Market Update
Rapid Rise In Oil Prices and Steady Gains In Bond Yields Kept U.S. Stocks In Chec
Barry Adams
10 Sep, 2026
New York City
Stocks remained under pressure for the third session in a row on Thursday as higher bond yields kept the U.S. stock market under pressure.
The S&P 500 Index increased 0.1%, the tech-heavy Nasdaq Composite declined 0.2%, and the yield on 10-year U.S. Treasury notes advanced to a new 3-year high.
U.S. Treasury yields pushed to fresh multiyear highs after the Treasury Department revealed details of its operation to buy back up to $6 billion in longer-term debt.
The yield on the 10-year Treasury note climbed above 4.86%, tracking its highest point since late 2023.
While Treasury Secretary Scott Bessant focused on controlling the long end of bond yield, investors focused on the persistent supply of new federal government debt, which shows no sign of easing.
Fixed-income investors appeared to shrug off government efforts to lower borrowing costs, focusing instead on rapidly rising federal government debt and sticky macroeconomic trends.
Crude oil futures surged as escalating military clashes between the United States and Iran disrupted key shipping corridors near the Strait of Hormuz.
The West Texas Intermediate crude oil price increased 1.5% to $94.71, and international benchmark Brent crude crossed $102 a barrel, recording its highest settlement level since late May.
Investors are increasingly concerned that an extended energy shock will fuel broader inflation and compel central banks to maintain restrictive monetary policies for longer than previously estimated.
Higher oil prices and rising bond yields dampened sentiment in stock trading as investors worried that higher-for-longer inflation and rising interest rates could dampen broader economic growth for years to come.
August's producer price inflation is expected to increase monthly by 0.4% and 5.3% over a year as higher energy costs filter through various sectors of the economy.
The measure of wholesale inflation in July was flat on a monthly basis and increased 4.7% from a year ago.
U.S. Movers
Apple Inc. increased 1.1% to $318.81 after the mobile device maker released several new products including the debut of $2,000 foldable iPhone Duo.
American Eagle Outfitters dropped 11.8% to $16.89 after the specialty apparel retailer said comparable sales in the fiscal second quarter ending on August 1 decreased 1%.
Total net revenue increased 8% to $1.38 billion from $1.28 billion, net income jumped $133.7 million from $76.8 million, and diluted earnings per share advanced to 79 cents from 45 cents a year ago.
Comparable sales at American Eagle stores decreased 1%, and at Aerie increased 19%.
The company received $196 million in tariff refunds, and net operating income benefitted by $161 million after adjusting for a $45 million expense related to the pre-sale of tariff refunds and other items.
During the second quarter, the company returned $21 million to shareholders via a quarterly cash dividend of $0.125 per share, paid to shareholders of record as of July 10.
The company estimated fiscal third-quarter comparable sales to rise in "mid-to-high-single-digits" and operating income between $110 million and $115 million.
The teen retailer guided gross margin to remain flat from a year ago, with depreciation and amortization expenses of $55 million.
The teen apparel retailer forecast operating income in the current quarter to range between $110 million and $115 million, substantially lower than the consensus estimate of between $122 million and $124 million.
Japan's Indexes Extended Weekly Losses Amid Elevated Oil Price and Yen-Level Uncertainty
Akira Ito
10 Sep, 2026
Tokyo
Japan's indexes extended this week's losses amid heightened concerns over inflation.
The Nikkei 225 Stock Average decreased 0.7%, the broader TOPIX declined 0.2%, and the yen edged up 0.1% to 153.35 against the U.S. dollar.
The Brent crude oil price per barrel rose 0.2% to $101.04 after the U.S. and Iran exchanged military strikes over the Strait of Hormuz.
The U.S. president confirmed that the war with Iran is likely to drag at least two more months, despite repeatedly claiming otherwise over the last seven months.
Elevated crude oil prices stoked fears of higher food and transportation costs across the globe and stoked broader inflation amid heightened supply disruption concerns.
In overnight trading in New York, the S&P 500 Index decreased 0.5% and the tech-focused Nasdaq Composite declined 0.6% as the yield on 10-year Treasury notes advanced to a 3-year high of 4.81%.
Benchmark indexes in Germany fell 1.7%, in France decreased 2%, and in the U.K. declined 1.6%.
The Japanese yen strengthened to a seven-month high amid the sustained joint U.S.-Japan market intervention for the fifth consecutive week.
Higher yen generally dampens earnings of export-driven Japanese corporations, as investors awaited the Bank of Japan's rate decisions next week.
