Daily Market Snapshot: September 9, 2026

Brought to you by your local Edward Jones financial advisors. Wednesday 9/9/2026 p.m. Stocks close lower amid rising bond yields and oil prices – U.S. equity markets closed lower on Wednesday as lingering tensions in the Middle East pushed oil prices higher and weighed on investor sentiment. WTI crude ended the day above $96 per barrel, while Brent crude, the international benchmark, rose above $100 per barrel. Treasury yields also moved higher, reflecting renewed inflation concerns associated with rising oil prices and the market's reaction to the Treasury Department's announcement that it would repurchase up to $6 billion of outstanding Treasury securities with maturities of 10 to 20 years on Thursday. The 10-year Treasury yield rose to 4.84%, its highest level since the fall of 2023, while the 30-year yield finished just below 5.3%. The rise in yields following the announcement likely reflected expectations for a larger buyback operation, as well as recognition that the program is unlikely to address the structural forces contributing to higher long-term rates, including fiscal concerns and inflation uncertainty, in our view. Market leadership was narrow, with energy the only S&P 500 sector to finish higher. Geopolitical tensions remain in focus as oil prices rise – Escalating geopolitical tensions have returned to the forefront this week, weighing on equity markets and investor sentiment. On Tuesday, reports of Houthi attacks on Saudi energy facilities sent crude oil prices higher. Overnight, the U.S. reportedly struck multiple Iranian oil tankers, prompting Iran to retaliate with strikes on a U.S.-used air base in Jordan and attempted attacks against U.S. naval vessels, although no damage to U.S. warships was reported. The escalation in military activity over the past week has pushed oil prices higher, with Brent crude, the international benchmark, breaching $100 per barrel and West Texas Intermediate trading around $96 per barrel. While the path forward remains uncertain and there appears to be no clear diplomatic off-ramp, we would remind investors that making portfolio changes in response to geopolitical events has generally not served long-term investors well, historically. Despite a 9% peak-to-trough decline in the S&P 500 during the first quarter, when the conflict began, stocks have staged an impressive recovery. The S&P 500 is up more than 11% year to date, while U.S. small- and mid-cap stocks have gained more than 14%. Economic activity has also remained resilient, supported by continued job growth, an expansion in manufacturing activity, and ongoing stability in consumer spending. Lingering risks in the Middle East could continue to weigh on investor sentiment, add to near-term headline inflation, and constrain households' discretionary spending. However, resilient economic activity and robust corporate profit growth continue to underpin our constructive longer-term outlook for equity markets, with a particular preference for U.S. large- and mid-cap stocks and emerging-market equities. Fed at a crossroads – Inflation trends and their implications for monetary policy will be in focus this week, with the August producer price index (PPI) and consumer price index (CPI) reports due Thursday and Friday, respectively. We believe these readings will be especially important because they represent the final major inflation data ahead of next week's FOMC meeting. Markets are currently pricing in a roughly 60% probability of an interest-rate increase, which would mark the Fed's first hike since the summer of 2023 and a reversal in direction after policymakers lowered the federal funds target range from a peak of 5.25%–5.50% to its current range of 3.50%–3.75%. While meaningful progress has been made since headline CPI peaked above 9% in 2022, core inflation has remained above levels consistent with the Fed's 2% objective for more than five years. Lingering uncertainty in the Middle East further clouds the inflation outlook, with WTI crude oil prices rising above $95 per barrel. Meanwhile, labor-market conditions, the other side of the Fed's dual mandate, have stabilized, allowing policymakers to place greater emphasis on inflation, in our view. Although a rate hike next week is not a foregone conclusion, healthy economic and labor-market conditions, combined with inflation that remains too high for comfort, suggest policymakers may have limited tolerance for additional upside inflation surprises. Importantly, however, we expect any renewed tightening cycle to be relatively short-lived. Today's inflation environment does not appear to feature the same breadth of pressures evident during the immediate post-pandemic period, when widespread labor shortages and annual wage growth above 5% contributed to more persistent inflation. Important information: This is for informational purposes only and should not be interpreted as specific investment advice. Investors should make investment decisions based on their unique investment objectives and financial situation. While the information is believed to be accurate, it is not guaranteed and is subject to change without notice. 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