Stocks rise as traders mull earnings, favorable consumer data
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Stocks rise as traders mull earnings, favorable consumer data

In this article:
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Yahoo Finance’s Ines Ferre joins the Live show to break down how stocks are moving in early trading.

Video Transcript

BRIAN SOZZI: Well, let's go over to Ines Ferre standing over at the YFi Interactive. Ines, a lot's going on here in the markets, bank earnings, retail sales, consumer confidence. What are you seeing?

INES FERRE: Yeah, that's right. And that consumer confidence actually did send the Dow higher. We had seen the Dow up about 300, a little more than 330 points. And now it's up about 450 points.

Taking a look at the NASDAQ composite, that's up more than 1%. We're also watching the S&P 500, that is higher. We've been watching the US Dollar Index. Right now, it's just above 108, getting a little bit of a reprieve here. So this is also good news for stocks to go higher.

So if we look right now under the hood at the sector action, we're watching financials, health care, communication, technology, real estate that is in the green right now. And looking at banks, as I mentioned financials, after Citi reported, Citi up more than 8% right now. And remember, Wells Fargo after it reported, it was under pressure in pre-market? Well, right now, Wells Fargo being up more than 4 and 1/2-- oh, 5 and 1/2 percent. So really participating in this bank rally that we're seeing.

Looking over on the Dow, we're watching UnitedHealth up more than 3 and 1/2 percent after raising its outlook after its quarterly results. And over on the NASDAQ, you'll see quite a bit of green here on the screen. We're watching Amazon up almost 2%. Google or Alphabet up more than 1%.

The only red spots that you see are right here, here, and here. And these are the Chinese ADRs, so the Chinese stocks under pressure, extending its losses from yesterday. You're looking at BABA down more than 4%, NetEase also lower. In fact, I'm going to pull up a five-day chart. So for the last five days, pretty underwater for these stocks.

And then just taking a look at where we're at with oil, I mentioned the US Dollar Index, a little bit of a reprieve there. So we're actually watching oil going a little bit higher. And we're seeing WTI up more than 2%, just above $97 a barrel. And Brent crude just above 101, guys.

BRIAN SOZZI: Ines Ferre, thanks so much.