U.S. stocks closed lower Thursday for a fourth straight session as Treasury yields climbed to multi-year highs and traders kept September Federal Reserve hike odds elevated into Friday’s consumer price index. Cash closes showed the S&P 500 at 7,591.70, down 0.58%; the Dow at 52,064.10, down 0.60%, with the open matching the session high at 52,291.85; and the Nasdaq Composite at 26,081.72, down 0.65%. The Nasdaq-100 fell about 1.08%.
The 10-year U.S. Treasury cash yield finished near 4.961% to 4.963%, its loftiest since October 2023, and the two-year near 4.58%, per Kiplinger and CNBC. CME FedWatch pointed to about a 70% to 71% chance of a September 25-basis-point hike, with Kiplinger citing 71%. Reuters said the S&P 500 is down about 2% over the four soft sessions. Friday’s CPI is the next calendar gate into the Sep. 15-16 FOMC. These are cash closes, not mid-session prints.
Sources: Kiplinger EOD; CNBC OHLC and Treasuries; Thomson Reuters via MarketScreener; CME FedWatch as cited.
