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Market check: Stocks close higher after gaining steam in final hour

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Yahoo Finance's Jared Blikre reports how markets closed on Wednesday, as emerging markets and Chinese stocks show strong sentiment.

Video transcript

EMILY MCCORMICK: Let's head back to Yahoo Finance's Jared Blikre with one final word on the markets. Jared, what's on your mind?

JARED BLIKRE: Yes, we saw brisk markets pick up yesterday and pick up some hot money flows as well, especially surrounding the Powell testimony at his confirmation hearing that I think there was a collective sigh of relief. But today, the CPI print reversed some of that. So on the YFi Interactive, I'm seeing on my leaders sentiment screen kind of a mixed picture. In the upper left, we have Chinese stocks, emerging markets. Those did well today. So did semiconductors, solar stocks, and momentum stocks. All of those outperformed.

But what didn't do well, ARK Innovation components-- MJ-- that is the cannabis ETF-- retail, biotech, IPOs, gambling. So if you take a three-day look, this is looking pretty healthy here. You're only seeing transports, retail. And low volatility ETFs and-- excuse me-- sector is trading to the downside here. And if you look at Chinese stocks, KWEB in the upper left, that's up over 7 and 1/2%. EEM has a lot of similarities with it, so that explains that story.

But just take a look at what's happened in ARK over the last three days. I think this is one of the better sentiment indicators out there. Still a mixed picture. And then you take it down to today's time frame, only seeing Tesla and Shopify up. So a little bit of risk tolerance taken out of the market today. But all in all, all is not lost. And tomorrow's another day, as I seem to be saying day after day here-- because it is.

EMILY MCCORMICK: It certainly is. Thank you so much, Yahoo Finance's Jared Blikre.

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