Japanese stocks were under pressure following losses in overnight trading in New York after the U.S. Treasury Department announced its plans to buy back up to $6 billion of long-term debt.
The Treasury's plan fell substantially short of market expectations, and the yield on 10-year Treasury notes advanced to over 4.84%.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.7% to 64,709.72, and the broader TOPIX fell 0.2% to 4,038.40.
Technology and consumer stocks led decliners in Tokyo's trading for the third session in a row.
Fujikura Ltd. decreased 5.2% to ¥5,203.0, Ibiden Corp. fell 4.4% to ¥20,480.0, Tokyo Electron declined 2.6% to ¥52,280.0, and Advantest Corp. gained 1.7% to ¥33,390.0.
Fast Retailing decreased 0.7% to ¥66,370.0, Seven & I Holdings eased 0.7% to ¥2,020.0, and Takashimaya Co. Ltd. edged up 0.6% to ¥2,112.50.
Japan's Indexes Extended Weekly Losses Amid Elevated Oil Price and Yen-Level Uncertainty
Akira Ito
10 Sep, 2026
Tokyo
Japan's indexes extended this week's losses amid heightened concerns over inflation.
The Nikkei 225 Stock Average decreased 0.7%, the broader TOPIX declined 0.2%, and the yen edged up 0.1% to 153.35 against the U.S. dollar.
The Brent crude oil price per barrel rose 0.2% to $101.04 after the U.S. and Iran exchanged military strikes over the Strait of Hormuz.
The U.S. president confirmed that the war with Iran is likely to drag at least two more months, despite repeatedly claiming otherwise over the last seven months.
Elevated crude oil prices stoked fears of higher food and transportation costs across the globe and stoked broader inflation amid heightened supply disruption concerns.
In overnight trading in New York, the S&P 500 Index decreased 0.5% and the tech-focused Nasdaq Composite declined 0.6% as the yield on 10-year Treasury notes advanced to a 3-year high of 4.81%.
Benchmark indexes in Germany fell 1.7%, in France decreased 2%, and in the U.K. declined 1.6%.
The Japanese yen strengthened to a seven-month high amid the sustained joint U.S.-Japan market intervention for the fifth consecutive week.
Higher yen generally dampens earnings of export-driven Japanese corporations, as investors awaited the Bank of Japan's rate decisions next week.
Japanese stocks were under pressure following losses in overnight trading in New York after the U.S. Treasury Department announced its plans to buy back up to $6 billion of long-term debt.
The Treasury's plan fell substantially short of market expectations, and the yield on 10-year Treasury notes advanced to over 4.84%.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.7% to 64,709.72, and the broader TOPIX fell 0.2% to 4,038.40.
Technology and consumer stocks led decliners in Tokyo's trading for the third session in a row.
Fujikura Ltd. decreased 5.2% to ¥5,203.0, Ibiden Corp. fell 4.4% to ¥20,480.0, Tokyo Electron declined 2.6% to ¥52,280.0, and Advantest Corp. gained 1.7% to ¥33,390.0.
Fast Retailing decreased 0.7% to ¥66,370.0, Seven & I Holdings eased 0.7% to ¥2,020.0, and Takashimaya Co. Ltd. edged up 0.6% to ¥2,112.50.
Sustained Rise In Oil Prices Stoked Fears of Elevated Inflation In China and Asia
Li Chen
10 Sep, 2026
Hong Kong
Surging oil prices across Asia fueled concerns over inflation, and benchmark indexes faced headwinds in Thursday's trading.
The Hang Seng Index decreased 1.4%, and the mainland-focused CSI 300 Index declined 0.3% as investors remained focused on rising tensions in the Middle East.
The Brent crude oil price per barrel rose 0.2% to $101.04 after the U.S. and Iran exchanged military strikes over the Strait of Hormuz.
The U.S. president confirmed that the war with Iran is likely to drag at least two more months, despite repeatedly claiming otherwise over the last seven months.
Elevated crude oil prices stoked fears of higher food and transportation costs across the globe and stoked broader inflation amid heightened supply disruption concerns.
Earlier in the week, China's statistical bureau confirmed the pickup in annual inflation in August, driven by a faster rise in food and transportation expenses.
In overnight trading in New York, the S&P 500 Index decreased 0.5% and the tech-focused Nasdaq Composite declined 0.6% as the yield on 10-year Treasury notes advanced to a 3-year high of 4.81%.
