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Rich Asplund

Stocks Settle Lower as Bond Yields Rise on Hawkish Fed Comments

Donald Trump SP United States Dow Jones Industrials Nasdaq Beth Hammack Jeffrey Schmid Lisa Cook International Paper Kansas City Fed

The S&P 500 Index ($SPX) (SPY) on Thursday closed down by -0.40%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down by -0.34%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -0.46%.  September E-mini S&P futures (ESU25) fell -0.40%, and September E-mini Nasdaq futures (NQU25) fell -0.45%. 

Stock indexes settled lower on Thursday, with the Dow Jones Industrials falling to a 1-week low.  Concerns about consumer spending weighed on stocks after Walmart reported weaker-than-expected Q2 EPS.  Also, higher bond yields undercut stocks, with the 10-year T-note yield climbing +4 bp to 4.33% on hawkish Fed comments and stronger-than-expected manufacturing and existing home sales reports. 

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