Treasury Yields Jump, Oil Rebounds, Trump Hosts Xi
By Tom LoBianco | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: U.S. stocks fell Wednesday as stronger economic data, higher oil prices and rising Treasury yields renewed inflation concerns. The Nasdaq dropped 1.1%, the S&P 500 fell 0.8% and the Dow declined 0.7%. The 10-year Treasury yield climbed to about 5.10%, its highest since July 2007. Yields rose after stronger-than-expected business activity data, then moved higher again following weak demand at a five-year note auction.
U.S. business activity ticked up in September, with S&P Global’s flash composite index rising to 58.4 from 56.0 in August, its highest since July 2021. Businesses reported their sharpest increase in costs in nearly four years, which could translate into higher prices for consumers.
Oil prices rose as U.S.-Iran tensions renewed concerns about Middle East supplies, with Brent settling above $103 a barrel. The increase came despite government data showing U.S. crude inventories rose by 3 million barrels last week.
Today’s Focus: President Trump hosts Chinese President Xi Jinping at the White House today for talks expected to cover trade, rare-earth supplies, artificial intelligence, Taiwan and the Middle East. Markets will watch for details on the countries’ trade truce after Treasury Secretary Scott Bessent said Wednesday that the two sides had agreed to extend it until Jan. 10.
Stock futures pointed lower Thursday morning as oil extended its rebound. Weekly jobless claims are due at 8:30 a.m. ET, followed by August new-home sales at 10 a.m. ET.
ON THE SCHEDULE FOR THURSDAY, SEPTEMBER 24, 2026
-8:30 a.m. ET – Weekly jobless claims
-10 a.m. ET – August new-home sales
-Beginning at 10 a.m. ET – President Trump hosts Chinese President Xi Jinping at the White House, with public remarks at 10:15 a.m., bilateral meetings beginning at 11:30 a.m. and a state dinner at 8:10 p.m.
-1 p.m. ET – Treasury 7-year note auction
-Friday, 8:30 a.m. ET – August durable-goods orders
-Friday, 10 a.m. ET – Final September University of Michigan consumer-sentiment index
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