Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average has slipped into negative territory with UnitedHealth Group (UNH 546.50, -32.47, -5.6%) and Chevron (CVX 155.74, -3.59, -2.3%) leading the way. The other indices have faded from higher levels, but have maintained a posture in positive territory.

Strikingly, market rates have come down after the November employment report, but some of the more rate-sensitive sectors, including utilities (-1.0%), real estate (-0.2%), and financials (flat), are lagging today. 

It is another sign perhaps that the stock market, overall, is losing the energy of the momentum trade following the election. Recall that Bitcoin's move above $100,000 yesterday failed to excite the trading masses in the stock market.

Still a lot of time left in this trading session, yet buying interest has been more subdued than expected given the growing confidence in a rate cut at the December FOMC meeting.