S&P 500, Nasdaq recover and close higher following March PPI

Stocks staged a recovery over the course of the day after initially pulling back on Thursday morning's Producer Price Index (PPI) data. The Dow Jones Industrial Average (^DJI) closed just 0.01% below its flatline, while the S&P 500 (^GSPC) and the Nasdaq Composite (^IXIC) managed to pull away and close the trading day out higher.

Market Domination Overtime co-host Julie Hyman looks over the performances of the three major market indexes, while Yahoo Finance Senior Markets Reporter Jared Blikre reviews the intraday activity of leading tech stocks in the Nasdaq 100 (^NDX).

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Luke Carberry Mogan.

Video Transcript

JULIE HYMAN: Let's start with where the major averages ended up the dow off the highs of the session, did recover of course from earlier selling down. It looks like about three points to end the day. But we'll see here as we get this settle happening. But the S&P and the NASDAQ a little bit more comfortably in the green than the dow here. Up 3/4 of 1% for the S&P. Up about 1.1 and 2/3 of a percent for the NASDAQ, let's call it. And what's been interesting today is as we look at that more benign PPI data.

That helped reassure investors. You see not much movement in the 10 year yield, up just two basis points 4.5, 8% after that very large move that we got up yesterday. So that allowing perhaps the gains to happen. Also not hurting matters. The fact that we saw some weakness in crude oil, which is something that has been periodically an obstacle for equities to push higher as of late. Trading today down about 2/3 of a percent, 85 to 64. Now we've got Jared with a closer look at today's action. Hey, Jared.

JARED BLIKRE: Thank you, Julie. Let me show you the NASDAQ 100 here. A picture worth a thousand words. It has all been about tech today. Apple up 4%, this is the biggest gainer in about 11 months. Let me just show you a two year chart. So you can see where we're coming from here. Really launched off of an important support level and this was potentially a double top. Looks like that has been averted at least for today. Apple has been down 11% this year.

So if it is now gaining. If it's part of the mix, you can only imagine a lot of other stocks are going to be helped by this in tech. NVIDIA, up 4%. That is not quite a record high for NVIDIA. Let me show you the year to date there. Just a little bit off of that. But it's been trading basically sideways and basing which is also bullish. Let's check out the sector action. I said tech was in the forefront. So is consumer discretionary and so is communication services. So the megacap sector is really outperforming, industrials real estate.

Just a little bit of contribution there, financial trading to the downside. Those were the biggest losers today. And let me just go back to the NASDAQ 100. I wanted to show you one thing with Amazon. Just finally reached another record high. This is the first record high since 2021. And that has been a long time coming. So a lot to celebrate in the megacap sector and arena there. Finally, let's take a look at our leaderboard. Not surprisingly New York Fang in the forefront.

But also Korean stocks bouncing back, chip stocks also Ark funds. Let me just leave you on unprofitable tech, showing a lot of green today Coinbase up nearly 5%