Stocks trim losses into the close, crude oil drops

Yahoo Finance's Jared Blikre breaks down how stocks are moving into the closing bell Tuesday.

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DAVE BRIGGS: All right, we are just a few minutes away from the closing bell. Let's bring in Yahoo Finance's Jared Blikre, who is easily the most optimistic person, I hope, on this program today. Please?

JARED BLIKRE: Ooh, tall order there.

DAVE BRIGGS: Maybe? Anything?

JARED BLIKRE: I'm looking at the data. I got to talk about what I see here.

DAVE BRIGGS: All right, never mind.

JARED BLIKRE: I'm afraid we're having a down day on the first day of the year. That's a bit of an inauspicious start. By the way, we've got the Santa Claus rally still technically in effect until tomorrow close. So the Dow is up a whopping 30 basis points. If you're looking at this thing-- wow, that's some sideways choppy action we've had over the last six days-- that's what I'm thinking as well. And the NASDAQ, that's down 75 basis points today, underwater over the trailing six days.

Let's skip to some heatmaps here. Also noting the bond market had a pretty-- well, at least in yields, it had a pretty steep selloff today. Two stories of the day, Apple and Tesla. Let me just chart this real quickly. This is going to be a one-year chart of Tesla. And let me show you what's happening here. This is a wedge. We had a breakdown, a back test of the breakdown, this line right here. And we are heading down. This is a 52-week low for the most important stock in the universe.

And here's another one-- oops. Here's Meta, by the way. That's up about 3 and 1/2% today. I was going to do a different analysis with Tesla. That's what I'm looking for here. Another stock at a 52-week low, just kind of begging to probably see that $100, maybe a $99 print. That is a falling knife if I've ever seen one. But let's take a look at some of the sector action for today. And energy just really taking it on the chin. We saw WTI with a crude-- with a huge outside reversal day. XLE down 3 and 1/2%.

Communication services, we briefly looked at Meta by mistake there. That's up 1%. And kind of a mixed day here. Let's take a look at our leaders. China is just about the only thing majorly in the green. KWEB, that's the China internet ETF. That's up over 5%. To the downside, ARKK down 2 and 1/2%. We got Korean stocks, IPOs, momentum. I don't know if I can read a lot into here, but let's look at some of the boards. Here's energy. This is suffering. Kind of a big day here. ExxonMobil down 3%, Schlumberger down 3 and 1/2%, MPC down 4%, as well as ConocoPhillips.

But let's check out that China leaderboard, just so we can get a glimpse of a little bit of green before we head into the first trading bell of the new year. Baidu up 4%, Baba up 4%. This is a sector that really came alive again in December in parts and pieces, aside from a few names there. We're seeing some pretty good outperformers over that last month period.

Let's also take a look at the EV space. Outside of chess-- excuse me, outside of Tesla, also seeing some strength in some of those China names. We just took a look at those. But check out Rivian, and check out Lucid. Rivian down 6%. Lucid down 6%. And I'd be remiss if I didn't check out the crypto market heading into the very first trading bell of the new year. Guess what? Bitcoin down just marginally, down 1/2 a percent, and Ether down a similar amount. Here's that bell.