Yahoo Finance's Jared Blikre joins Myles Udland to break down the day's price action in stocks as well as a long in Square Inc. (SQ), a Yahoo Finance Premium Investment Idea.

Video Transcript

MYLES UDLAND: All right. Welcome back to The Final Round here on Yahoo Finance. Let's go to Jared Bilkre now for a look at this market. Jared.

JARED BILKRE: Yeah, we got tech screaming back. And the S&P 500, as you alluded to before the break, within 1.25% of its record high, basically 30 points away or so. And here we have today's chart from the lower left to the upper right. And if we look at a year to date we can see those February highs, really just in sight here. We closed this gap yesterday, paused a little bit, and advancing again today.

NASDAQ set to close solidly above 11,000 for the first time. And we also have the Russell 2000, which is just at break even here. This has really been a FANG day, as we can see from this heat map. It's really been about Facebook and also Apple coming back. Facebook is up six and 1/2 percent now, Apple up over 3%, closing in on that $2 trillion mark. That magic number is $467.77. So we'll have to keep an eye out for that.

I also want to take a look at some of the other markets. The bond market has been very active lately. We've got the 10-year T-not yield back down to 54 basis points. That's a pretty remarkable low. But it hasn't been able to break below 50 basis points, except for one time, and that was very briefly during the COVID sell-off.

Also taking a look at the US Dollar Index, which has ticked to another two-year low. That's been another incredible mover that we've been watching. And then gold futures, those are up to another record high. And we'll just take a look at that briefly. Here is a year to date chart, and just acceleration here. We're also seeing that in silver futures. That is up 6%, 7% for the day, and 56.74% for the year. What a run for silver.

Now I want to take a look at the Yahoo Finance Premium Investment Idea of the Day, and that is Square. And this is based on a fundamental report by Argus Research. Their long-term target now is $188. That is an increase of 37% from current price, if it gets there.

Some of the reasoning here-- they're saying that Square had solid second quarter revenue growth. July payment volumes were stabilizing. And they're raising the price target to $188 from $80 because they expect payment volumes to begin to rebound late in the year, and they have a positive long-term view of the company's business model.

Interesting crypto note here too, because net revenues rose for the company 64%, aided by surprisingly fast growth in Bitcoin revenues from the strong adoption of Bitcoin investing. So Bitcoin powering Square, potentially to higher highs. And you can get a free copy, or a free tryout of Yahoo Finance Premium for 14 days on our website. Myles.