Treasury yields sank Thursday as traders waited for a report on the job market that might renew fears of another recession in the U.S.

U.S. stocks are rising as mixed economic signals confound traders already dizzy from a week of record-setting gains and losses.

After calamitous losses on Wall Street and fears of another recession, the economy got a dose of good news Thursday: The number of people applying for unemployment benefits fell below 400,000 for the first time since April.

The number of people seeking unemployment benefits fell last week below 400,000 for the first time in four months, a sign that the job market may be improving slowly after a recent slump.

A stronger jobs report wasn't enough to calm financial markets or stem concerns that the debt crisis in Europe could threaten the fragile U.S. economy.