Markets check: Stocks edging higher, Chinese stocks under pressure

Yahoo Finance's Ines Ferre details the sector action heading into the day's final trading hour, as well as Nasdaq leaders and Chinese stocks.

Video Transcript

- OK, so enough references to what's going on in the golf world right now. Let's bring Ines Ferre and get to the markets. Ines, what are we tracking today?

INES FERRE: Well, it's good [? to ?] talk about what's going on in the bond market right now. So we are looking at the 10-year [? Treasury ?] at 2.66, 2.66%, and that is weighing on real estate today. So we're looking at the sector action. Real estate is lower. Communication services also lower. You've got the defensive sectors. You've got health care, consumer staples that are in the green.

But I do want to show you what's been happening over the last three days. Traders have been noticing the weakness in consumer discretionary, especially yesterday and the day before. And if you take a look at a year to date chart, consumer discretionary is down 11%. Fears of inflation, fears of a recession. Remember that consumer discretionary houses Amazon, Tesla, Home Depot.

Speaking of Home Depot, that is in the green today. Flipped into green territory after the company presented at a JPMorgan conference, saying demand for home improvement has never been stronger.

And I also want to touch on what's happening with the Chinese ADRs right now, because they are under pressure. JD.com down more than 2%. Baba also lower.

JD.com's founder, Richard Liu, he stepped down as CEO. And Tencent announced that it's shutting down its game streaming site Penguin Esports. So that's putting some pressure on these stocks. Dave.