Market averages (^DJI, ^IXIC, ^GSPC) open higher on Friday as all three US indexes aim to end the week in the green. The Dow Jones Industrial Average continues to climb toward an eight-day winning streak.
Yahoo Finance Senior Market Reporter Jared Blikre joins Morning Brief Anchors Seana Smith and Brad Smith for analysis of sector leaders, including the rally in utilities (XLU).
For expert insights and the latest market trends, click here to watch the full episode of Morning Brief.
This post was written by luke carberry morgan.
video transcript
Let's take a look at the NYSC and NASDAQ bells.
You got Zikar on NYSC and NASDAQ.
You have a doctor.
Okay, so fun Fetish clap and cheer And, um, is that a cat squishy mellow?
I don't know.
We'll look at this in a little more detail, but here's a simple MNDR to ring the opening bell.
Check out the market sponsored by Oishii Trade.
No squash.
The gentle cats out there are, uh, all leading the pack again and considering public service.
This week we covered utilities in detail, so come back and check out our videos on financial platforms. But look at the past year.
I'll give you a quick version of what we saw and talked about during that chat.
Year-to-date, utilities are up 13%, making the trend more green than negative.
That's good for us here this Friday.
But one of the other names we talked about in our utility and tangential chat was, uh, Staples.
But it's going in a negative direction, right?
Now out of the gate, we have regained some of the racing gains we have seen in recent weeks.
Okay, let's go back.
Let's move on to Jared Bricker. He'll be here and we'll take a closer look at some of these moves when we open.
Jared!
Thank you, Shana.
I'll just touch on sectors here.
But here's what happened this week.
So this is, uh, five days.
There are utilities.
Surprise, surprise, that's number one.
An increase of almost 5%.
By the way, this is the best week for utilities in 2024.
That's at the top.
Also for materials.
It's also XL B financially.
Yes, you can see that it's number two today.
So this week's three leaders just had their best week of the year and everything is going great this week.
So just by continuing to rise here, the S and P 500 Dow is now within touching distance of that record.
The Dow's highs have been in the green every day and every trade this month, so we'll have to wait and see what happens here.
This week's leaders are: We can see that oil is in first place after small scale oil producers.
This is an increase of 3.2%.
After that, socks are on track to increase by 3%.
Semiconductor stocks rose 2.3%.
The list goes on.
The worst position here was the arc. Let's take a quick look at it.
I understand that it is not profitable.
This week has been a bit unprofitable for the tech industry.
Obstacles were reduced by 21%.
Since this was about revenue, I would like to stop talking about miners here.
I've been tracking gold and copper miners.
These guys are on fire.
We see gold GOLD rise by 4.7% this week.
SLV.
That's a silver ETF.
That's an increase of 7%.
So, overall, you could say that the miners are in a kind of partnership with some of these precious metals and some of the not-so-precious metals.
Just skyrocket to a record or near record.
