01:10 PM EST, 01/09/2025 (MT Newswires) -- US Treasury yields fell after midday Thursday, while crude oil futures jumped and the dollar depreciated against the Japanese yen.

Major US exchanges, including the New York Stock Exchange and Nasdaq 100, fully closed equity and options markets to observe a National Day of Mourning in honor of former US President Jimmy Carter, according to an IG market update. The bond market will operate on a shortened schedule, closing early at 2 pm ET. Forex trading remains unaffected, and US metals and energy commodities will follow regular trading schedules.

The US 10-year Treasury yield dropped 1.6 basis points to 4.68%, retreating from its highest since late April scaled earlier this week. The two-year yield fell 2.5 basis points to 4.27%.

West Texas Intermediate crude oil futures advanced 1.1% to $74.14 a barrel.

The dollar depreciated 0.2% against the Japanese yen to 158.04.

Treasury yields softened while the dollar ebbed after Philadelphia Fed President Patrick Harker and Boston Fed President Susan Collins reiterated that the central bank remains on track to cut interest rates further up ahead.

This comes as the December meeting minutes from the Federal Open Market Committee released Wednesday indicated concern over how President-Elect Donald Trump's proposed policies could impact inflation and the resulting need to show caution while easing policy, according to a D.A. Davidson note.

In economic news, the Philadelphia Federal Reserve's December manufacturing index was revised up to minus 10.9 from minus 16.4 and followed a revised minus 4.4 in November, annual data released Thursday showed. The January Philadelphia Fed manufacturing index is due Jan. 16.

Meanwhile, outplacement firm Challenger, Gray & Christmas said companies planned to cut 38,792 jobs in December, down from 57,727 in November but up from 34,817 a year ago.

In company news, the Dutch government said it is discussing with Nvidia ( NVDA ) and Advanced Micro Devices ( AMD ) setting up an artificial intelligence facility in the Netherlands.

Separately, Super Micro Computer ( SMCI ) began volume shipments of new high-performance servers equipped with Intel's ( INTC ) Xeon 6900 series processors.

This comes as the outgoing President Joe Biden's administration plans one more round of restrictions on the export of artificial intelligence chips, Bloomberg reported Wednesday, citing people familiar with the matter.

Gold futures rose 0.7% to $2,692 an ounce, and their silver counterpart jumped 1.3% to $31.11 per ounce.