Negative open for the market
The major indices are off to negative starts. The S&P 500 is down 0.4%, the Nasdaq Composite is down 0.8%, and the Dow Jones Industrial Average is down 0.3%. Looking at the S&P 500 sectors shows consumer discretionary (-1.2%) leading the decline amid weakness in Tesla (TSLA 1074.44, -34.64, -3.0%) and retail stocks. The energy (+0.5%) and real estate (+0.2%) sectors are the only groups trading higher. In the Treasury market, the 10-yr yield is up two basis points to 1.69%, and the 2-yr yield is up two basis points to 0.63%. The U.S. Dollar Index is up 0.4% to 96.88. WTI crude is down 0.1% to $78.46/bbl.