Stocks are slightly lower Thursday after a 2nd losing day for markets. All 3 major averages were down at least 0.5% yesterday after traders assessed the release of the latest FOMC minutes. The minutes showed that the Fed believes that additional tightening could be needed.

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For economic data today, initial jobless claims fell to 239,000, just below expectations of 240,000. Initial claims were at 250,000 last week. Continuing claims were higher at 1.72 million.

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Treasury yields are steeper, with the 2-year T yield up 0.5 basis points to 4.98%, the 5-year T yield up 5.0 basis points to 4.46%, and the 10-year T yield up 6.2 basis points to 4.32%, the highest level since November 2007! Increasing yields reflect an increasing chance of a hike at the next Fed meeting, even though that chance is only 13.5% per the CME FedWatch Tool.

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Lastly, the Games N Gains twitch stream is tonight, but it will start later than normal on account of a work event I have this evening.

Link is below.