Market check: Stocks in the green as S&P 500 heads for third straight day of gains

Yahoo Finance’s Emily McCormick joins the Live show to break down market and sector gains, in addition to crude oil movements, the real estate sector, and bitcoin pricing in the crypto space.

Video Transcript

SEANA SMITH: [INAUDIBLE] health care and real estate leading the way. Let’s kick things off with Emily McCormick for a closer look at these movers this afternoon. Emily.

EMILY MCCORMICK: Well, Seana, as you guys were just mentioning, while stocks are holding onto gains in afternoon trading, the place that I want to start is with energy. Now, if we take a look at the “Yahoo Finance Interactive,” you’ll see here that WTI crude oil futures are moving lower on the day.

They settled just about a 1/2 hour ago. Those futures for August delivery settling at just over $106 per barrel today. Its lowest level since mid-May and they’re trading just below that level now in after hours trading for that commodity.

Now, over the past six days, continuing to see those declines– declines. Four energy commodities as– where concerns over recession continue to resurge in these markets. And that’s feeding into the sector action that we’re seeing within the S&P 500 as well, where you can see that the energy sector is by far the biggest underperformer during today’s session, followed by materials, as well as industrials.

Now, on the flip side, I do want to highlight the move to the upside that we’re seeing in the real estate sector. It had been an underperformer over the past couple of weeks, yet we are seeing a bit of a rebound today after we got some positive data on mortgage applications actually rising for a back-to-back week, according to the Mortgage Bankers Association. But again, you take a look at the month-to-date losses for that sector, still posting about a 4.3% decline.

Now, also want to highlight the action that we’re seeing within the Dow. Of course, that 30 stock index seeing quite a bit of outperformance when we look at the health care components as well, again, as some of those consumer staples. And on equal weight basis that comes into sharp relief here with United Health Care, Johnson & Johnson, and Procter Gamble the biggest outperformers.

And then finally, do want to, of course, get another quick check on how things are trending in the cryptocurrency space. Still seeing some risk off action here. Ethereum and Bitcoin prices both moving to the downside this afternoon. Bitcoin price is hovering right around those December 2020 lows at just over at the $20,000 level. Guys.