00:00 Julie Hyman
There's the closing bell on Wall Street, and now it's market domination overtime. Jared Blickre is on the floor today of the New York Stock Exchange. He'll be along in a moment to give us some details on the action in today's session. I'm going to start with the major averages here. Uh, the Dow when all was said and done, finishing down by 817 points. That's a drop of 1.9%. The S&P 500 down by 1.6%, and the Nasdaq down by 1.4%. Now, as we've been talking about throughout the day, the real pivot of focus, point of focus for investors today was at 1:00 p.m., and that's when there was the result of a an auction of 20-year treasuries. Now, that auction drew less demand than had been anticipated, resulting in a higher yield on that. This is really gets to the core of what investors recently have been concerned about. Is there less demand and appetite for US assets? It's just one auction, but nonetheless, with the sort of jitters in the market around that issue, we saw stocks across the board take a leg lower at that point in time and finish pretty much at the lows of the session. Jared's got a closer look at the action today. Hey, Jared.
01:59 Jared Blikre
Thank you, Julie. It's like I was talking with Josh yesterday after the bell. Everyone's going to become an expert on bond auctions so we can figure out what equities are doing, and today we got that downdraft. Let me just skip right down to the 30 year, and then I'll get into some heat maps. Here's a 30-year yield, and this is in central time, by the way, so you notice this is afternoon, but it's 1:00 p.m. Eastern. That's where the auction took place here in New York. Less demand than expected for the 20 year. The 30 year shoots up to 5.09%, and that is the highest in quite a long time. And, uh, let's get straight to, uh, some of the sector action today because it was pretty negative. It didn't start. The day did not start out well, and it's ending a little bit worse. Tech was the leader before the market, but you'll notice a lot of other selectors, sectors, end of the day, a bit lower. Real estate down 2 and 1/2 percent, healthcare a little bit less. Financials and consumer discretionary down 2% each. The best of the group were, uh, actually the consumer, the two consumer staples and communication services down the least. And if you take a look at the Nasdaq 100, you can really see some of the damage done. Uh, not a whole lot. Not seeing a lot of dark red. You do see, uh, PANW. That's an earning story from yesterday, Palo Alto, Palantir down 4%, but Google Alphabet stands out right in the middle there up 3% or so. And, uh, not a lot of other green on the screen. Netflix up just barely. Mercado Libre up about 9/10 of a percent. And if we take a peek at the Dow here, very similar story. Only Coca-Cola in the green. Uh, we got 3M trading to the downside, down 3%. United Health down 6%, Nike down 4% along with some of the other big ones. And transportations, which were transportation stocks, which were playing a game of catch-up recently, those are now underperforming, and we can see a lot of dark red. Uber, the biggest in the transports, down 3 and 1/2 percent. It's been hitting record highs recently, not today. Uh, United Airlines also down 4% and Delta down 3 and 1/2. Back to you guys.
05:27 Julie Hyman
Thank you, Jared.
