We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Wall Street closed lower on Thursday, dragged down by surging oil prices and inflation data. Investors are pricing in that the Fed would be raising interest rates at its policy meeting next week. All of the three benchmark indexes ended firmly in the red.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) lost 316.56 points, or 0.6%, to close at 52,064.1. Twenty-three components of the 30-stock index ended in negative territory, while seven ended in positive.
The tech-heavy Nasdaq Composite fell 171.62 points, or 0.7%, to close at 26,081.73.
The S&P 500 slid 44.66 points, or 0.6%, to close at 7,591.7. Seven of the 11 broad sectors of the benchmark index closed in the red. The Materials Select Sector SPDR (XLB), the Utilities Select Sector SPDR (XLU) and the Technology Select Sector SPDR (XLK) declined 1.5%, 1% and 0.9%, respectively, while the Communication Services Select Sector SPDR (XLC) advanced 0.3%.
The fear gauge CBOE Volatility Index (VIX) increased 8.4% to 17.84. A total of 15.1 billion shares were traded on Thursday, higher than the last 20-session average of 14.9 billion. Decliners outnumbered advancers by a 2-to-1 ratio on the S&P 500.
Oil Surges Well Past $100, Weighing on Wall Street
Oil’s sharp rally weighed on Wall Street Thursday, as Brent crude surged 6.34% to $107.63 a barrel and WTI jumped 6.69% to $102.48, raising concerns over renewed inflationary pressures. Both benchmarks climbed above $100 for the first time since May.
The escalation in shipping attacks and disruptions around the Strait of Hormuz and Red Sea heightened fears of broader supply shortages. The seizure of Yemen’s Mocha port and attacks on Saudi energy infrastructure further increased uncertainty over regional energy flows.
Rising oil prices also intensified concerns that inflation could remain elevated, complicating the Federal Reserve’s policy outlook. Investors grew more cautious about interest rates, weighing the prospect of tighter monetary policy against an already fragile stock market. Per CME’s FedWatch Tool, market expectations for a Fed rate increase strengthened following the latest inflation data, with traders now pricing in a roughly 70% probability of at least a quarter-point hike next week.
Rising Treasury Yields Weigh on Wall Street
Climbing Treasury yields pressured Wall Street on Sept. 10, making government bonds increasingly competitive with equities. The 10-year Treasury yield climbed to around 4.96%, its highest level in nearly three years, while the 30-year yield reached roughly 5.37%, its highest since 2007.
Higher long-term yields raised borrowing costs and reduced the relative appeal of stocks, particularly rate-sensitive growth shares. Combined with surging oil prices and renewed inflation concerns, the bond-market selloff strengthened expectations of a more restrictive Federal Reserve policy. All eyes are now set on Friday’s Consumer Price Index numbers to gauge the direction of inflation.
Per the U.S. Bureau of Labor Statistics, the Producer Price Index (PPI) moved up 0.4% in August after the number for July was revised up to an increase of 0.1%. Core PPI for August also moved up 0.4%, after the number for July was revised up to an increase of 0.2% from the previously reported 0.1%.
The National Association of Realtors reported existing home sales for August had come in at 3.98 million units sold. The number for July remained unrevised at 4.06 million.
The U.S. Census Bureau reported wholesale inventories for July had risen 1.3%, after the increase for June was revised up to 0.4% from the previously reported 0.2%.
Per a government report, for the week ended Sept. 4, 2026, Commercial crude oil inventories (excluding the Strategic Petroleum Reserve) decreased 0.4 million bpd to 424.1 million bpd.
For the week ended Sept. 5, initial claims were 206,000, a decrease of 1,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 206,000 to 207,000. The four-week moving average was 206,000, a decrease of 1,500 from the previous week's revised average. The prior week's average was revised up by 250, from 207,250 to 207,500.
Continuing Claims for the week ended August 29 were 1,774,000, a decrease of 1,000 from the previous week's revised level. The prior week's level was revised down by 4,000 from 1,779,000 to 1,775,000. The four-week moving average was 1,779,000, a decrease of 1,750 from the previous week's revised average. The previous week's average was revised down by 1,000 from 1,781,750 to 1,780,750.
