Stocks rise modestly at market open

Yahoo Finance's Ines Ferre joins the Live show to break down how stocks are moving in early trading.

Video Transcript

BRIAN SOZZI: Now let's get over to Yahoo Finance's Ines Ferre, who's standing by on the YFi Interactive. Ines.

INES FERRE: And Brian, the NASDAQ has flipped into green territory, right now up 0.6%. We are looking at the Dow that's slightly higher and the S&P 500 also up about 1/10 of a percent. Looking at the sectors, the NASDAQ right now outperforming basically because of communication services, which houses Meta and also Netflix. I'll show you that in just a second.

Looking at the NASDAQ 100, you can see here Meta up more than 4%. We're also taking a look at Netflix that's up more than 3%. But you've got Amazon down 2%, part of consumer discretionary extending its declines from last Friday's bloodbath, trading actually at its lowest level since May 2020. You can see here where Amazon was around the 2,400 level. Also, Wedbush took Amazon off of its best ideas list.

I do want to mention that we are seeing some gains with the semiconductor space. So we're watching Qualcomm, AMD, Nvidia up more than 2%. Over on the travel sector, we are watching Spirit down. This is a three-year chart, but Spirit down 7, more than 7% after rejecting Jetblue's takeover bid and sticking with the Frontier merger.

And finally, just taking a quick look at where we're at with commodities, we have been seeing oil sliding, WTI down more than 3%. Brent crude is also lower right now. And we are also taking a look. This Brent crude chart, by the way, is a little bit off, but it's down about 3%. We're also taking a look at gold futures, down more than 2%. Gold falling amid a stronger dollar or looming rate hikes. Brian, Julie.

BRIAN SOZZI: Yeah, that move in Amazon is something and definitely worth continuing to monitor going forward. Thanks so much, Ines.