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Stocks: Communications services, tech, real estate leading the way ahead of the market close

Yahoo Finance's Jared Blikre breaks down how stocks are performing into the market close as the Nasdaq leads a post-Fed stock rally.

Video transcript

DAVE BRIGGS: All right, just a couple of minutes away from the closing bell. Brad Smith is in the house for the next hour, very excited about that. Jared Blikre here to break down the market action. Little known fact-- does not pay for his Netflix account. They're coming for you, brother. They're coming for you.

JARED BLIKRE: You know, thanks for outing me, which I've done on this very show, by the way. Yeah, you want my renewal bucks? They don't exist. All right, let's take a look at the market. The outperformance this year by the NASDAQ continues. It is up 3%. The Dow is down a whopping 15 basis points. Not a big deal, but it just goes to show you that this year is definitely different than last year so far.

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Communication services, guess what? That is the Meta trade. We're going to be looking at the Alphabet trade and the Apple trade after the bell. But also consumer discretionary and tech are really outperforming. Haven't seen XLC with a six handle in some time. Real estate also outperforming. And guess what? Energy leading to the downside. That's down 2%.

But the NASDAQ says it all. This is the NASDAQ 100 components. You look at Apple, all right, that's up 3%. Microsoft, 4%. Amazon and Alphabet, 7%. Meta, 23%. Let's just take a look at a two-year chart here so we can see the record high. Now, Meta still pretty much in the bottom end of the range. But this is a pretty healthy nascent rally. Let's take a look at the two-minute chart here.