Yahoo Finance's Ines Ferré provides an update on how markets are trading on Wednesday afternoon.
AKIKO FUJITA: Sticking with the market action and the summer rally coming off the boil, investors have been chewing over the latest batch of retail reports as they look ahead to the release of the Fed minutes later today. Let's bring in Yahoo Finance's Ines Ferre, who's checking all of the market action for us this morning. Ines.
INES FERRE: Well, guys, we are seeing the markets that are down right now. And you're looking at the NASDAQ that's down 1 and 1/2%. If we take a look at the sector action, we're watching communications services, materials, consumer discretionary stocks, those are leading to the downside. You've got energy stocks that are clinging on to some gains. I'll get to that in just a second.
But first, let's take a look at that NASDAQ 100. We are watching Amazon down more than 2%. That's part of consumer discretionary. We're also taking a look at the semiconductors because the chips are lower. ADI Analog Devices reported its quarterly results, warning of some economic uncertainty impacting order. So that is why you're seeing a drag on these semiconductors right now.
We are also taking a look at the travel stocks. These are under pressure, especially the cruise line operators, some of the airlines, and also the crypto related stocks. These are also under pressure as you've got Bitcoin right now that is down 1.8%, just above $23,400 per token. And then just taking a look at where we're at with those energy stocks, as I had mentioned earlier, we are seeing some of these in the green. They're off their session highs.
We had some inventory data that came in with inventories last week coming down. And we also had seen oil coming up on those-- that inventory data. So we did see WTI up more than 2% during the session highs. Right now, we're watching WTI down. You remember that yesterday, oil closed at its lowest level for US crude futures since January 25, guys.