Yes, the sort option are down the bottom of the list for both the topic lists and the threads themselves. You can sort by Author, post time, subject, replies or views. The default is "post time" which is actually the last post time. You can also limit the results and change the sort order.
As a side note there is options for this in the control panel to change the default so you can customize it, you could change it to limit it to one day and all you 'll get is the new topic and posts for the last 24 hours.