The holiday-shortened trading day was marked by a significant sell-off in the final hour of trading that left the S&P 500 0.49% lower on the day. Information Technology found its way to the bottom of the sectors, losing 1.37% while the otherwise lackluster Telecommunication Services sector charged ahead, gaining 1.16% on the day. Small company stocks rallied in late trading, finishing 0.97% higher. The yield curve flattened with the one-month Treasury rising 15.5 basis points (0.155%) since last Friday. This is definitely a development to watch, should it continue. Long-term rates fluttered lower, but minimally, causing the spread between long-term and short-term rates to narrow, a continuation of a trend developing over the past few months.