bear market

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Yahoo Finance’s Jared Blikre breaks down how markets opened on Monday.

Video Transcript

JARED BLIKRE: All right, time for a check of the markets. We are in rally mode. That is after another week of losses. But we are starting the week on a bright. Now the Dow, the Dow is leading up 368 points. Just give you a quick five-day look. For Monday's last close, we are still down about 1.88%, as you can see there. Even the Russell 2000 in the green, but just barely. And let's take a look at the sector action. We do have financials in the lead. They're up about 2%, followed by energy, materials, tech, and staples. So kind of interesting leadership. We see both value and growth sectors on there. Those are outperforming.

To the downside, another bad day for consumer discretionary. That has gotten absolutely hammered recently. Amazon taking a lot of losses as well. You can see it's down 31% year to date. And let's take a look inside the NASDAQ 100, Julie, where we see a lot of green. And Apple's up another 2%. Alphabet and Microsoft also in the green there. Looking for some of the outperformers, well, let's see, not a whole lot of dark green that we can see. EA, if it's in the game, it is up 3%. Broadcom-- we've been talking about that acquisition-- that is down 4 and 1/2%, Julie.

JULIE HYMAN: Can you equal-weight that for a second? Because I'm wondering if we can look at VMware, which, is VMware in the-- it must not be because--

JARED BLIKRE: There's a lot of tickers.

JULIE HYMAN: I'm guessing it's up a lot today.

JARED BLIKRE: I do have the software heat map, so we can see it there. VMware was some here down-- we got a lot of names here, too. There we go, VMware up 18%.

JULIE HYMAN: 18%, yeah.

JARED BLIKRE: This is a stock that's been trending down for some time. It's gotten cheaper, like along the lines of our discussion, we're talking about a lot of these names have gone on sale. Well, Broadcom appears to be a buyer right now. So we'll have to see if that deal goes through. I think the estimates were something like a $60 to $70 billion deal, one, if not the biggest, tech transactions ever. So we will be monitoring that for you.

And let's take a look at the semiconductor space, where we can see Broadcom down 4%. By and large, looking at mostly gains for the space. And AMD and Nvidia notably down less than a 1/3 of a percent there, but Applied Material up 4%. I believe they just reported earnings last week. In fact, I'm sure of it because I was the one reporting them. So they are up today as well, Julie.

JULIE HYMAN: And I think the stock went down, if I'm not mistaken, in the wake of those numbers.

JARED BLIKRE: Let's take a look here.

JULIE HYMAN: Refresh our memory.

JARED BLIKRE: Let's take a five-day look because, yeah, we did get a drop--

JULIE HYMAN: So rebounding today.

JARED BLIKRE: Rebounding today. Over the trailing week, it's up about 4/10 of a percent. So I don't know if-- what else is on your radar here, Julie, but I am watching these Chinese stocks. We were talking about Xpeng a little bit ago, but we see jd.com up about 2%. Not any big movers here. I do have to mention Didi. They are going to go ahead with their delisting. And they have no plans for a future one. So, precarious situation for those investors.

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