Stocks Thursday were lower, with the S&P 500 down 2 points to 2,172. The dollar was lower against a basket of currencies, and Treasury yields rose across the curve, most prominently at the lower end. The two-year was at 0.78 percent, and it is the most reflective of Fed rate hike expectations.
"The markets are catching their breath. It's been one heck of a post-Brexit few months. With Yellen talking and the jobs report coming up, there's a bit of a correction in the market place, but nothing extraordinary," said Krishna Memani, CIO at OppenheimerFunds.