The stock market is moving lower in the first half of today’s session.
Right now, the S&P 500 index is trading at 1833, down 0.2% from yesterday’s close. If the losses hold today, it will mark the fifth day in the last six in which the index has closed lower.
“High-beta names are getting hit sharply — seems like a “sell the news” from CES,” says Dave Lutz, head of ETF trading and strategy at Stifel Nicolaus.
Lutz points out that a lot of the momentum stocks — like Tesla, Facebook, 3D Systems, and Twitter — are now falling sharply after opening stronger.
Treasuries are also slightly lower today after yesterday’s session, in which a mix of better-than-expected economic data and hawkish minutes from the FOMC’s December meeting caused a big sell-off across the complex.