Stocks finished mostly flat today, as Treasury yields continued their trek higher. At last look, the 10-year Treasury yield sits at 5.15%, its highest level since summer 2007. Traders also cautiously monitoring Middle East updates, after a Reuters report indicated the U.S. and Iran could reach a deal soon to reopen the Strait of Hormuz.
The Dow shed 161 points, while the Nasdaq and S&P 500 pared steeper losses to finish flat. Elsewhere, the small-cap Russell 2000 (RUT) extended yesterday's pullback and logged its lowest close since June.
Oil Snaps Back, Gold Loses 4th-Straight
Crude oil prices continued higher Thursday after a report indicated Saudi Arabia had intercepted six ballistic missiles fired by Houthi militia. West Texas Intermediate crude gained 2.7% to settle at $94.61 per barrel.
Higher treasury yields and U.S. dollar strength pushed gold prices lower, with the precious metal extending its losing streak to four. December-dated futures dropped 0.4% to settle at $4,263 per ounce.
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