Yahoo Finance Live’s Brad Smith breaks down how stocks are trading following the release of October’s CPI print.

Video Transcript

[AUDIO LOGO]

BRAD SMITH: All right, guys, let's take a look at the opening bell on Wall Street. New York Stock Exchange live shot coming up right ni-zow.

[BELL RINGING]

[CHEERING]

BRIAN SOZZI: Here we have that opening bell on Wall Street in what could be a-- really an interesting session for investors. We had the core CPI headline, CPI retrench month over month. Or I think another way of looking at it, we're seeing a slowing growth in consumer price inflation.

We saw futures really explode out of the gate here on that under the premise, Brad, that perhaps-- that perhaps the Fed dials back its interest rate increases. Jennifer Schonberger [? knowing ?] perhaps this puts the table-- puts the rate-- next rate hike on the table of about 50 basis points to 75 basis points. Right now, we're seeing the Dow now up more than 900 points.

BRAD SMITH: Yeah, take a look at this action and this jump that we've seen. I'm giving you a look at the two-day just so that you have some context coming into the start of this trading activity. And this is the move out of the gate, as you mentioned, Soz, up 900 points for the Dow Jones Industrial Average. 2.8% is what that equates to.

I also want to take a look at the Nasdaq composite. Look at this jump of 5% on the Nasdaq composite. For the tech-heavy average, we'll dive into some of the names that are moving the most on this news. I imagine within that tech landscape, you could see some of the megacap tech stocks certainly rising on this and the S&P 500. You're also seeing that jump and jumping, as Destiny's Child would say, by about 3.6% right now.

Let's also take a look at some of the sectors, as we've been tracking that for you here out of today's starting activity. You're seeing all 11 S&P 500 sectors in positive territory. And oh yeah, tech definitely leading the charge. It's up 5 and 1/4% right now.

Let's take a look at some of the megacap tech stocks as well. Here you're seeing Apple up 5%, Microsoft, Google. Amazon is up 8% right now. And Tesla even catching a bid in this environment where it's kind of a rising tide lifts all ships type of day. That rising tide is a massive green wave at this point in time, except for this company. They still manage to be in negative territory on the day.

[LAUGHTER]

We'll find the outliers, wherever they may be.

BRIAN SOZZI: You don't want to be that company when the Dow's up more than 900 points, and your stock is down. Not-- not good.