View the Zacks #1 Rank List
Image: Bigstock
Stock Market News for Sep 11, 2026
Wall Street closed lower on Thursday, dragged down by surging oil prices and inflation data. Investors are pricing in that the Fed would be raising interest rates at its policy meeting next week. All of the three benchmark indexes ended firmly in the red.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) lost 316.56 points, or 0.6%, to close at 52,064.1. Twenty-three components of the 30-stock index ended in negative territory, while seven ended in positive.
The tech-heavy Nasdaq Composite fell 171.62 points, or 0.7%, to close at 26,081.73.
The S&P 500 slid 44.66 points, or 0.6%, to close at 7,591.7. Seven of the 11 broad sectors of the benchmark index closed in the red. The Materials Select Sector SPDR (XLB), the Utilities Select Sector SPDR (XLU) and the Technology Select Sector SPDR (XLK) declined 1.5%, 1% and 0.9%, respectively, while the Communication Services Select Sector SPDR (XLC) advanced 0.3%.
The fear gauge CBOE Volatility Index (VIX) increased 8.4% to 17.84. A total of 15.1 billion shares were traded on Thursday, higher than the last 20-session average of 14.9 billion. Decliners outnumbered advancers by a 2-to-1 ratio on the S&P 500.
Oil Surges Well Past $100, Weighing on Wall Street
Oil’s sharp rally weighed on Wall Street Thursday, as Brent crude surged 6.34% to $107.63 a barrel and WTI jumped 6.69% to $102.48, raising concerns over renewed inflationary pressures. Both benchmarks climbed above $100 for the first time since May.
The escalation in shipping attacks and disruptions around the Strait of Hormuz and Red Sea heightened fears of broader supply shortages. The seizure of Yemen’s Mocha port and attacks on Saudi energy infrastructure further increased uncertainty over regional energy flows.
Rising oil prices also intensified concerns that inflation could remain elevated, complicating the Federal Reserve’s policy outlook. Investors grew more cautious about interest rates, weighing the prospect of tighter monetary policy against an already fragile stock market. Per CME’s FedWatch Tool, market expectations for a Fed rate increase strengthened following the latest inflation data, with traders now pricing in a roughly 70% probability of at least a quarter-point hike next week.
Rising Treasury Yields Weigh on Wall Street
Climbing Treasury yields pressured Wall Street on Sept. 10, making government bonds increasingly competitive with equities. The 10-year Treasury yield climbed to around 4.96%, its highest level in nearly three years, while the 30-year yield reached roughly 5.37%, its highest since 2007.
Higher long-term yields raised borrowing costs and reduced the relative appeal of stocks, particularly rate-sensitive growth shares. Combined with surging oil prices and renewed inflation concerns, the bond-market selloff strengthened expectations of a more restrictive Federal Reserve policy. All eyes are now set on Friday’s Consumer Price Index numbers to gauge the direction of inflation.
Consequently, NVIDIA Corporation (NVDA - Free Report) and International Business Machines Corporation (IBM - Free Report) lost 2.4% and 2.5%, respectively. While NVDA boasts a Zacks Rank #1 (Strong Buy), IBM carries a #3 (Hold). You can see the complete list of today's Zacks #1 Rank stocks here.
Economic Data
Per the U.S. Bureau of Labor Statistics, the Producer Price Index (PPI) moved up 0.4% in August after the number for July was revised up to an increase of 0.1%. Core PPI for August also moved up 0.4%, after the number for July was revised up to an increase of 0.2% from the previously reported 0.1%.
The National Association of Realtors reported existing home sales for August had come in at 3.98 million units sold. The number for July remained unrevised at 4.06 million.
The U.S. Census Bureau reported wholesale inventories for July had risen 1.3%, after the increase for June was revised up to 0.4% from the previously reported 0.2%.
Per a government report, for the week ended Sept. 4, 2026, Commercial crude oil inventories (excluding the Strategic Petroleum Reserve) decreased 0.4 million bpd to 424.1 million bpd.
For the week ended Sept. 5, initial claims were 206,000, a decrease of 1,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 206,000 to 207,000. The four-week moving average was 206,000, a decrease of 1,500 from the previous week's revised average. The prior week's average was revised up by 250, from 207,250 to 207,500.
Continuing Claims for the week ended August 29 were 1,774,000, a decrease of 1,000 from the previous week's revised level. The prior week's level was revised down by 4,000 from 1,779,000 to 1,775,000. The four-week moving average was 1,779,000, a decrease of 1,750 from the previous week's revised average. The previous week's average was revised down by 1,000 from 1,781,750 to 1,780,750.