Travis Hoium

We're down 1.2% early in trading on Friday.

Yesterday was a big down day.

We're not getting earnings.

So what's on the top of mind for investors?

So I want to put some numbers to that.

The NASDAQ composite year to date is down 8.9% as we're recording.

The S&P 500 is down 6.1%.

Is that part of that energy increase?

allocation that you're talking about right the nasdaq is not going to be allocated energy whereas if you look at one of the things i like to look at recently is the heat map of the s p 500 if you do a year-to-date heat map of the s p 500 there are huge segments of the market a lot of the most popular stocks that we talk about all the time are down really big

And then you got these small little boxes like utilities, like, you know, oil producers, ExxonMobil that are up huge.

Is that what you're talking about?

Is that just that allocation has not kind of balanced out because of the weights of the index?

That has been a fascinating shift over the past 10 or 20 years.

One of the questions that I have about the market and the economy, one of the things you guys talked a lot about market dynamics.

We have not talked a lot about the economy.

And the reality is oil prices are soaring.

That's a huge expense for a lot of consumers.

Year to date, Brent crude is up 76%.

WTI, West Texas Intermediate is up 70%.

We're at $93 per barrel.