Stocks Fade, Ending a New Year's Rally

A stellar start for the New Year on Wall Street has faded as the market posted its first loss of the year on Wednesday, the AP reports. The slight declines came after six straight gains for the Standard & Poor's 500 index, its longest winning streak to open a year since 2010. The losses were steeper in the morning, when the yield on the 10-year Treasury approached 2.6%. The rise in rates moderated as the day progressed. High-dividend stocks like real estate companies, utilities, and makers of consumer products fell. Campbell Soup fell 3.1%.

The S&P 500 fell 3 points, or 0.1%, to 2,748. The Dow Jones industrial average lost 16 points, or 0.1%, to 25,369. The Nasdaq composite fell 10 points, or 0.1%, to 7,153.

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