The S&P is down marginally led by loses in the utilities, energy, and telecom sectors. Oil is down in the area of -0.1% to -2.0%. Interest rates are on the rise today. The 10-year treasury is up 7 bps to 2.01%. This is likely one reason for weakness in utilities and telecom. Utilities are really getting hammered down -2.4%.
Greek negotiations are in the headlines again. The greek stocks are down -4.0%, but today reaction by the S&P is fairly muted. The S&P has traded in an extremely tight range today of -0.4% to flat.
Michael Grove, CFA