Higher interest rates in the bond market are becoming a concern for the stock market, with the S&P 500 trading lower, a day after snapping six straight days of gains, according to

Navellier & Associates. “Interest rates are moving in the wrong direction despite the clear current trend of low inflation along with low unemployment,” said Louis Navellier, chief

investment officer of Navellier & Associates, in a note emailed Wednesday. As an example of higher rates, he pointed to the yield on the 10-year Treasury note climbing to slightly more

than 4.5%. The U.S. stock market was trading mostly lower Wednesday afternoon, with the S&P 500 down 0.1%, FactSet data show, at last check.