The S&P 500 Index ($SPX) (SPY) Thursday closed down -0.77%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.84%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.08%.
Stocks on Thursday closed moderately lower, with the S&P 500 posting a 7-week low, the Dow Jones Industrials falling to a 1-month low, and the Nasdaq 100 dropping to a 1-1/2 month low. Rising U.S. bond yields pressured stocks Thursday after the 10-year T-note climbed to a 9-3/4 month high. Stocks had early support Thursday on signs that the U.S. economy can achieve a soft landing after weekly jobless claims fell more than expected and after the Aug Philadelphia Fed business outlook survey rose to a 16-month high.
