Dow, stocks open higher following Nvidia's latest earnings

The Dow Jones Industrial Average (^DJI) is leading the way at the opening bell US stock market indexes (^IXIC, ^GSPC) start Thursday's session off in the green.

Brad Smith, Alexandra Canal, and Jared Blikre look into trends in the market volatility levels (^VIX), the small-cap Russell 2000 index's (^RUT) multi-year gains, and the Nasdaq 100 (^NDX) tech leaders after Nvidia (NVDA) failed to impress investors with its positive second quarter results.

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

Just seconds away from the opening bell on Wall Street and in Midtown Manhattan at the NASDAQ There, you're taking a look at the futures.

We are higher across the board right now.

You got GDP revisions.

You got earnings reads out this morning.

We'll continue to break some of those down.

And you've got bell ringers, Ladies and gentlemen, Boys, Girls, Metropolitan Commercial Bank Celebrating what looks to be like 25 years and, uh, at the NASDAQ, You've got cogent with the opening bell there.

Ticker symbol CCO I.

All right.

Confetti in the air and market gains almost everywhere.

At least across the major averages.

As we begin today's trading activity here, we're zeroing in on the S and P 500 out of the gate.

As of right now, it's up by about 4/10 of a percent NASDAQ composite.

You're also seeing that up to start things off.

It's up by about 3/10 of a percent.

And the Dow Jones industrial average.

That too, seeing some gains up by about 7/10 of a percent right now.

Yeah, and I wanna highlight the, uh, vic the volatility index that's hired today.

We have seen invidia shares struggle after those lofty expectations.

Also, if you take a look at the 10 year note edging slightly higher today, trading around 3.8% ahead of that core PC inflation data, that is the Fed's preferred inflation measure.

So that's going to all factor into what we see with that September rate up.

And now let get to Yahoo.

Finance is Jared B for a look at what's moving today.

Jared seeing thank you, Ali.

I was just watching the small caps because they've had kind of a rough go.

They've been under performing, and meanwhile, the major industries really haven't done much this week.

It's just been a lot of chop, and that's probably fine by investors as this is the prelude to a holiday week.

A lot of people are already on vacation.

Here is the last few days the last four days.

To be specific.

Here is a year to date chart and really to show you the entire picture on small caps.

I got to give you a three year picture because that's the last time we had a high and there is a five year that kind of paints things and rounds things out for you, but we've just been in this giant consolidation, and we might have more time to go.

So for all the talk about small caps, when are they going to lead?

I'm holding my breath as well, so I also want to highlight the US dollar heading higher.

So is the 10 year that could have important ramification for sector action, but I'm not really seeing it just yet.

Here's consumer discretionary that is up 1% that is in the lead.

That's XL.

Why their energy is number two.

That's XL E to the downside, we only have real estate and staples trading in the red.

And let me just show you what's happened this week.

On a four day chart, you got financials up 1% tech down just over 1.5% consumer discretionary.

That's, uh, Tesla.

That's also Amazon in there.

That's also lagging.

So the mega caps really lagging a little bit here today, this week and then on a year to day basis.

I think it's interesting that communication services, financials and utilities, these three sectors up here are the best performing sectors, so utilities right up there with financials did not expect that.

Let me just round this out by looking at the NASDAQ.

We see NVIDIA.

That's down 2.5%.

That's the stock everybody's watching today.

But for an earnings report, that was a little bit of a disappointment.

That is not a big move.

The options market was pricing in a 10 percent move, so kind of a gift to investors, at least if you're on the right side of that volatility trade.

Also, Super Micro has been really interesting.

I do want to point out that stock is now down 60% from its record high, which was very recently.

Here's a one year chart.

Here's that record high down 60% but you'll see on a one year basis still up 73% and year to date up over 60%.

Guys, Jared, thanks so much Teaming up today's market activity.

Appreciate it