(CNBC) U.S. stocks closed lower Thursday, amid a pullback in oil prices from multi-month highs and a decline in global benchmark yields.
"I think we're back to trading crude oil with a lack of other things to trade," said JJ Kinahan, chief strategist at TD Ameritrade.
U.S. crude oil futures settled down 67 cents, or 1.31 percent, at $50.56 a barrel, after closing above $51 at its highest since July on Wednesday.
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"Oil stabilizing around $50 is really good for the markets. ... That helps stabilize emerging markets and is maybe a commentary on growth that recently demand is picking up," said Jeff Kravetz of the Private Client Reserve at U.S. Bank.