Tech stocks lead Nasdaq lower, JPMorgan upgrades some China stocks

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

Video Transcript

BRIAN SOZZI: But first, over to Yahoo Finance's Ines Ferre at the YFi Interactive. Ines.

INES FERRE: Guys, a similar pattern to what we've seen before. Right now, we're looking at the NASDAQ that's down the most, down more than 1% out of the major averages. The S&P and the Dow also lower. Looking under the hood, we are seeing in our sectors that we're looking at technology that's under pressure or consumer discretionary financials under pressure. It's a similar picture to what we've seen before, and energy is outperforming right now.

Over on the NASDAQ 100, we are seeing the mega caps on the left hand side. Those are under pressure. Tesla down more than 2%. We are seeing some outperformers, Netflix losing some of that steam, though, after a Wedbush upgrade, up about half of a percent right now. Net is higher. In fact, I'm going to pull up the Chinese ADRs. A little bit of a mixed picture for some of these, JP Morgan upgrading some of the Chinese stocks. We're looking at Nio, Xpeng. That's in the green right now.

Over on the travel sector, we are looking also at a mixed picture here. Sozz had mentioned JetBlue. That's down more than 3% right now. Airbnb down more than 3%. Some of the cruise liners in the green, guys.

BRIAN SOZZI: Ines Ferre, thanks so much.