Markets check: Stocks lower while bond market heads upward

Yahoo Finance's Jared Blikre breaks down Twitter's performance in the social media industry, the market action in the S&P, Treasury yields, and airline stocks.

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RACHELLE AKUFFO: Jared, what's happening?

JARED BLIKRE: That's right. We're going to get to the general market in a second, but I want to show what's happening with Twitter because Elon Musk says, well, essentially, funding secured. He has commitment letters for $46 and 1/2 billion. That is what he needed, about $25 and 1/2 billion from banks and then he's going to float another $21 billion himself or so in stock. And we can see Twitter kind of oscillating around the unchanged here, not really doing much. Over the last five days, up 2%. But that drama still unfolding.

Elon Musk has also formed holding companies, three of them, to facilitate this transaction. So there's some speculation that X holdings 1, X holdings 2, even X holdings 3, could portend some kind of deeper merger in the future, but that's just speculation right now. I want to get to the general market where we are seeing stocks on a downtrend and also bonds on an uptrend. This is the S&P 500 today. Without stealing too much thunder from Yahoo Finance's Brian Cheung, who's going to be with us in a minute, this has to do with Daly and also Powell's comments.

So we want to take a look at the bond market as well. We got the 10-year T-note yield screaming higher. I'm going to show you this. Look at this. Five-year T-note yield, 2.98%. 10-year T-note yield, 2.92%. 30-year, 2.94%. That is flat. Before we go, I want to take a quick check of the travel sector and show you what the airlines are doing. United posting a nice beat and outlook can be profitable by the second quarter. It is up 8.7%, American up 3.8%.