Nasdaq is the early underperformer in negative open
The major indices open lower, with the Nasdaq Composite underperforming with a 1.1% decline amid relative weakness in the mega-cap/growth/technology stocks. The S&P 500 is down 0.5%, and the Dow Jones Industrial Average is down 0.2%. Looking at the S&P 500 sectors shows information technology (-1.1%), consumer discretionary (-0.8%), and communication services (-0.6%) leading the decline and are underperforming for the second straight day. Conversely, the energy (+0.3%), consumer staples (+0.1%), and real estate (+0.2%) sectors trade slightly higher. Longer-dated Treasuries have edged higher, pushing yields lower. The 10-yr yield is down two basis points to 1.59%, while the 2-yr yield is up one basis point to 0.16%. The U.S. Dollar Index is up 0.3% to 91.26. WTI crude futures are up 1.6% to $65.53/bbl.