Market check: Stocks move higher, Tesla stock surges, Nvidia shares fall

Yahoo Finance's Jared Blikre looks at the market action heading into the day's final trading hour, in addition to checking out volatility levels, yield curves, and Nasdaq leaders Tesla and Nvidia.

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BRAD SMITH: Let's sprint on over to Yahoo Finance Interactive. Our own Jared Blikre is standing by with more on today's tape. Jared.

JARED BLIKRE: Thank you, Brad. And let's look at the YFi Interactive here, where we see the NASDAQ on fire yet again. Another 2% update-- excuse me-- not in the can just yet. But you can see over the last five days up 9%. Over the last six days, it's going to be over 10%. Dow not quite as much, up about 6/10 of a percent today, but I think investors will take this after the drubbing that most of us have experienced throughout most of this year.

Now, here is the VIX. We can see this is trending in the right direction. Year to date, down six sessions in a row. That is good news. Now one thing that's a little bit troubling is the yield curve. We have the entire curve, especially the belly, just screaming higher right now. This is a multiyear high. We got the five-year T-note yield at 2.38%. The 10-year very close there, 2.37%. So the five and the 10 are actually inverted. So are the two and the five. And all of that means a little bit of inversion, brings on the recession talk, but we're not at that official point just yet.

Now I want to get inside the market because the NASDAQ 100 looking very nicely. A standout is Tesla, up 8%. I'm going to turn on market cap because guess what? It's above a trillion dollars yet again. And let's take a look at the chart. Last time we were at these price levels-- and I'm going to put the candlesticks I like to look at here. The last time we were at this price level, about mid-January. And in fact, if you take a look at a one-year chart, you can see nice break of this trendline, nice break of this potential resistance area. So nice in general.

Also got to take a look at the semiconductor sector. We have Nvidia. Let me put my percentages back on there. You can see it's a little bit in the red. They have an investor day, and everything was going smoothly. But the CFO basically said they're going to spend money to make money, and investors took that to the downside. Also did $2 billion worth of share buybacks in the quarter. Also gotta check out our meme stocks. GameStop up 26%-- first time in a long time, guys.