Thursday, September 10, 2026

Wall Street closed broadly lower on Thursday as surging energy prices and a hotter-than-expected inflation print rattled investor sentiment. The Dow Jones fell 0.60% to 52,064.1, the S&P 500 shed 0.58% to 7,591.7, and the tech-heavy Nasdaq slipped 0.65% to 26,081.725. Small-caps took the heaviest hit, with the Russell 2000 dropping 1.04% to 2,890.947, while rising market anxiety pushed the VIX up 13.49% to 17.84.

Sectors in focus:

• Energy & Financials: Drilling Oil & Gas Wells advanced 1.07% as WTI Crude skyrocketed 8.20% to 103.93. The spike came after Brent crude topped $108 per barrel on intensified conflict in the Iran war, including strikes in the Strait of Hormuz and Houthi rebels seizing the Yemeni port of Mocha. State (+0.68%) and National Commercial Banks (+0.52%) also climbed as the 10-year Treasury yield leaped to 4.95%.
• Metals & Housing: Metal Mining (-5.51%) and Gold and Silver Ores (-4.13%) cratered as Gold dropped 2.30% to 4,358.1. The precious metal was pressured by the rising U.S. dollar and higher yields increasing the opportunity cost of holding bullion. Residential Building Contractors (-3.72%) also slumped after August's 5.4% YoY PPI print pushed the odds of a Fed rate hike next week to 70%.
• Defensives: Hospital & Medical Service Plans posted the strongest industry performance of the day, climbing 2.00%, closely followed by Television Broadcasting Stations at +1.60%.

On the radar:

• Sep 11: August Consumer Price Index (CPI) report and Real Earnings data, which will be heavily scrutinized following today's hot PPI.
• Sep 14: Market follow-through on earnings from Adobe (ADBE) and Oracle (ORCL).
• Sep 15-16: The highly anticipated FOMC Meeting and subsequent interest rate decision.
• Sep 16: Import and Export Price Indexes.