Stocks open higher as investors await Big Tech earnings

All three of the major indexes (^DJI,^GSPC, ^IXIC)opened higher on Tuesday, with the Dow Jones Industrial Average jumping more than 100 points. Investors are digesting a slew of earnings reports from Procter & Gamble (PG), Pfizer (PFE), and JetBlue (JBLU). After the close, Microsoft (MSFT), Advanced Micro Devices (AMD), Starbucks (SBUX), and Pinterest (PINS) are set to report.

Morning Brief anchors Seana Smith and Brad Smith along with markets reporter Jared Blikre recap the action at the open.

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

This post was written by Stephanie Mikulich.

Transcripción del vídeo

We had the opening bell just moments ago on Wall Street.

Let's take a look at how things are shaping up as we have the first minute of trading under our belt.

We've got the Dow up just around 100/100 points.

You've got the S and B up about 2/10 of a percent.

The NASDAQ also adding to gains.

And you're watching Morning brief brought to you by Invesco here.

So, Brad, when we take a look at the moment that we're seeing at the open, of course, investors are questioning whether or not some of that momentum or return here for that appetite for some of those beaten down tech socks last week, whether or not that's going to carry through on the heels of the results that we'll be getting from Microsoft here tonight after the bell And then, of course, looking ahead to Alphabet and Amazon later this week.

Yeah, big tech energy this week.

What more could you ask for here?

Maybe some good results from the other companies they're reporting.

You got a lot of consumer names that are coming out as well, so we'll see what they spell out about the state of the consumer.

We'll also get the Conference board read in later on today.

So stay tuned for that.

We've got that for you right here.

I'm just taking a look at some of the sector activity out of the gate.

Financials leading the pack, Consumer staples pulling up the caboose here.

Let's get on over to Yahoo Finance's Jared Blick Reed for a look at more of what's moving.

Hey, Jared!

Hey there, Brad.

I was just looking at the S and P 500 which is, uh, which just completed two inside days.

And what that means is it's consolidating.

It's kind of coiling for a move.

This is a 10 day look with intraday bars, and what stands out is we've simply been consolidating at the lower end of this range, and we've got a nice little pennant here.

Break to the upside.

I would expect momentum and similarly to the downside.

Just pick a direction.

Uh, let's take a look at some of the sector action and, uh, you know, for all the talk of concentration, we've seen industrials, health care and financials recently hit record highs, and it looks like they're on the move today.

Financials That would be XL F that is in the top spot up 75 basis points.

And let's take a look at the year to date.

You can see recently, uh, it did able it was able to break through this resistance area.

Use it as support, and now it's off to the races to the upside.

Not sure it's a record high today just yet, but getting pretty close energy is now in the two spot that's up 6/10 and then also real estate and industrial is looking strong here.

And besides the sector strength that I was just noting, I wanted to also call out IBB, which is a biotech ETF and also IT a and I got time for IT a here.

This is a year to date in IT a aerospace and defence that is also looks like it's at another record high today.

So, uh, lots of other areas of the market kind of coming into the fold here, and, uh, hopefully getting rid of some of those concentration arguments.

All right, Jared, we'll see whether or not it holds Jared, thanks so much for bringing that down for us.