U.S. markets continued this week’s pattern of trading higher into the afternoon before experiencing final hour weakness to settle mixed on Thursday. Traders continue to watch the action in the 10-year note as it inches closer to a 3% yield before deciding to commit new money or bail on a possible market pullback, if triggered.
The S&P 500 climbed 0.1% after reaching an intraday peak of 2,731 before sliding below 2,700 late in the day. The index held this level for the fifth-straight session despite the final hour fade.
The Nasdaq gave back 0.1% to extend its losing streak to 4-straight sessions and its longest since November 2016. The index held the 7,200 level for the 5th-straight session following a backtest to 7,194.
The Russell 2000 also slipped 0.1% after testing 1,548 while failing its 50-day moving average for a 4th-straight session.
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