LIVE MARKETS-Rising consumer prices, oil and treasury yields send S&P 500, Nasdaq lower

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RISING CONSUMER PRICES, OIL AND TREASURY YIELDS SEND S&P 500, NASDAQ LOWER

The S&P 500 and the Nasdaq began Wednesday's session in the red as hotter-than-expected inflation data prompted growing bets of Fed rate hikes and sent US Treasury yields higher.

Rising WTI crude prices did not help matters either.

All three major US stock indexes were lower straight from the gate, with the S&P 500 .SPX and the Nasdaq .IXIC on track for their third consecutive daily losses. The blue-chip Dow .DJI broke ranks by turning green within the first few minutes of trading.

Earnings are well underway, and the results are mixed. Bank of America BAC.N missed profit estimates due to trading weakness, while Morgan Stanley MS.N and BlackRock both topped expectations.

On the sector level, gold & silver miners .XAU, big banks .SPXBK, chips .SOX and homebuilders .SPCOMHOME were the clear laggards in the opening minutes, while healthcare .SPXHC and consumer staples .SPLRCS were ahead of the pack.

In geopolitical news, Iran-backed Houthis vowed more attacks on Saudi airports and oil facilities, a move that could threaten ongoing truce talks.

Here's the lay of the land as of 9:45 a.m. ET:

(Stephen Culp)

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