ADP Jobs Data, Fed Beige Book, U.S.-Iran Tensions
By Jacqueline Policastro | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: Wall Street opened September lower Tuesday as renewed U.S.-Iran fighting pushed oil prices higher and a global bond selloff lifted Treasury yields.
The Dow fell 0.8%, the S&P 500 declined 0.7% and the Nasdaq dropped 1.0%. U.S. forces carried out another round of strikes against Iranian targets Tuesday, while Iran responded with missile and drone attacks in the region.
U.S. crude jumped 5.2% to settle above $90 a barrel, while Brent rose 4.6%. The 10-year Treasury yield climbed to about 4.79% as higher energy prices added to inflation and interest-rate concerns.
Job openings rose slightly to 7.27 million in July, while hiring fell to about 5.05 million. The ISM Manufacturing PMI eased to 54.6 from 55.6, while manufacturers continued to report rising costs for materials and supplies.
Today’s Focus: Labor-market data and the Fed’s Beige Book are on tap for Wednesday. ADP releases its August private-sector employment report at 8:15 a.m. ET. At 2 p.m., the Fed releases its Beige Book, giving a fresh look at prices, wages, hiring, consumer spending and economic activity across its 12 districts.
The Beige Book comes less than two weeks before the Fed’s Sept. 15-16 meeting and after Chair Kevin Warsh signaled that the central bank has more work to do if inflation does not show sufficient progress toward its 2% goal.
ON THE SCHEDULE FOR WEDNESDAY, SEPTEMBER 2, 2026
-8:15 a.m. ET – August ADP private-sector employment report
-2 p.m. ET – Federal Reserve Beige Book
-Earnings – Broadcom, Hewlett Packard Enterprise and Snowflake
-Thursday, 8:30 a.m. ET – Weekly jobless claims, revised Q2 productivity and unit labor costs
-Thursday, 10 a.m. ET – August ISM Services PMI
-Thursday earnings – Ciena, Lululemon and DocuSign
-Friday, 8:30 a.m. ET – August employment report
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