Stocks edge higher at open, Big Tech mixed
Yahoo Finance's Brad Smith breaks down how stocks opened on Wednesday.
Video Transcript
[AUDIO LOGO]
BRIAN SOZZI: Look at the Aflac duck!
JULIE HYMAN: The Aflac duck.
BRIAN SOZZI: At the New York Stock Exchange the same day they're going to be lighting the tree outside the New York Stock Exchange. That is a huge day for the New York Stock Exchange, to have that duck and that tree outside.
JULIE HYMAN: Live duck. That poor duck.
BRIAN SOZZI: Oh, hell yeah. That is awesome.
JULIE HYMAN: That's got to be freaked out at all of the noise--
BRIAN SOZZI: Oh, is he just going to, like, let it loose?
JULIE HYMAN: --that is happening there.
BRAD SMITH: He should. Just let him fly.
BRIAN SOZZI: Oh!
JULIE HYMAN: I think that would be a terrible idea.
BRIAN SOZZI: My whole week made.
JULIE HYMAN: But what will be a good idea would be for you to tune in this afternoon to Yahoo Finance because Dan Amos, who is the CEO of Aflac, is going to be joining our team to--
BRIAN SOZZI: He created the duck. This was his idea. He got the duck launched over at Aflac. My hat's off to you. My hat's off to you.
JULIE HYMAN: As we get underway here this morning, we've got stocks that are little changed very slightly to the upside. By the way, we're going to be getting some more economic data coming out at 10:00 AM. So we'll be bringing you that when it does cross. And we could see if there's any other rejiggering what's going on here, including JOLTS, which are going to be very important, in addition to this morning's ADP data and pending home sales. Brad, let's go on over to you at the interactive, see what you're seeing there--
BRAD SMITH: Yeah.
JULIE HYMAN: --get underway.
BRAD SMITH: Not quite a duck, but the goose is loose here, at least for the NASDAQ composite. Out the gate, we're up by about 2/10 of a percent here. The Dow Jones Industrial-- hey, I try, guys. It's flat, but to the upside by about 31 points there out of the gate here.
And then the S&P 500, you're seeing that up by about 1/10 of a percent. Over the past two days, still net carrying some declines here. But we'll keep a close eye on that as we move forward here on a big day for everything Fed. But then the market's going to be highly reactive, perhaps, later on in today's session. So we'll keep an eye on that.
Let's also take a look at the NASDAQ 100 here. And for some of the mega-cap tech stocks, eh, you can toss them either way. Microsoft right now, that's higher by about 2/10 of a percent. Amazon down by about 1/10 of a percent. Google out of the gate, or Alphabet, that's lower by about 6/10 of a percent here.
And then also checking in on Meta, that's down by about 6/10 of a percent, as you've got even more layoffs that are taking place within the tech landscape. DoorDash the big name here on the day with 1,200 layoffs taking place. And then just largely taking a look at the sectors as we ride out and toss things back on over to the desk, we are seeing more advancers than decliners right now, Julie.
JULIE HYMAN: Yeah, energy big gainer there. Oil prices actually up about 3% today. So I wrote the "Morning Brief" the other day on oil prices erasing their gains for the year. Maybe that marked the bottom. I don't know.
BRIAN SOZZI: I printed out and saved it. It was great.
JULIE HYMAN: Yes, well, maybe that you should keep that as evidence of a bottom in oil prices. Who knows? We'll see what happens.
