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Stocks swing higher on March jobs data, end week in the red

The major averages (^DJI, ^IXIC, ^GSPC) close Friday's session higher, although ultimately ending the first trading week of the second quarter lower. Market Domination anchor Julie Hyman examines the day's trading activity for stocks and Treasury yields (^TYX, ^TNX, ^FVX) after a promising set of March jobs data.

Yahoo Finance Senior Markets Reporter Jared Blikre also monitors the intraday and five-day performance of various sectors and Nasdaq 100 (^NDX) leaders.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

Editor's note: This article was written by Luke Carberry Mogan.

Video transcript

JULIE HYMAN: Let's talk about where the major averages ended up. And by the way, you probably heard there was an earthquake today in New York City. That happened around 10:30 AM. I don't know if people stepped away from their desks for a minute to figure out what the heck was happening, but stocks rallied-- earthquake or no earthquake-- for those folks who are participating from the New York region.

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The Dow finishing the day up about 8/10 of 1%, the S&P 500 finishing higher by 1.1%, and the NASDAQ, the winner on the day, up by 1.25% here. Also, of course, watching what was going on in the bond market-- and what's interesting here is, you get this data today. You get a 7 basis point increase in the 10-year yield, and you still get that NASDAQ winning.

So back to bond yields going higher here and stocks going higher as well, which is more of a traditional relationship where you have bond prices go down, and stock price go up, or vice versa for that matter.

Elsewhere here, we continue to watch what's going on in the oil market. We're going to talk more about that in a moment. It was actually the best week for oil going back to early February up about 3 and 1/2 percent, when it comes to WTI. Jared's got a closer look at today's sector action and elsewhere today. Hey, Jared.

JARED BLIKRE: Hey, there, Julie. You're going to see in the Wi-Fi interactive behind me. I was looking at the industrials. This is a sector that is really done well this year. Caterpillar up 3 and 1/2 percent for the week-- that is the 11th week of gains. And then GE, that is 13 weeks for what used to be the most popularly retail-owned stock in the universe here, or at least on the solar system.

Let's check out the sector action, though. This is over the last five days-- energy, you said WTI crude having its best week since February. Well, guess what? Energy is a beneficiary here. XLC, that's communication services, also in the green-- but just about everything else in the red.

XLV, that's health care, had a bit of a stumble. I believe that's on the Medicare news that came out with respect to pharmacy benefit managers. But then we have real estate down 3%, consumer discretionary, that's retail, down 2.8, staples-- so the retail trade really suffering here, and financials not doing that well, either. Tech just kind of finishing in the middle of the pack, but still in the red there.

I want to show you what's happening with my leaderboard. Another oil ETF, surprise, surprise, is in the leadership position that is up 4.1%. Cannabis, we're expecting a lot of cannabis earnings next week. They also did well.

Chinese internet, which is uncorrelated, with US tech by a long shot, but also New York Fang did pretty well. So that would be some of the mega caps. What did not do well is retail I was telling you about, ARKK, that is an unprofitable tech, and Bitcoin, and also solar.

So the bottom roll, everything down by more than 5%, and it does kind of seem like we're just taking a little bit of a backseat here. I don't want to say the indexes are poised to revert. But they have stalled out a bit. And here's the NASDAQ 100. You're going to see an even split between green and red.