Yahoo Finance markets reporter Jared Blikre examines market and sector rallies ahead of the holiday weekend, as well as bond market movements, retailer Kohl's, and the semiconductor industry.
SEANA SMITH: Let's take a look at where things stand here. We're kicking off a new month, and it looks a little bit better compared to what we've seen over the past six months. Dow, S&P, and NASDAQ in the green at least for today with the Dow up 215 points. Jared Blikre standing by with a closer look. Jared, on a weekly basis, a bit of a different story.
JARED BLIKRE: Yes, it is. And as you can see, all in the green here. But I'll show you the S&P 500, up about 6/10 of a percent today, but down 2.5% or so for the week. And let's take a look inside the market.
This is the S&P 500 over a two-month period. You can see over the last five days, really didn't sell off-- excuse me, we did sell off from last week's high. So let's take a look at the bond market, because that's what's really been on the move this week.
And we can see, boom. That is about 35, 40 basis points in total range. Does not happen that often. And we are closing-- in fact, we settled at 3 PM below that critical 3.0% mark. So are we going to see a growth rally?
Well, not today in semiconductors. But we do have some other areas flying high. Utilities is up 2%-- excuse me, consumer discretionary, that's also up 1%, real estate 1%, and staples, those are up 1% as well. Kind of a defensive setup to the market right here.
Do want to take a look inside the retail sector, where it's mainly green except for one name and that is Kohl's. That is down 17%. No deal for Kohl's just yet, but maybe another day. Also want to check out some of the other sectors-- check out what's happening with semiconductors, a bloodbath.
A lot of red here, but contrast that with software. Now, the news yesterday was Micron pre-guiding, really slashed their guidance for the third quarter. So we'll have to see what comes of that. But finishing the week here, let's get a look at our leaderboard. We can see homebuilders, ARKK, IPOs, and biotech, those are the leaders today.
DAVE BRIGGS: All right, Jared Blikre, thanks so much. Happy fourth, my friend.
JARED BLIKRE: Back to you.