Stocks edged lower on Wall Street Thursday morning after U.S. markets reopened for trading after the Christmas holiday. The S&P 500 slipped 0.1%. The benchmark index is coming off a three-day winning streak.

Wall Street's main indexes drifted lower in light trading volumes on Thursday, as rising yields pressured some shares, while investors looked for a year-end boost from the so-called Santa Claus rally.

Indexes fell in their first trading day after Christmas as traders hope for a so-called Santa Clause rally to propel markets higher into the new year.