Major U.S. indexes gain; chips, small caps, banks outperform Energy leads S&P sector gainers; healthcare weakest group Euro STOXX 600 index gains ~1.4% Dollar ~flat; gold, crude, bitcoin rally U.S. 10-Year Treasury yield rises to ~1.47% Dec 21 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com S&P 500 POPS EARLY, BUT 50-DMA SAYS "NOT SO FAST!" (0955 EST/1455 GMT) Wall Street"s main indexes are gaining early Tuesday as strong quarterly earnings from Nike (NKE.N) and a positive forecast from chipmaker Micron (MU.O) helped boost sentiment. Not surprisingly, given MU"s forecast, chip stocks are among outperformers. The Philadelphia SE Semiconductor index (.SOX) is rallying nearly 1.2%. And with the U.S. 10-Year Treasury yield , now around 1.47%, and up more than 10 basis points from Monday"s 1.3530% low, banks (.SPXBK) are posting strong gains and value (.IVX) plays are outperforming growth (.IGX). With this, the major averages are trying to end three-day losing streaks. However, of note, they are already pulling back off their highs. The S&P 500 (.SPX) hit a high of 4,614.20 early on, that saw it flirt with its 50-day moving average, around 4,613. However, the benchmark index has since sold back. Here is where markets stand in early trade: earlytrade12212021 earlytrade12212021 (Terence Gabriel) ***** MARKET INTERNAL MEASURES: BATTLE RAGES ON (0900 EST/1400 GMT) A couple of measures of Nasdaq and NYSE internal strength are throwing off conflicting signals. The Nasdaq Composite (.IXIC) closed Monday at its lowest level in more than two months. With this, the Nasdaq McClellan Summation (McSum), a breadth/momentum measure based on advancing and declining issues, ended at -5,084, or a fresh low back to early-April 2020. read more Against this, the Nasdaq New High/New Low (NH/NL) index, a measure built around new yearly highs and lows, was unchanged on Monday at 24.1% read more : IXIC12212021 IXIC12212021 Of note, the Nasdaq NH/NL index bottomed at 12.5% on December 6, and then reclaimed its 10-day moving average (DMA) on December 10. This short-term moving average has now turned up, and the measure itself is showing a bullish convergence with the IXIC. In any event, traders will be watching for these measures to sync-up together. That is, for the McSum to begin to rise with the NH/NL index, and reclaim its 10-DMA, or for the NH/NL index to resume a decline, in-gear with the McSum. With this, there may be greater confidence in the Nasdaq"s next major move. Meanwhile, readings on the NYSE are showing a similar picture. On Monday, the NYSE McSum ended at its lowest level since April 2020. However, the NYSE NH/NL index, which also bottomed on December 6, and is also above its rising 10-DMA. And, the NYSE measure did tick down Monday for the first time in 10 sessions. This as the NYSE Composite (.NYA) closed below its 200-DMA. read more (Terence Gabriel) ***** FOR TUESDAY"S LIVE MARKETS" POSTS PRIOR TO 0900 EST/1400 GMT - CLICK HERE: read more Terence Gabriel is a Reuters market analyst. The views expressed are his own