00:00 Speaker A
That’s a closing bell on Wall Street, and now it’s market domination overtime. Jared Blickley going to be along in a moment to get us up to speed on the action from today’s session. Let’s start with where the major averages ended the day. And we should note, first of all, that we are moments away from expected comments from President Trump giving some kind of details about auto tariffs. We don’t know what those tariffs will be. We don’t know who they will affect. We don’t know if there will be any exemptions, but we did see the anticipation of these headlines affecting stocks today. So, that’s when we really started to see deteriorations, when we started to get some reporting that these tariffs were going to be coming or announcement was going to be coming. The Dow down 134 points here off about a third of 1%, near the lows of the session. The S&P 500 down 1.1%, and the NASDAQ down about 2%. Ironically today, the worst selling not necessarily in the automakers, but in the sort of higher growth uh beta names, you know, higher risk names that we tend to watch. I.e., large cap tech. I know Jared has been watching all this very carefully as well. He is on the floor of the New York Stock Exchange. What do you got, Jared?
02:13 Jared
Well, I think it’s important that we back up a little bit and just kind of review what’s happened recently because we’re facing some headline risk today. So, let’s go to the YFi interactive. And specifically, I’m looking at the S&P 500. I need to put a candlestick chart on, and I’m going to show since the beginning of the year. That’s a year to date. I’m going to put on the 200-day moving average. We just closed above that two days ago on Monday. That was a technical signal. Not at all clear, but it was a signal for some of the bulls to get long again, or to add some risk. But then we stalled out the very next day right right above that level. And that was the January lows. And so what that’s telling me is this might have been a little bit of a bull trap. That was just waiting there to happen. Almost didn’t matter what the bearish news was today. This is the realization of that. So, let’s go to the VIX. I want to plot that because that shot up just a little bit, not a whole, not a whole amount, but that is probably the biggest uh increase that we’re looking at since March 10th, since March 13th. That’s going to be some of these movements that we saw up here. And by the way, this is the worst day for the S&P 500 since those lows, since that March 13th low that actually kicked off uh this little bit of a rally that we’re trying to cling on to here. So, let’s take a look at the sector action and see what’s filled here. Uh we are seeing defensive sectors leading. So, that is really not bullish. Staples is up 1.56%. Then you have utilities, then you have energy, real estate, materials all in the green. Not all of those are defensive, but it’s kind of a defensive setup uh in net. And then tech just took it to the downside, down 2.24%. Consumer discretionary similarly down. Uh those were the underperformers. So, those did worse than the S&P 500. But in third place here, we got communication services. And we’re going to see how this affected the NASDAQ 100, which you can see on your screen right now. Nvidia down 5%, so is Tesla, Broadcom almost there, Alphabet down 3%. It’s kind of a nasty looking board again. And it’s been this is the ninth day of the rally that uh I was talking about just before. Here is the nine-day total. So, you’re still seeing some green, actually a lot of green there. So, it’s not the end of the rally, uh but we do have something to prove here.
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