Stocks mixed at open, Meta leads communication services stocks higher
Yahoo Finance Live’s Brad Smith breaks down how stocks are trading following the opening bell.
[WALL STREET BELL RINGING]
JULIE HYMAN: If you take a look at the opening bell here this morning, though, right now we have enthusiasm. You can see BlackRock ringing the opening bell. You've got that enthusiasm and perhaps investors are heartened by Meta and maybe not bracing themselves so much for AAA after the bell.
But more so now encouraged, looking ahead, looking forward to those numbers and maybe hoping that they will not be as bad as maybe some of the earlier forecasts had warranted. We'll see what kind of pullback or not in consumer spending, in particular, is reflected in those three companies. So gonna be really interesting here.
Brad, I know you guys are gonna be talking about it after the bell. But in the meantime, we've got a big pretty big open here this morning.
BRAD SMITH: Yeah, we do. Well, the Dow, flat, just barely to the upside. That big open coming in the form of the NASDAQ Composite. Take a look at that last three-day aggregate move. It's now higher by 6% this week. And we'll see exactly what the rest of today nets out for us here.
But strong move in the tech-heavy average. S&P 500 up more than 1% at the open. And the Dow, that's just gonna keep waffling here, it seems, out of the gate. So we'll see if that can find some conviction one way or the other.
But taking a look at some of the S&P 500 sectors as we begin the day this morning. Eleven sectors, we got them all pulled up on screen here for you. You've got communication services leading the charge here intraday. My goodness, had to check my glasses there for a moment. It is higher by about 5%.
JULIE HYMAN: Meta. It's all about Meta.
BRAD SMITH: All about Meta, seriously, yeah. And so communication services, let's take a look at those past four days, as well here, just to kind of put that spike in perspective here on the day. Up 5% out of the gate. Leading the charge you've got consumer discretionary and technology. Also higher here, consumer discretionary up by about 2 And 1/4%. Bringing up the caboose, yeah, XLP. My gosh, consumer staples down by about 9/10 of a percent. We'll see if that can get right a little bit later on, Sozz.