Nasdaq, stocks open higher as volatilty eases out of markets

US stocks (^DJI, ^IXIC, ^GSPC) are moving to the upside at Friday's market open, marking the final trading day of August ahead of the Labor Day Weekend. The volatility index (^VIX) is also easing lower.

Brian Sozzi, Brad Smith, and Jared Blikre cover the morning's market moves, turning their attention to the S&P 500 Equal Weight Index (^SPXEW, ^SP500EW) and leaders across sectors and in the ETF space.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Transcripción del vídeo

That is the opening bell on Wall Street.

You've got an Juliet ringing the opening bell at the NYSC and then you've got, er, shares ringing the opening bell at the NASDAQ.

They get some fun fetti on this Friday here.

Where's Romeo?

He might love dropping that joke on a Friday.

I mean, look, he might have got pushed off the podium up there.

Who knows?

He's probably an NVIDIA shareholder tough week for him.

Yeah.

Well, anyway, taking a look at the NASDAQ which uh has the NVIDIA in it as well as the S and P 500.

Uh, they're not doing too bad here on the day, at least out of the gate.

You're seeing the NASDAQ deposit up by about eight tens of a percent.

Let's populate this chart for you.

Just give you a look at how things have been going over the course of this week.

Some bad candles six that you saw on Thursday here, I made the mark.

So I'll just circle that, why not?

And then additionally, here taking a look at the S and P 500 that out of the gate up by about half a percent.

Not a good five day.

Look there that you've seen that I have time to touch something.

Well, I'm gonna touch anyway.

Let's see if it goes volatility index.

You know, we've talked all, uh, really all week long about how volatility has fallen down the market, uh, from that really high in the earlier month.

Uh, really with that, with stocks really essentially crashed.

Market calm is back.

Brad mark is back good ridden for now to the early days of August when volatility did spike, uh, to levels that we hadn't seen since the onset of the pandemic.

Some levels that we hadn't seen even until since prior to that as well.

Some of those new all time highs actually that we saw in the Vicks.

And then additionally, here, since you're hitting the one month chart things, no, it's fun.

There's the peak, there's the peak, early August stocks really under pressure and things have come back down on Wall Street, kind of digging it.

There we go.

All right.

Well, for more on today's trading activity out of the gate here, let's get on over to Yahoo finances, Jared, Bry, who's standing by at what we call the big, big, I tried to call it the Jumbotron.

I've been, uh, I've been voted down, Jared.

I'm sorry, I like the big, big and, uh, I love a V analysis on a Friday morning here, especially as we head into a Labor Day weekend.

Uh, this is I think this was a pretty good week overall.

You're gonna see the major indices.

They were in the red, uh, for the most part.

But, uh, it could have been a lot worse considering that there's ba basically no volume and liquidity in the market right now.

I'm showing the S and 500 equal weight because that is an index that hit a record high only yesterday.

And one of the things I've been tracking here is we have a lot of markets that are just kind of breaking out or on the cusp of breaking out and we can go across the board here and I'll get to some sector action in a bit real quick.

I just want to show you the US dollar heading up again.

So that's a potential headwind for risk markets that we want to keep an eye on but not any red warning flags just yet.

Now, here's the sector action tech is leading today.

So is consumer discretionary.

Both of those outperforming energy trade to the downside.

But let me show you what's happened for the week here.

Financials, industrials materials, those are the three leaders and a lot of these sectors, including financials and industrials have been hitting record highs recently.

And so I said some of these markets are breaking out and also consolidating to break out.

This is the former, this has broken out to the upside.

That's XL and here is XL B.

This is just barely breaking out and I was actually trying to hit XL I the industrial sector that is breaking out as well.

Uh But a couple of markets I have my eye on that are about to break out.

Uh One is biotech and let me show you a five year chart so you can see what I'm talking about.

Um This hasn't quite cleared, an important resistance level, 150 is in there, but it's trying to get there.

And uh if it were to uh cross that threshold, probably heading to record highs and potentially there uh beyond, I also want to track the uh ishares usa space and defense ETF and this is something you can see.

Uh it's been a while in the making, but this is really accelerated to the upside.

I'll dial this down to a year to day chart.

So you can see that.

Uh Finally, I just want to close on the retail sector and let's see if I can find X RT there down 2% today, but this is a year to day chart.

And what strikes me is that this is just a lot of sideways action in here.

And so this is not in that list of about to break out or breaking out guys, Jared Bicker.

Thanks so much.

Appreciate it.