The Stock Market Is Falling Again

Sleeping on chairs at CESREUTERS/Robert GalbraithPeople relax in the Inada massage chair at the annual Consumer Electronics Show (CES) in Las Vegas, Nevada January 8, 2014.

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.

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