Oil Prices, Canada Tariffs, Inflation Data Ahead
By Tom LoBianco | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: Wall Street ended Friday lower after a stronger-than-expected August jobs report increased expectations that the Federal Reserve could raise interest rates at its meeting next week.
The Dow fell 0.5%, the S&P 500 declined 0.4% and the Nasdaq dropped 0.3%. Treasury yields rose as investors reassessed the outlook for Fed policy. Markets were closed Monday for Labor Day.
U.S. employers added 162,000 jobs in August, well above expectations, while the unemployment rate held at 4.1%. June and July payroll figures were also revised higher by a combined 55,000 jobs.
Today’s Focus: Oil prices are climbing again Tuesday as fighting in the Middle East raises concerns about energy supplies. Brent crude approached $100 a barrel and U.S. crude rose above $94.
Canada’s retaliatory tariffs on U.S. goods took effect Tuesday. The measures cover about $20 billion in U.S. imports, with tariffs ranging from 15% to 50% on products including steel, dairy, appliances, agricultural equipment and electronics. Canada announced the measures in response to U.S. tariffs on Canadian goods that took effect last month.
Attention shifts to inflation later this week, with the August Producer Price Index due Thursday and the Consumer Price Index Friday. Both reports will provide the Fed with fresh inflation readings just days before its Sept. 15-16 policy meeting.
ON THE SCHEDULE FOR THE WEEK OF TUESDAY, SEPTEMBER 8, 2026
-8:15 a.m. ET – ADP preliminary private-sector employment estimate
-1 p.m. ET – Treasury 3-year note auction
-3 p.m. ET – Federal Reserve July consumer credit report
-Wednesday, 10 a.m. ET – June Employer Costs for Employee Compensation and second-quarter Quarterly Services Survey
-Wednesday, 1 p.m. ET – Treasury 10-year note auction
-Thursday, 8:30 a.m. ET – August Producer Price Index and weekly jobless claims
-Thursday, 10 a.m. ET – August existing home sales
-Thursday, 12 p.m. ET – EIA weekly petroleum status report
-Thursday, 1 p.m. ET – Treasury 30-year bond auction
-Thursday earnings – Oracle and Adobe
-Friday, 8:30 a.m. ET – August Consumer Price Index and real earnings
-Friday, 10 a.m. ET – Preliminary September University of Michigan Consumer Sentiment Index
-Friday, 2 p.m. ET – August Treasury budget statement
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