Yahoo Finance’s Jared Blikre takes a glance at markets heading into the final trading hour of the day, as well as looking at streaming and travel stocks.
– All right, guys. Let’s take a look at the markets here with just around an hour to go until that closing bell. You’re looking at gains across the board. The Dow up just over 100 points. The biggest gainers in the Dow today– Boeing, JP Morgan, and Verizon. Those three stocks leading the way. The S&P up just around 7/10 of a percent. The NASDAQ also up just over 50 points. Let’s get over to Jared Blikre for a closer look at today’s action. Jared.
JARED BLIKRE: It is great to see you back here, Seana. And let’s take a look at the YFi interactive, where we have a decent rally underway, although it has been a choppy day, as you can see from the squiggly lines on this chart. But hey, in positive territory. And after that big washout over the last two days into yesterday, right before the close, that could be considered a capitulation sign.
So given this, the bearish sentiment that we’re seeing, which is very elevated, we could have the makings for a nice rally here. But it depends on the Fed. We still got the VIX around 30. We got the MOVE index. That is around 135. And the 10-year T note yield– after just hitting 3% for the first time in years, that is backing off just a little bit. But will the pressure in the bond market abate?
Well, let’s take a look. We got some stories here that developed over the last few hours, AT&T raising its prices on mobile subscription plans for the first time in three years. You can see it got a little spike up on the news. Investors like the pricing power. But that is in response to– guess what– inflation, higher costs. So we’ll see what comes of that.
Also, Roku– let’s see if I can find that on here. Roku is, possibly, in plans with Apollo Global Management– that is our parent company– in a bid on Starz. And they would be buying that from Lionsgate Entertainment. And that would come after the Lionsgate bought it for, I believe, $4.4 billion in 2016. Now, we can see Roku has not done much over the last few years. In fact, it has round-tripped all of its gains.
But before we go, got to get a quick check on the travel sector. We have Airbnb earnings after the bell. But you can see the travel bookers largely in the red. That’s after Expedia, a little bit of disappointment on their earnings earlier today. But again, we got more earnings for you after the bell, guys.
– Indeed. Thank you as always. Yahoo Finance’s Jared Blikre there.