Stocks open slightly up, eager to rebound from sell-off

US equities (^DJI, ^IXIC, ^GSPC) open Monday's trading session relatively flat following yesterday's wide-spread sell-off that saw the Dow Jones Industrial Average fall over 1,000 points and erase $650 billion in Magnificent Seven tech stock's market cap.

Seana Smith and Brad Smith monitor index movements after the opening bell, joined by Jared Blikre in examining the S&P 500 volatility index (^VIX), Treasury yields (^TNX), and this morning's sector gains.

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

All right, We're taking a look at the opening bell on Wall Street and in midtown Manhattan at the NASDAQ.

You're watching the morning brief brought to you by Invesco.

We've got some great bell ringers Neurogen getting some fun fetti at the NASDAQ, and you've got the Greenwood project ringing the opening bell at the NYSE.

All right, great bunch of folks there on both sides here.

Let's take a look at the markets as we kick off today's Trading act activity.

We are mixed right now we're seeing, actually, there we go.

That's calibrated.

We are seeing gains across the board.

I was wondering what would happen would have happened for a second there.

But anyway, the Dow, uh, flat just barely to the upside.

We'll see if we can hold on to those gains.

Got a long trading session ahead of us to try and rebound from yesterday's deep declines for the Dow, the S and P 500.

Right now, that's higher by about 3/10 of a percent and the NASDAQ composite up by about 4/10 of a percent.

Uh, you know, just as quickly as I said it was in positive territory, the Dow now in negative territory.

Yeah, exactly right around the flat line there.

I think it's too early, obviously, to tell just what direction the market is going to go.

There's lots of worry that's still creeping in and still in the markets, especially following yesterday's sell off and the losses that we saw on Thursday and Friday.

I also wanna pull up the Russell 2000 if we can, and take a look at the small caps we could be, as we had talked so much about this rotation into small gap into small caps ahead of that three day route that we had been seeing.

So here we are today.

We're looking at another day of losses and when you take into count the losses that we've seen over the last three days, we are now off over 10%.

Uh, that we were at the start of the trading session on Thursday.

So again, where we closed on Wednesday, So we've seen a bit of a reversal there, along with the weakness really across the broader market.

So again, questions about whether or not the rally that seemed to be taking place in the market if that is something it's going to hold.

It doesn't seem to be, at least at all now.

But again, questions here as we talk about what is ahead and what what investors need to be prepared for in the coming trading days.

Yahoo finding is Jared is a close look here at what is moving Jared.

You know, Shana.

It was pretty frightening, frightening yesterday, but nevertheless the S and P 500 not even in correction territory just yet, meaning it's not down 10% from its record high.

And just taking a look at the Dow over the last two days, you can see, Yes, we were bouncing back a little.

Actually, we're in the red right now, still down 2.6% over that time, the NASDAQ And let's see if we can maybe get a two day chart there, still down almost 3% over that time, even though it's bouncing back about 55 basis points today.

But the indices themselves have not really gotten off to a great start this month.

In fact, it's the worst start to any month for the S and P 500 the NASDAQ since 2002 quite some time ago, and we just had this huge shock yesterday.

I'm going to show the one more time because I think it's important to show on a relative basis how big that spike was.

This is a 20 year chart.

I'm gonna put candles, stock candlesticks in so you can see the very the very all the action there.

And we had the biggest spike, the third biggest spike.

Hard to see there yesterday, uh, that we've had in the index since 1990.

Then you take a look at what's happening with the bond bond market, where you have yields bouncing back after the drubbing that they took yesterday.

But they started came back yesterday morning, so there was already there was already a recovery underway.

So with all that in mind, just wanna show you what's happening in sector land Tech XL K. That's a 1.6% that's leading the way.

Uh, then after that, we have staples and industrials.

Those are the ones that are outperforming real estate, the only sector in the red.

But I wanna show you what's happening over the last two days, and you can still see there is a lot of territory to potentially potentially be reclaimed.

There, guys