The Dow transports edged up to an all-time high. The Russell 2000 traded slightly lower after hitting a record Wednesday.
The German 10-year bund yield briefly rose to near 0.49 percent.
“I do think there’s going to be a point when the [stock] market is going to look at rising yields,” said John Caruso, senior market strategist at RJO Futures. “There’s speculation out there the Fed is behind the curve as well.”
“At this point I don’t think the stock market wants to see a strong dollar, higher yields,” Caruso said.
In economic news, the final read on U.S. second-quarter gross domestic product showed a 3.1 percent increase. Weekly jobless claims rose slightly to 272,000.
The U.S. dollar index traded mildly lower near 93.10 after hitting its highest since Aug. 18.
— CNBC’s Jeff Cox contributed to this report.