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.