00:00 Speaker A
Josh, looking at the major averages, a mixed picture, and we have seen a bit of a rally that has been fading throughout the session.
00:07 Speaker A
So if you take a look at the Dow, it’s down near session lows, uh down about half of a percent. Also looking at the Nasdaq 100, it’s up about two-tenths of a percent, but again, near its session lows.
00:19 Speaker A
and also the S&P 500 just flipping into negative territory over the past few minutes.
00:24 Speaker A
Should point out that we have seen treasury yields climbing a bit higher. That tends to usually also impact other parts of the market like the stock market. So we’re looking at the 10-year treasury at 4.6%, the 30 year that’s climbed to 5.12%, and then the US dollar index that’s also inching a little bit higher.
00:43 Speaker A
Taking a look under the hood at the sector action on equities, we’re seeing that energy, technology, communication services, those are the sectors that are in the green as you had mentioned a rebound so to speak in the semiconductor space.
01:00 Speaker A
I’m going to pull over to the Nasdaq 100 so you can see on the left hand side, you’re looking at Broadcom that’s up more than 2%, Intel also up more than 3% as we’ve been seeing a rebound in semis with JP Morgan putting out a bullish call saying that perhaps the sector had gotten a little bit oversold.
01:21 Speaker A
Also Google up 1 and a half percent. It was up 3% earlier over a report that it is working on a new server chip that would be more efficient for its AI model.
01:36 Speaker A
And speaking of AI models, also noting that we are seeing uh some a jump in Alibaba more than 4% after that company unveiled a preview of its flagship AI model. So overall, the semiconductor space is where we’re really seeing a bit of a jump today.
