Yahoo Finance Live's Brad Smith breaks down how stocks are moving in early trading.

Video Transcript

JULIE HYMAN: Here, we've got the opening bell on Wall Street on this jobs Friday, As. We are seeing some weakness in the futures on the back of the better than estimated jobs report. Again, 255,000 jobs added to the US economy last month. The unemployment rate falling to 3 and 1/2%. And we saw average hourly earnings rising at the same rate month over month, 0.3%. So all of that equaling the perception that the Fed is going to continue on its path of raising rates.

So that's why we are still seeing some weakness here in stocks on the view that those who are hoping, the hopium pipe that Joe Brusuelas referred to at the top of the 9:00 AM hour, that maybe they ought to put that down and take a look at what's happening in reality. Brad, you're over there at the YFi Interactive, looking at how this is all playing out sector wise.

BRAD SMITH: Yes, in reality, this is what we're seeing early in today's trading activity. 52 seconds into today's trade, this is where we're opening up across the board for the sectors. Energy the only gainer right now, up by about half a percent. But you take a look across many of the other sectors, the biggest decliner here on the day, technology. You're seeing tech open up lower by about 2.3%, 2.4% here.

And just taking a look at the NASDAQ composite to get a closer look in on where some of the biggest movers are in tech right now, of course, you're seeing Apple, Amazon really some of the mega-cap names also seeing larger declines. Microsoft also down by about 3.3%.

Let me make this equal, just so you can get a better look at the heat map here and exactly where we're seeing some of the other deepest declines. And they are in some of the semiconductor names. Intel, for instance, and AMD, AMD really sending that shockwave throughout the broader chip space here on the day.

And before we get to the weekend, I don't know why, but I had the urge to take a look at some of the cars names, some of the vehicles names, especially as we've been talking about that over the course of this week. If you're going out there looking for a car, of course, one of the areas that the Fed interest rates, especially as we continue to talk about housing and mortgages, one of the other places that rates can affect is in your financing for vehicles, too, in the future.

And so keep a close eye on, even though we had seen some of the inventory concerns that names like Carvana, CarMax, keep a close eye on these going into the rest of the today, too, on the auto dealer front here. Carvana, though, that's down by about 5 and 1/2%, 5.4% early on in today. And so-- I don't know-- just got a little bit of urge for the automobiles this morning here, as we're continuing to track them.

JULIE HYMAN: Yeah, that is a great point about auto financing costs, so yeah, we should definitely continue to watch those.