Traders work on the New York Stock Exchange (NYSE) floor on September 13, 2024, in New York City.
U.S. Treasury yields rose on Thursday as investors assessed fresh jobless claims data.
The yield on the 10-year Treasury added 1.1 basis point at 3.791%. The 2-year Treasury yield gained 6.1 basis points to 3.614%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
After the Federal Reserve cut interest rates by 50 basis points earlier this month, investor attention has shifted back to the state of the U.S. economy and whether a slowdown or downturn is on the horizon.
Get top local stories in Philly delivered to you every morning. Sign up for NBC Philadelphia's News Headlines newsletter.
Investors received encouraging economic data on Thursday that supported the view that the central bank's decision to cut interest rates isn't in response to a weakening economy. Weekly jobless claims pulled back more than expected for the week ending Sept. 21, indicating a still-churning labor market. Durable goods orders for August were unchanged while economists forecast a decline. The final reading of second-quarter GDP was unrevised at 3%.
Economists polled by Dow Jones expected weekly initial jobless claims to come in at 223,000 for the most recent period.
Elsewhere, the Swiss National Bank on Thursday cut its key interest rate by a quarter point, marking the third reduction this year.
Money Report
Back in the U.S., attention is also turning to key inflation data out Friday. The personal consumption expenditures price index for August is due to be released then. It is the Fed's favored inflation measure and could therefore not only provide clues about the state of the economy, but also the outlook for monetary policy.
