Stocks open higher after June PCE data, Dow leading charge

The Dow Jones Industrial Average (^DJI) is staging a comeback at Friday's market open, up over 0.6% and moving higher from there. The Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) are following behind in positive territory.

Seana Smith and Jared Blikre monitor moves from the market averages in response to this morning's Personal Consumption Expenditures (PCE) inflation print for June and how indexes could close out the week on their five-day moving averages.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Video Transcript

And that's the opening bell on Wall Street.

We got confetti at the NASDAQ.

Also some excitement from bet way at the New York Stock Exchange kicking off the final trading day of the week doing a check of the markets.

Now, the movement at the open coming on the heels of that P ce print that we got ahead of the open here this morning.

I believe we are looking at gains at the open.

You've got the dow moving to the upside opening up nearly 300 points here in a rally.

And you're also looking at maybe a bit of a bounce back here, Jared in the tech space.

Yeah.

You know, it's gonna be interesting.

Let's track and see where we are the five day tally for the week and almost back to break even for the dow.

So a little bit of upside more downside.

Here's the NASDAQ composite down two and a quarter percent.

So that is the leader, the loser so far S and P 500 off.

About half of what the NASDAQ was want to check out what the Russell 2000 has now.

Russell 2000 exploded last week and it's been adding to its gains this week.

And finally, we got to check out the S and P 500 equal weighted.

So this is actually over.

Well, let's see.

Well, we're getting mixed results or maybe it's not, not getting that first print.

But anyway, we've seen kind of a dichotomy between the S and P 500 market cap and also the equal weight also want to get a check on the sector action.

And here we can see communication services that is the home of alphabet and meta that is up the most up 1.4% followed by industrials, tech consumer, discretionary, all of those outperforming.

And let's leave it with a look at the NASDAQ 100 more green than red Microsoft alphabet a little bit down.

But NVIDIA climbing closer to that record high.

Let's just see how close it is.

Uh It's been almost 30 days and I know people are counting, uh this correction here was 29 days.

So people are counting down.

Is it gonna be the same number anyway, we're getting there.

So lots of expectations for NVIDIA as well.

Impressive.

You need 29 days right off the top of your head.