Source: Sharecast
The Dow finished 0.6% higher, while the S&P 500 and Nasdaq both gained 0.5% – with the latter two snapping a three-day losing streak.
Rising oil prices, owing to the latest escalation of conflict between the US and Iran, have pushed up inflation expectations in recent days, leading to a big surge in government borrowing costs in recent days.
Yields on 10-year bonds in Germany, Japan and the UK are currently at multi-decade highs, while the 10-year US Treasury yield was more or less flat after reaching an earlier high of 4.815% – its highest in nearly three years.
WTI and Brent both rose around 1% to settle at $91.01 and $95.63 a barrel, respectively, trading at levels not seen since 23 July.
However, John Williams, a voting member of the Federal Open Market Committee, said in an interview that elevated bond yields reflected a strong economy rather than inflationary risks.
"John Williams’ stance has helped to soothe nerves today," said Chris Beauchamp, chief market analyst at IG. "A soft ADP figure helped too, and now all eyes are on Friday’s payrolls to back up the view.”
The ADP report revealed that US private sector employers added 38,000 jobs in August, the weakest monthly increase since January. August's figure follows a revised 46,000 rise in July, but came in below expectations for a reading around 47,000, pointing to a broader cooling in labour‑market conditions.
In other macro news, US mortgage applications edged up 0.8% in the final week of August, partially reversing the 1% decline seen a week earlier, according to the Mortgage Bankers Association. The slight improvement came as benchmark mortgage rates were broadly steady, with the 30‑year fixed rate nudging just one basis point higher to 4.79%, despite ongoing pressure on long‑dated Treasury yields.
Meanwhile, US factory orders rose 0.9% in July, according to the Census Bureau, rebounding from a revised 0.2% decline in June and coming in ahead of forecasts for a 0.6% increase.
In equity news, Chevron gained on plans to invest more than $7bn in Venezuela over the next five years as the US oil major looks to more than double output in the country. Expanding its position in Venezuela’s Orinoco Belt, the company said new agreements included enhanced fiscal, commercial and legal terms intended to support long-term investment and project development.
Uber Technologies also rose on reports that it is set to cut about 3,300 roles, or 10% of its staff globally, in a massive restructuring aimed at reducing management layers and reallocating spending into its ride-sharing, delivery and robotaxi businesses. Chief executive officer Dara Khosrowshahi announced the changes in an email obtained by Bloomberg News
Dow Jones - Risers
Intel Corp. (INTC) $90.05 4.77%
Dow Chemical Co. (DOW) $31.28 2.69%
Apple Inc. (AAPL) $324.96 2.10%
Amgen Inc. (AMGN) $442.84 1.80%
American Express Co. (AXP) $329.98 1.79%
Caterpillar Inc. (CAT) $792.28 1.68%
Walt Disney Co. (DIS) $107.98 1.66%
Boeing Co. (BA) $208.87 1.56%
Visa Inc. (V) $378.40 1.54%
Johnson & Johnson (JNJ) $275.21 1.48%
Dow Jones - Fallers
Microsoft Corp. (MSFT) $496.82 -1.12%
3M Co. (MMM) $168.75 -0.88%
Salesforce.Com Inc. (CRM) $256.93 -0.46%
Home Depot Inc. (HD) $318.51 -0.39%
Cisco Systems Inc. (CSCO) $109.46 -0.18%
Verizon Communications Inc. (VZ) $50.22 -0.16%
McDonald's Corp. (MCD) $260.95 -0.06%
S&P 500 - Risers
FMC Corp. (FMC) $13.33 12.21%
Skyworks Solutions Inc. (SWKS) $71.67 9.73%
Kohls Corp. (KSS) $19.21 7.80%
CenturyLink Inc. (LUMN) $6.81 6.74%
Qorvo, Inc. (QRVO) $100.63 6.67%
Charter Communications Inc. (CHTR) $158.97 6.03%
Celanese Corp. (CE) $46.66 5.73%
Meta Platforms Inc. (META) $592.85 5.35%
Best Buy Co. Inc. (BBY) $87.00 5.29%
Under Armour, Inc. (UA) $5.03 4.79%
S&P 500 - Fallers
Coterra Energy Inc. (CTRA) $32.56 -8.62%
Fortinet Inc. (FTNT) $154.54 -7.43%
Cadence Design Systems Inc. (CDNS) $306.67 -6.93%
Edison International (EIX) $55.19 -6.14%
Autodesk Inc. (ADSK) $241.73 -5.17%
Omnicom Group Inc. (OMC) $81.76 -5.03%
Adobe Systems Inc. (ADBE) $279.79 -4.09%
Verisk Analytics Inc. (VRSK) $188.16 -3.63%
CH Robinson Worldwide Inc (CHRW) $145.20 -3.63%
Equity Residential (EQR) $63.66 -3.50%
Nasdaq 100 - Risers
Skyworks Solutions Inc. (SWKS) $71.67 9.73%
Charter Communications Inc. (CHTR) $158.97 6.03%
Meta Platforms Inc. (META) $592.85 5.35%
Sirius XM Holdings Inc (SIRI) $29.70 5.15%
Regeneron Pharmaceuticals Inc. (REGN) $852.03 4.78%
Intel Corp. (INTC) $90.05 4.77%
Incyte Corp. (INCY) $128.83 4.11%
Paypal Holdings Inc (PYPL) $54.67 4.03%
Nvidia Corp. (NVDA) $224.41 4.00%
QUALCOMM Inc. (QCOM) $169.96 3.91%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Cadence Design Systems Inc. (CDNS) $306.67 -6.93%
Autodesk Inc. (ADSK) $241.73 -5.17%
Adobe Systems Inc. (ADBE) $279.79 -4.09%
Verisk Analytics Inc. (VRSK) $188.16 -3.63%
Check Point Software Technologies Ltd. (CHKP) $133.89 -3.45%
Monster Beverage Corp (MNST) $44.42 -2.97%
Paychex Inc. (PAYX) $124.00 -2.91%
CSX Corp. (CSX) $48.65 -2.72%
Fastenal Co. (FAST) $47.93 -2.46%