auction. ho power lunch starts right now welcome, everybody, to power lunch. what a wonderful program that was on fast money halftime. a great tribute to our servicemen and women welcome, everybody i m tyler mathisen stocks moving lower and on pace for the worst day of the month the month is young, folks. it s the second straight down day for the s&p 500 and the nasdaq, at least as of now it d be the first in five for the dow if we close on the red side oil, a big mover, down for a tenth straight day slipping further into bear market territory tech, materials, communication services, they re the worst performing sectors right now consumer staples is leading. everybody needs paper product, paper towels and that kind of stuff. movers today, activision blizzard calling yesterday yelp sinking as revenue was short of estimates dropbox moving higher. the company gave upbeat guidance let s send it to dom with a look at where we stand following this year s rally, until today.
and welcome, everybody to, power lunch. i m tyler mathisen. let s talk about stocks and they are recovering a big chunk of those titanic losses from yesterday. the dow up for the first time in four. the s&p up for the first time in seven. both are once again positive for the year ever so slightly. the nasdaq rallying the most today up more than 2.5% right now. despite those gains, the nasdaq does remain in correct territory down about 10% from its most recent high. still on track for its biggest monthly declines since november of 2008. the russell 2000 small caps and the dow transports rallying today but also they are mired in correction territory. tesla among the stocks fueling the nasdaq 100 at this hour. microsoft and intel leading the dow right now. melissa? let s get straight to what is driving the action at this hour. bob pisani is following the money from the new york stock exchange. dominic chu with the scorecard on this very busy day. julia boorstin taking a deep
ahead. tech getting wrecked one of the pillars of the record-breaking rally. are the high growth names still a good bet with rising rates plus, mortgage rates at seven year highs, material costs soaring. what do the head winds mean for housing? power lunch starts right now welcome to power lunch. stocks lower again, but well off their worst levels of the day. the dow down more than 37 poin s 370 points earlier. the nasdaq on pace for its largest weekly declines since late march and on track for its biggest monthly losses november of 2008. small caps also under pressure the russell 2000 moving in and out of correction territory. crude oil hitting its lowest level in two weeks energy, the worst performing sector today, the etf that tracks that group, the spider xle energy etf on pace for its fifth negative day out of the past six now for more action on that trading day that is playing out here, let s head to bob pisani on the floor of the new york stock exchange down t
around the rammed of rapid report forces. take a look. as the sunsets, our situation becomes more precarious. despite all the insu assurancese were given. 10:00 at night still hour and a half before our destination. every moment that we are delayed it gets more and more interest.. and delayed again. and again. and again. luckily, we manage to get in touch with a distant cousin of my father s who allows us to bed down in her new not yet furnished home. the team is exhausted. we need to get some sleep. the whole story this sunnyvale, 9 p.m. the source with kaitlan clines starts now. straight from the source, breaking news as a colorado judge resumed that drumpled can be on the ballot but he also engaged in the january 6th insurrection. now prosecutors want trump in court just three modify before the 2024 election. of course a reminder that is a trial had will be telg advised. also tonight, advertisers are fleeing fromee lon musk s x. as he is facing backlash from his anti
xhoentsz are lower although exxon is trying to hold on, intel, home depot, caterpillar, ge, they re the biggest losers, all down 3%, nearly 4% for some of them. the big news around bond yields which are rising again this morning. we re waiting for the ruflts a crucial 30-year bond auction moments away yesterday s bond auction was a market mover we ll see if today s is the same as we start to worry about just how much debt there is out there and whether or not investors are willing to buy it. check out the stocks that are bucking today s big sell-off, however. twitter is soaring after reporting its first ever profit. higher by more than 16%. grub hub and the new york times also surging. more on all three of these stocks straight ahead. tyler. thank you very much, michelle i m tyler mathisen welcome, everybody let s get right to the store of the new york stock exchange where bob pisani is standing by pl hello, bob. once again in the middle of the day this is becoming a re