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Markets Right Now: Stocks Fade, Ending a New Year’s Rally

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11:45 a.m.

Concerns about rising interest rates are sending stocks slightly lower on Wall Street, threatening to end a six-day New Year’s rally.

Technology and health care companies posted some of the biggest losses Wednesday. Banks rose.


The S. P. 500 Index

Position of the S. P. 500 index at 1-minute intervals on Wednesday.






2,755

Previous close

2,751.29

2,750

2,745

2,740

2,735

10 a.m.

Noon

2 p.m.

4 p.m.





Source: Reuters | By The New York Times

The Standard Poor’s 500 was on pace for its first loss of 2018.

The pause for stocks came as Treasury yields continued their upward climb, and the 10-year yield traded at its highest level since March.

EBay fell 4.5 percent, and UnitedHealth Group lost 1 percent.

The SP 500 fell 4 points, or 0.2 percent, to 2,747.

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The Dow Jones industrial average lost 19 points, or 0.1 percent, to 25,366. The Nasdaq composite fell 25 points, or 0.4 percent, to 7,137.

Bond prices fell. The 10-year Treasury yield rose to 2.58 percent.

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9:35 a.m.

Stocks are opening lower on Wall Street as a New Year’s rally runs out of gas.


10-Year Treasury Notes

High yield in monthly refunding auction.






3.0

%

2.579%

2.6

2.2

1.8

1.4

’16

’17





By The New York Times

Technology and health care stocks fell the most in early trading Wednesday.

Micron Technology fell 2.3 percent and UnitedHealth Group lost 1 percent.

Domino’s Pizza dropped 3.4 percent after saying CEO Patrick Doyle will leave at the end of June after 8 years in charge.

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Banks rose as bond yields continued to climb.

The Standard Poor’s 500 fell 7 points, or 0.3 percent, to 2,743.

The Dow Jones industrial average fell 64 points, or 0.2 percent, to 25,320. The Nasdaq composite fell 26 points, or 0.4 percent, to 7,135.

Bond prices fell. The 10-year Treasury yield rose to 2.59 percent.

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Article source: https://www.nytimes.com/aponline/2018/01/10/us/ap-financial-markets-markets-right-now.html