Stocks hover above flatlines to kick off June trading

The three major market averages (^DJI, ^IXIC, ^GSPC) open Monday — the first trading session of June — slightly above their flatlines. Morning Brief Hosts Seana Smith and Brad Smith monitor the market action after the opening bell, while Yahoo Finance Senior Markets Reporter Jared Blikre observes movements across sectors and within the 10-year Treasury yield (^TNX) and the semiconductor space.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Video transcript

There.

You're taking a look at some of the averages out of the gate here.

We got some green across the screen for the uh opening cross.

We certainly do.

When you take a look at some of that sector action, you've got chip stocks leading the way that's pushing technology higher here.

Big reason why you're looking at the NASDAQ leading the charge as we wait for it to calibrate just a little bit here, but lead the charge at least at the open as opening trades shake out over the next several minutes.

But again, you got the Dow just above the flat line.

You've also got the S and P getting closer and closer back to that 5300 level.

Let's sit over to Jared B standing by who has a closer look on some of those movers here at the open Jared.

Yes.

Let's load up the Wi Fi Interactive behind me.

I'm taking a look at the Dow and the Dow has been lagging the general market but not Friday.

When I say the general market, I just mean the S and P 500.

But this was the uh the very end of the day we got some of today's action there on that, right.

Most candle, but we did see a bang into close, which I haven't seen in quite a while.

Now, here's what the NASDAQ is doing today and you can see up its gap a little bit there.

But I want to focus on the S and P 500 compare what we normally look at.

This is the market cap weighted index.

And here we have these record highs and we're actually pretty close, not far off from them.

But you take a look at the equal weighted.

And that's a different method of calculation where everything is equally weighted, every stock gets vote whether it's Apple or waste management.

And here we see that this peak was not able to exceed the one from earlier in the year.

So this is a form of divergence at traders track uh potentially until it's resolved.

You got to think, well, maybe we could go down a little bit from here.

Also want to check in on the tenure tino yield that along with the dollar and I'll throw the Vicks in there and I'll also throw in uh the I put those three together.

Uh All three of those are down from last week highs.

So that's kind of a, a tailwind for the markets and real quickly, I just wanna take a look at the sector action tech is the only outperformer today.

Uh But what I've been tracking pretty closely is software versus semis and I'll give you a look at today.

Well, you can see that semiconductors are once again outperforming and here's a year to date where you can see semiconductors really close to those record highs while software just flagging a bit.

All right, Jared.

Thanks so much for bringing that down for us.

Of course, some traits to keep in mind here as we kick off first training day of June.