U.S. stocks moved lower at midday Thursday as a sharp rise in crude oil and higher Treasury yields strengthened expectations that the Federal Reserve will raise interest rates at next week's meeting. West Texas Intermediate crude rose 5.6% to $101.43 a barrel and Brent gained 5.5% to $106.78. The 10-year Treasury yield climbed 8 basis points to 4.93%, its highest since 2023, while the 30-year yield reached 5.35%, a level last seen in May 2007. The move followed August producer-price data: headline PPI (producer-price inflation measure) increased 0.4% month over month and accelerated to 5.4% annually from a revised 4.8%, exceeding the 5.3% consensus. CME FedWatch odds of a rate hike next week rose to roughly 70% from about 62%, with August CPI due Friday morning. The S&P 500 fell 0.4%, the Dow dropped 0.5% and the Nasdaq 100 declined 0.7%. Apple rose 2.6% after the sell side supported Wednesday's foldable iPhone Duo launch. Gold fell 0.9% to $4,360 an ounce and silver tumbled 4.2%. Materials and technology sectors led declines, while communication services and consumer staples gained. Metals and mining shares weakened after copper's record intraday run reversed, while oil exploration and production stocks outperformed oil-services companies. Skyworks Solutions, AeroVironment, Reddit, Qorvo and MongoDB led Russell 1000 gainers, while Cooper Companies, Lincoln Electric, Almonty Industries, Freeport-McMoRan and Baker Hughes were among the biggest decliners. Oracle and Adobe were scheduled to report after the close.