Benchmark indexes in Germany fell 1.7%, in France decreased 2%, and in the U.K. declined 1.6%.
China Indexes and Stocks
The Hang Seng Index decreased 1.4% to 24,933.44, and the mainland-focused CSI 300 Index fell 0.3% to 4,557.70.
CATL decreased 0.1% to $561.50, Zhongji Innolight declined 1.7% to $1,153.0, Eoptolink Technology edged up 0.02% to ¥414.89, and Foxconn Interconnect Technology increased 3.3% to $5.48.
Ping An Insurance declined 1.5% to HK $54.55, China Construction Bank increased 0.8% to HK $9.69, and Hong Kong Shanghai Bank Holdings plc fell 1.1% to HK $164.10.
Sustained Rise In Oil Prices Stoked Fears of Elevated Inflation In China and Asia
Li Chen
10 Sep, 2026
Hong Kong
Surging oil prices across Asia fueled concerns over inflation, and benchmark indexes faced headwinds in Thursday's trading.
The Hang Seng Index decreased 1.4%, and the mainland-focused CSI 300 Index declined 0.3% as investors remained focused on rising tensions in the Middle East.
The Brent crude oil price per barrel rose 0.2% to $101.04 after the U.S. and Iran exchanged military strikes over the Strait of Hormuz.
The U.S. president confirmed that the war with Iran is likely to drag at least two more months, despite repeatedly claiming otherwise over the last seven months.
Elevated crude oil prices stoked fears of higher food and transportation costs across the globe and stoked broader inflation amid heightened supply disruption concerns.
Earlier in the week, China's statistical bureau confirmed the pickup in annual inflation in August, driven by a faster rise in food and transportation expenses.
In overnight trading in New York, the S&P 500 Index decreased 0.5% and the tech-focused Nasdaq Composite declined 0.6% as the yield on 10-year Treasury notes advanced to a 3-year high of 4.81%.
Benchmark indexes in Germany fell 1.7%, in France decreased 2%, and in the U.K. declined 1.6%.
China Indexes and Stocks
The Hang Seng Index decreased 1.4% to 24,933.44, and the mainland-focused CSI 300 Index fell 0.3% to 4,557.70.
CATL decreased 0.1% to $561.50, Zhongji Innolight declined 1.7% to $1,153.0, Eoptolink Technology edged up 0.02% to ¥414.89, and Foxconn Interconnect Technology increased 3.3% to $5.48.
Ping An Insurance declined 1.5% to HK $54.55, China Construction Bank increased 0.8% to HK $9.69, and Hong Kong Shanghai Bank Holdings plc fell 1.1% to HK $164.10.
U.S. Stocks Faced Renewed Downward Pressure as Brent Crude Topped $100
Barry Adams
09 Sep, 2026
New York City
U.S. stocks traded lower early on Wednesday after a down day in the previous session as crude oil prices continued to climb.
The S&P 500 index increased 0.1%, and the tech-focused Nasdaq Composite decreased 0.3%, and the yield on 10-year Treasury notes advanced to 4.81%.
The action in bond yields further pressured stocks in the session.
Rapidly escalating tensions in the Middle East added to concerns over oil price-driven inflation and strengthened expectations for rate hikes in the U.S., Japan, and Europe.
The West Texas Intermediate crude oil price per barrel jumped 2.3% to $95.23, and the Brent crude price increased 2.8% to $100.68.
Gold increased 0.9% to $4,393.26 an ounce, and silver edged up 0.8% to $66.29 an ounce.
Later in the week, investors are awaiting the release of inflation reports for signals on whether the Federal Reserve may move interest rates.
U.S. Movers
Inditex S.A. declined 4.4% to €54.02 after the parent company of Zara and Pull&Bear said higher operating costs weighed on margins in its half-year results.
Sales increased 7.6% to €19.8 billion, and net income advanced 6.8% to €3.0 billion.
Gross profit in the period increased 8.3% from a year ago to €11.6 billion, and gross margin edged up 40 basis points from a year ago to 58.7%.
The company declared the fiscal 2025 final dividend of €0.875 to be paid in November 2026.
Sales at Zara-branded stores advanced to €13.8 billion from €13.2 billion, and Pull&Bear stores increased to €1.26 billion from €1.15 billion a year ago, respectively.
Total company sales in Europe (ex-Spain) accounted for 51.5% compared to 50.7%, in the Americas edged up to 17.9% from 17.8%, and in Spain inched higher to 15.6% from 15.5% a year ago.
