That said, yields have been moving steadily higher in the bond market in the past week, which could be a sign that traders are preparing for the Fed to start winding down its emergency support measures in the coming months. The yield on the 10-year Treasury note was trading at 1.36%, up from 1.34% the day before.
Investors got a small bit of good economic data on Thursday. Jobless claims edged up by 4,000 to 353,000 from a pandemic low 349,000 a week earlier, the Labor Department reported Thursday. The four-week average fell by 11,500 to 366,500. That’s the lowest since mid-March 2020.
Salesforce.com was one of the biggest gainers, rising more than 4% after the company’s quarterly results easily beat analysts’ expectations. The company also raised its full-year outlook.
Companies that report their results after Thursday’s closing bell include technology giant HP, as well as Gap.
Read More: Stock market today August 26 2021