Stocks (^DJI, ^IXIC, ^GSPC) Open Higher on Thursday Following Recovery from CPI Data-Driven Sell-Off

Stocks (^DJI, ^IXIC, ^GSPC) opened Thursday higher, continuing their recovery from Tuesday’s CPI data-driven sell-off. Yahoo Finance Senior Markets Reporter Jared Blikre breaks down the market action, taking a closer look at small-cap stocks (^RUT, IWM), Treasury yields, and semiconductor stocks’ year-to-date performances.

The opening bell on Wall Street rang at the NYSE and NASDAQ, signaling a positive start to the trading day. The Dow and the S&P 500 opened in the green, with the NASDAQ calibrating. Small-cap stocks, which had experienced a significant loss earlier in the week, were up 1% on Thursday, although they had not fully recovered from their recent downturn.

Jared Blikre highlighted the performance of the bond market, noting that the 10-year T-note yield was down 6 basis points. While the trend had been upward earlier in the year, there was a slight pullback in recent days. Blikre also discussed the semiconductor sector, which had reached a record high, with some stocks up 46% year-to-date.

In addition to small-cap stocks and Treasury yields, Blikre analyzed the transportation sector, comparing the Dow Transports to the iShares Transports ETF. He noted that Uber, a significant component of the ETF, had been hitting record highs, while the traditional transports were slightly below their peak levels.

Blikre also provided insights into sector performance, highlighting real estate as the top gainer, followed by materials, utilities, and staples. The defensive sectors were leading the market on Thursday. In the NASDAQ 100, there was a mix of red and green, with Alphabet and Apple down, while Meta and Tesla were up.

The focus then shifted to semiconductor stocks, with Blikre presenting a heat map of the sector’s performance. Some stocks had seen significant gains year-to-date, with SMCI up 236%, Arm up 77%, and Nvidia up almost 50%. The laggard chip stocks had caught up to the leaders, showcasing impressive growth in a short period.

Overall, Blikre’s analysis provided a comprehensive overview of the market action on Thursday, highlighting key sectors and stocks that were driving the positive momentum. Investors were closely monitoring small-cap stocks, Treasury yields, and semiconductor stocks for potential opportunities in the market.

For more expert insights and the latest market updates, viewers were encouraged to watch the full episode of Yahoo Finance Live for in-depth analysis and commentary on current market trends.

Editor’s note: This article was written by Luke Carberry Mogan, an experienced financial news and opinion writer with a deep understanding of market dynamics and trends.