Meta and Netflix stocks gain, Spirit Airlines stock dips, oil falls

Yahoo Finance's Ines Ferre joins the Live show to break down how stocks are moving in midday trading.

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BRAD SMITH: And for more on the markets, let's bring in Yahoo Finance's Ines Ferre. Ines.

INES FERRE: And Brad, you mentioned volatility. I do want to mention the CBOE Volatility Index, the VIX. That is one of our trending tickers today. And just take a look at our YFi Interactive board. You can see it's just below the 34 level. Also taking a look at the 10-year Treasury note, it's up nine basis points at 2.98%. Looking at the sector action when we're talking about equities, we are seeing today that communication services, that is in the green. This is partly because of Meta and because of Netflix.

In fact, take a look. Meta or Facebook up 3 and 1/2% right now. We are also watching Netflix that is seeing some gains. In fact, I'm going to pull up the chart this way so that you can see the gainers on the NASDAQ 100. And part of these-- some of these gainers are some of the lockdown trades, actually, that have gotten very beaten up over the last month. So take a look at Zoom. It's up more than 3 and 1/2%. We're also watching a Peloton that's also higher.

I do want to mention the travel space because we have been seeing some red on the screen here. And just want to mention Southwest, which is under pressure, down about 10%. It was down about 7% earlier-- excuse me, Spirit, I mean. Spirit rejecting Jetblue's takeover bid, sticking with Frontier's merger. And that's why we're seeing pressure on Spirit right now.

Also want to mention the commodity space because we have been seeing some pressure with WTI crude down 3%, Brent crude also lower. We're watching natural gas extending its gains after a record performance in April. And we're watching gold futures, which are lower as well right now. Brad.

BRAD SMITH: Yeah, Spirit earlier saying that the proposal of the new offering wasn't that enhanced at all, so some fighting words there in the M&A space. Ines Ferre, we appreciate the breakdown there.