US stock market news: U.S. stocks closed little changed on Thursday after a choppy trading session, as investors weighed another rise in Treasury yields with the latest batch of economic data and earnings. The benchmark U.S. 10-year Treasury yield rose as high as 4.198 per cent during the session, the highest since November, extending its climb from a day earlier following Fitch's downgrade of the top-tier U.S. credit rating. In late afternoon trade, the 10-year yield had dipped below 4.194. “It’s really relative to just pricing against bond yields”, said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management in Minneapolis. “Higher yield on 10-year treasuries, … has challenged the attractiveness of stocks.”

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A Labor Department report showed the number of Americans filing new claims for unemployment benefits increased slightly last week, while layoffs dropped to an 11-month low in July as labor market conditions remain tight. Investors were waiting for July's jobs report, due on Friday.

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