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U.S. STOCKS DIP IN EARLY TRADE
Wall Street's main indexes are modestly lower early on Thursday in light trading after the Christmas holiday, as investors take stock of their portfolios and look for a year-end boost from the so-called Santa Claus rally.
Most S&P 500 .SPX sectors are red though no group is down more than 0.5%. Consumer discretionary .SPLRCD and tech .SPLRCT are taking the biggest hits. Healthcare .SPXHC, energy .SPNY and materials .SPLRCM are roughly flat to slightly green.
Under the surface, gold stocks .HUI are rallying, while regional banks .KRX are an underperformer.
Traders continue to eye the U.S. 10-year Treasury yield US10YT=RR as it has hit its highest level since early May.
Here is an early market snapshot:
(Terence Gabriel)
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(Terence Gabriel is a Reuters market analyst. The views expressed are his own)