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Stocks, sectors consolidate gains ahead of Monday’s closing bell

Yahoo Finance markets reporter Jared Blikre checks out market and sector gains ahead of the closing bell, while also looking at index leaders and crypto prices.

Video transcript

DAVE BRIGGS: All right, just a few minutes away from the closing bell now. Let's bring in Yahoo Finance's Jared Blikre to break down the market action. Hello, my friend. What are we seeing?

JARED BLIKRE: Yeah, we're seeing some outperformance by the NASDAQ yet again, and this is what's happening this year. NASDAQ up 2%, more than doubling the Dow's performance of only 0.8%. S&P 500 up 1 and 1/4%. Russell 2000 somewhere in the middle.


Now you're going to see tech. That's XLK in the upper left there. That is up over 2% followed by communication services and communication-- excuse me, discretionary. There we go. Discretionary category is up 1.6%.

Now, this is interesting because guess what the best-performing sector of the year is? It's XLC. That's communication services. Yet on a trailing one-year basis, you'll see that this is the worst sector. It's down 25%, down considerably more last year.

So let me just show you what's going on inside the sector here. Also formerly the telecommunications sector. So I'm going to turn this back to a year-to-date board and just kind of show you what's going on. And [? I ?] looking at this today because Spotify happens to be a member of this group. Of course, that's been in the news because of the job cuts. And you can see over the last year, this is a very depressed stock, though it is up considerably off those lows on a percentage basis. You can see down almost 50% year over year.

Now looking at some of the other big members here, Netflix is another one that's been in news. That's up 21%. Alphabet up 13% and so on. Just wanted to show you this because a lot of these sectors that have been the worst off last year have been the best off this year, and that's a theme that we've been going by.

Now I want to show you Bitcoin as well because if you've been paying attention to the news-- hope you have-- it has broken to the upside. And let me just put this on an intraday basis for our heatmap. You can see it's up 2% over the last 24 hours. Over the last year, this is the biggest rally that we've had. In fact, it's the biggest rally since these all-time highs. It's nearly 50% that we've had since we hit those all-time highs. And it doesn't look like a lot right down here, especially compared because it's at the bottom of the chart. But nevertheless, that is up nearly 50% from the lows.

Let me just show you what that looks on an intraday basis. Here is a two-month look at Bitcoin. So we can see that liftoff right here. We'll have to see if this continues, but $20,000 is my line in the sand for Bitcoin.

Now we want to get to the retail sector as well. Let me see if I can find this. Here we go. E-commerce has really been picking up here, and Shopify is the stock that we want to concentrate on right now. Shopify having its best day since November, and this is after Deutsche Bank raises its recommendation on the e-commerce play to buy from hold with a price target of $50.

It looks like we've got 30 seconds to the bell here. They're saying they expect enterprise adoption to accelerate this year, which should let the company to once again outpace overall US e-commerce growth. And they're also saying Shopify is up 25% this year and 85% off of its fourth-quarter low.

So let me just show you a max chart on Shopify before we head to the bell. They're looking like a lot of those other pandemic charts. Long way to go.

And just broadening this out, I want to take a look at the movie sector just for kind of a look at what's been happening on the entertainment--