Oil Tops $100, Treasury Buyback Details, Inflation Data Ahead
By Juliegrace Brufke | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: Wall Street fell Tuesday as rising oil prices added to inflation concerns ahead of key price data later this week.
The Dow dropped 1.2%, the S&P 500 fell 0.6% and the Nasdaq declined 0.3%. Brent crude briefly approached $100 a barrel as escalating fighting in the Middle East raised concerns about energy supplies. The 10-year Treasury yield ended around 4.79%.
Today’s Focus: Oil prices climbed above $100 a barrel Wednesday for the first time since July as the U.S.-Iran conflict continued to raise concerns about supplies and broader instability in the Middle East.
President Trump signed a series of proclamations Tuesday night banning imports of certain Canadian alcoholic beverages, motorcycles, whey products and molasses beginning Sept. 29. The administration also imposed additional 50% tariffs on specified Canadian goods including cheese, steel, aluminum and bamboo furniture beginning Sept. 15.
The economic calendar is relatively light Wednesday, with June Employer Costs for Employee Compensation and the second-quarter Quarterly Services Survey due at 10 a.m. ET. The Treasury is expected to announce the size of the upcoming 10- to 20-year Treasury buyback Wednesday. Treasury said last month it would at least double the maximum size of its longer-dated buybacks from $2 billion to at least $4 billion per operation.
The August Producer Price Index is due Thursday, followed by the Consumer Price Index Friday. The reports will provide the Fed with its final major inflation readings before next week’s policy decision.
ON THE SCHEDULE FOR WEDNESDAY, SEPTEMBER 9, 2026
-10 a.m. ET – June Employer Costs for Employee Compensation and second-quarter Quarterly Services Survey
-11 a.m. ET – Treasury buyback announcement
-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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