It was a lackadaisical day of trading on Wall Street as many participants clearly found better things to do the day after Christmas than buy or sell stocks. The trading proof of point was in the volume, which totaled just 528 million shares at the NYSE versus 650 million shares last Tuesday and 723 million shares the Tuesday before that.
The light participation was not a surprise as this is a popular vacation day (and week). Major bourses in Europe were closed for Boxing Day, which contributed to the light volume.
The Dow and S&P 500 closed slightly negative while the Nasdaq fell 0.3%. Apple weighed on technology stocks following reports of order cuts for the iPhone X while retail and energy stocks broke out to the upside.
Futures are slightly higher after hours: S&P 500 +4 vs. 2684 fair value.
Tomorrow morning, December Consumer Confidence (Briefing.com Consensus 128 from 129.5 in November) and November Pending Home Sales (Briefing.com Consensus -0.7% M/M from +3.5% in October) will be released at 10:00.
No notable companies are expected to report earnings this week.