Mission Produce decreased 5.7% to $13.61 after the avocado producer reported its financial results for the fiscal third quarter ending in July.
Net sales increased 26% to $450.0 million from $357.7 million, net income swung to a loss of $6.5 million from a profit of $14.7 million, and diluted earnings per share were a loss of 8 cents compared to an income of 21 cents a year ago.
The rise in sales in the quarter was primarily driven by an increase in avocado sales volume by 38%, partially offset by a decrease in unit price by 9%.
Net loss attributable to Mission Produce of $6.5 million, or $(0.08) per diluted share, included Calavo acquisition-related costs of $25.4 million on a pre-tax basis, compared to income of $14.7 million, or $0.21 per diluted share, for the same period a year ago.
The company completed the acquisition of Calavo Growers, Inc. on May 28 and paid $267 million in cash and issued 17.53 million of its common shares.
In the fourth quarter, the company estimated avocado sales from its farms in Peru to range between 120 million and 130 million pounds as compared to 105 million pounds a year ago.
Price per unit in the fourth quarter is likely to be lower by 10% from a year ago, driven by higher supply from U.S. and international markets.
The company reaffirmed its fiscal second-half 2026 adjusted operating earnings estimate to be between $84 million and $88 million and estimated adjusted operating earnings in the fourth quarter to range between $52 million and $55 million.
U.S. Stocks Faced Renewed Downward Pressure as Brent Crude Topped $100
Barry Adams
09 Sep, 2026
New York City
U.S. stocks traded lower early on Wednesday after a down day in the previous session as crude oil prices continued to climb.
The S&P 500 index increased 0.1%, and the tech-focused Nasdaq Composite decreased 0.3%, and the yield on 10-year Treasury notes advanced to 4.81%.
The action in bond yields further pressured stocks in the session.
Rapidly escalating tensions in the Middle East added to concerns over oil price-driven inflation and strengthened expectations for rate hikes in the U.S., Japan, and Europe.
The West Texas Intermediate crude oil price per barrel jumped 2.3% to $95.23, and the Brent crude price increased 2.8% to $100.68.
Gold increased 0.9% to $4,393.26 an ounce, and silver edged up 0.8% to $66.29 an ounce.
Later in the week, investors are awaiting the release of inflation reports for signals on whether the Federal Reserve may move interest rates.
U.S. Movers
Inditex S.A. declined 4.4% to €54.02 after the parent company of Zara and Pull&Bear said higher operating costs weighed on margins in its half-year results.
Sales increased 7.6% to €19.8 billion, and net income advanced 6.8% to €3.0 billion.
Gross profit in the period increased 8.3% from a year ago to €11.6 billion, and gross margin edged up 40 basis points from a year ago to 58.7%.
The company declared the fiscal 2025 final dividend of €0.875 to be paid in November 2026.
Sales at Zara-branded stores advanced to €13.8 billion from €13.2 billion, and Pull&Bear stores increased to €1.26 billion from €1.15 billion a year ago, respectively.
Total company sales in Europe (ex-Spain) accounted for 51.5% compared to 50.7%, in the Americas edged up to 17.9% from 17.8%, and in Spain inched higher to 15.6% from 15.5% a year ago.
Mission Produce decreased 5.7% to $13.61 after the avocado producer reported its financial results for the fiscal third quarter ending in July.
Net sales increased 26% to $450.0 million from $357.7 million, net income swung to a loss of $6.5 million from a profit of $14.7 million, and diluted earnings per share were a loss of 8 cents compared to an income of 21 cents a year ago.
The rise in sales in the quarter was primarily driven by an increase in avocado sales volume by 38%, partially offset by a decrease in unit price by 9%.
Net loss attributable to Mission Produce of $6.5 million, or $(0.08) per diluted share, included Calavo acquisition-related costs of $25.4 million on a pre-tax basis, compared to income of $14.7 million, or $0.21 per diluted share, for the same period a year ago.
The company completed the acquisition of Calavo Growers, Inc. on May 28 and paid $267 million in cash and issued 17.53 million of its common shares.
In the fourth quarter, the company estimated avocado sales from its farms in Peru to range between 120 million and 130 million pounds as compared to 105 million pounds a year ago.
Price per unit in the fourth quarter is likely to be lower by 10% from a year ago, driven by higher supply from U.S. and international markets.
The company reaffirmed its fiscal second-half 2026 adjusted operating earnings estimate to be between $84 million and $88 million and estimated adjusted operating earnings in the fourth quarter to range between $52 million and $55 million.