U.S. markets ended mostly lower on Thursday, as surging Treasury yields continued to weigh on equities. The 10-year Treasury yield reached its highest closing level since July 2007, amid a rise in crude oil futures and growing concerns over inflation and interest rates. Traders took note of the Commerce Department released a report showedsales of new single-family homes in the US jumped 6.4% from the previous month to a seasonally adjusted annualized rate of 684,000 in August 2026. This marked the highest level of sales since the start of the year and exceeded market expectations of 620,000, despite hawkish Federal Reserve expectations pushing mortgage rates higher during the period. Meanwhile, traders overlookeda report released by the Labor Department showing thatthe decline in Initial Jobless Claims in the United States, which decreased to 197,000 in the week ending September 19, 2026, from 198,000 in the previous week. Initial Jobless Claims in the United States averaged 359.12 thousand from 1967 to 2026, reaching an all-time high of 6,137,000 in April 2020 and a record low of 162,000 in November 1968. Investors were awaiting the University of Michigan consumer sentiment report and durable goods data due Friday, with no major earnings releases scheduled.
On the sectoral front, Biotechnology stocks rallied during the session, lifting the NYSE Arca Biotechnology Index by 1.5 percent. Pharmaceutical stocks also moved higher, with the NYSE Arca Pharmaceutical Index gaining 1 percent. Meanwhile, gold stocks remained under pressure amid a decline in the price of the precious metal. The NYSE Arca Gold Bugs Index fell 1.4 percent.
Dow Jones Industrial Average declined by 161.61 points or 0.31 percent to 51,349.98, and S&P 500 decreased by 1.9 points or 0.02 percent to 7,704.13, while Nasdaq increased by 3.33 points or 0.01 percent to 26,939.37.
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