Yahoo Finance's Ines Ferré breaks down how markets are trading on Wednesday.
BRIAN SOZZI: Over-- Ines Ferre over to you at the YFi Interactive.
INES FERRE: And, Sozz, all major averages right now are in the red with the NASDAQ down 1%. And taking a look at our sector action, we're watching utilities-- that's in the green-- it's been flipping between green and red territory. But you've got materials, communication services, and consumer discretionary that are leading to the downside.
Looking at the NASDAQ 100, just a few here that are in the red-- or green, I should say. Apple up 6/10 of a percent. But other than that, you've got Amazon down more than one and a half percent, Tesla down more than 1%. We're also watching some weakness with the Semis.
You're seeing a lot of red on this Semis chart. And then just taking a look at the travel stocks. The travel stocks also in the red, especially the cruise line operators. Defying all odds are the meme stocks, because you've got GameStop that's up one and a half percent. And of course, Sozz, I know you've been talking about this one quite a bit.
But we just have to show one more time. Bed Bath and Beyond up 27%, six straight days of gains. I'm going to pull up a five day chart. Up 151% over the last five days. A 10 day chart, up more than 300% over the last 10 days. And then just taking a look at oil and energy, because I know that we've been talking quite a bit about oil.
But I do want to mention what's happening with natural gas, because US natural gas futures yesterday settled at a 14-year high. Right now you're looking at a little bit of a down movement, but I just wanted to say that over the last year, natural gas futures have now doubled.
So consumers will be paying more. A lot of this has to do with reserve concerns here in the US, and also the energy crisis that's going on in Europe. And if you think that natural gas prices here are expensive, they're paying seven times more over in Europe, guys.
BRAD SMITH: Ines Ferre, thanks so much for rounding that all up for us here this morning. We're about 35 minutes into trade, a lot to keep track of. Thanks, Ines.