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US Equity Markets End Lower as Crude Oil Surges, Bond Yields Rise

US Equity Markets End Lower as Crude Oil Surges, Bond Yields Rise

MT newswireMT newswire2026/09/10 20:38
04:38 PM EDT, 09/10/2026 (MT Newswires) -- US equity indexes ended lower Thursday after crude oil surged and government bond yields rose. * The Bureau of Labor Statistics' wholesale price inflation gauge, the Producer Price Index, jumped 5.4% in August from a year earlier, above the 5.3% forecast in a Bloomberg survey, and up from 4.8% in July. * Core PPI, which excludes volatile food and energy prices, climbed 4.6% from a year earlier, as expected, and up from 4.3% in July. * Initial jobless claims last week fell to 206,000 from an upwardly revised 207,000 in the previous week, compared with expectations for 205,000 in a Bloomberg poll. * Iran-aligned Houthis seized control of Yemen's port city of Mokha, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea, Reuters reported. * October West Texas Intermediate crude oil rose $6.89 to settle at $102.94 per barrel, while November Brent crude, the global benchmark, was last seen up $7.05 at $108.26. * Cooper Companies (COO) shares fell 15%, the steepest drop on the S&P 500, after the company cut its fiscal 2026 guidance. BofA Securities downgraded the stock to neutral from buy and lowered its price target to $65 from $80. * Apple (AAPL) is apparently prioritizing volume gains over margins with its lower-than-expected pricing on the new iPhones, including its first-ever foldable smartphone, Morgan Stanley said. Apple shares rose 3.6%, the top gainer on the Nasdaq.
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