The 10-year U.S. Treasury yield rose above 3% earlier this week for the first time since early 2014. The news initially sent a chill through U.S. markets, stoking concerns over higher borrowing rates for companies already facing rising costs—and as early quarterly results in the industrials sector failed to deliver positive outlooks. U.S. stocks climbed higher on Thursday, however, after a strong round of corporate earnings reports, led by the technology sector. Also in the U.S., initial jobless claims, a measure of layoffs across the U.S., fell to their lowest levels since December 1969. The tightening job market increases the odds that the Fed will be considering additional rates hikes in 2018.