Jobless Claims, Rising Yields, Oil Prices
By Tom LoBianco | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: Wall Street pulled back Wednesday as rising bond yields weighed on stocks, a day after the S&P 500 reached a record high. The Dow fell 0.7%, while the S&P 500 and Nasdaq each declined 0.2%. Investors continued to weigh inflation pressures and concerns about government debt as borrowing costs climbed globally.
The 10-year Treasury yield rose to about 5.35% during Wednesday morning trading, near its highest level since 2002. Higher yields can increase borrowing costs for households and businesses while putting pressure on stock valuations.
Minutes released Wednesday from the Fed’s September meeting showed most officials believed another rate increase would likely be appropriate by year-end. Officials cited persistent inflation but emphasized that future decisions would depend on incoming data.
Today’s Focus: Oil prices climbed early Thursday as U.S.-Iran tensions raised concerns about supply disruptions. Brent crude rose nearly 4% to about $104 a barrel, while U.S. crude gained 3.9% to roughly $92.
PepsiCo beat its earnings estimates in its latest report before the bell, but lowered future expectations in the latest sign of strained consumer spending. The latest jobless numbers land this morning and we’ll get a look at 30-year yields after Treasury’s afternoon auction.
ON THE SCHEDULE FOR THURSDAY, OCTOBER 8, 2026
-8:30 a.m. ET – Weekly initial and continuing jobless claims
-10:30 a.m. ET – Weekly EIA natural gas storage report
-1 p.m. ET – Treasury auction of 30-year bonds
-Friday, 10 a.m. ET – Preliminary October University of Michigan consumer sentiment and inflation expectations
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