The S&P 500 Index ($SPX) (SPY) today is down -0.33%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.28%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.42%.  March E-mini S&P futures (ESH25) are down -0.42%, and March E-mini Nasdaq futures (NQH25) are down -0.53%. 

Stocks today are under pressure as trading resumes after the Christmas holiday in the US, although major markets in Europe and the UK remain closed for the Christmas and Boxing Day holidays.  Higher bond yields are weighing on stocks due to supply pressures as the Treasury will auction $44 billion of 7-year T-notes later this afternoon. Stocks remained lower after the 10-year T-note yield rose to a 7-month high of 4.639% when US weekly initial unemployment claims unexpectedly fell to a 1-month low.

Strength in Asian equity markets is supportive of US stocks. Chinese stocks closed slightly higher today on the outlook for additional stimulus as China may sell a record 3 trillion yuan ($411 billion)... Read more