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Market check: Stocks pare steep losses in another intraday reversal

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Yahoo Finance's Jared Blikre examines markets heading into the final trading hour, the U.S. dollar, tech performers in the Nasdaq, and the sector action across industries and travel stocks.

Video transcript

- Well, let's head over to Yahoo Finance's Jared Blikre, standing by now at our touchscreen screen for more. Jared.

JARED BLIKRE: This is pretty incredible. Let's take a look at the DOW here. Up 173 points. I went back in history. At no point has there ever been two consecutive down days of more than 2% followed by a close in the green unless you go back to 1932. I gotta double check that, but 90 years, that is impressive here.

But what's not impressive is the low liquidity in the market. And that is sending the NASDAQ down. You can see it's well off of its lows but still down 8/10 of a percent. Here's the S&P 500 almost turning green just now. So we'll see what happens into the close. Finally Russell 2000 also in the same boat.

I want to take a look at the 10-year T-note yield because we are seeing that surge higher. It's up 5 basis points. And let's take a look at a candlestick chart here so we can see the historical price action. We had been in a little bit of a downswing even though we're still in an uptrend here. But that is igniting the value trade that we're seeing. Another thing I'm looking at is the US dollar index. Now that has given back most of its gains, but it's crawling back up into territory we haven't seen in some time. So we want to keep an eye on that too because it has important implications for global liquidity.

Here's our NASDAQ 100 heatmap. It's looking a lot better than it did several hours ago, especially on the open. You can see Apple up one third of a percent Tesla up one and a half percent there, roughly speaking. Both of those announcing their earnings today. Microsoft gonna announce after the bell. I will be bringing that to you. That is down two thirds of a percent, but a lot of these tech names that have gotten smashed just kind of clawing back some of those losses.

Is it going to be an investable and tradable bottom? We have yet to see because as I outlined at the beginning, this is pretty much almost an historic first. So let's take a look at the sector action. And we can see energy and financials and now real estate and health care. All of those in the green, but the real standout is energy. That's up to 3.7%. Let's just get a check on what it's done for the year. We can see it's up 17 and 1/2%. I think we just took out that high from last week, so energy really screaming to the forefront.

And then to the downside, communication services. That is off about 1% followed by utilities and tech, tech still having a tough time getting off of the jump. And here's the Ark Innovation ETF components. We see Tesla, Square, the new Block, those stocks are up. But aside from CRISPR as well, that's up 4%, really just seeing those stocks take it on the chin.

Finally, want to get a check of the travel sector. This has really turned around. We had a couple of airlines green earlier in the day. But now we have Delta up 2%. We have Hilton up 1%. Carnival Cruise lines up 2 and 1/2 percent. And Norwegian up almost 4%, guys.

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