The Markets (as of market close October 9, 2026)
Wall Street experienced a more volatile week as stock traders weighed rising Treasury yields and inflation against signs of a cooling labor market. Major indexes finished mixed despite a Friday rally that helped recover some earlier losses. The NASDAQ gained for the week, while the S&P 500 declined slightly and the Dow fell a bit. Small-cap stocks also edged lower.
Technology and artificial intelligence-related shares once again provided much of the market’s strength, while more interest-rate-sensitive areas struggled. Information technology, energy, utilities, and industrials were the only major sectors to finish the week higher, while real estate, health care, and financials posted some of the largest declines.
Treasury yields continued to move higher, with the 10-year Treasury yield rising 10 basis points to 5.28%. Stock market watchers continued to assess whether signs of a softer labor market could reduce the likelihood of additional Federal Reserve rate increases. Crude oil prices declined to $91.53 per barrel after G7 nations announced plans to release crude oil and diesel reserves in an effort to ease elevated fuel prices.
Last Week’s Economic News
- The September employment report pointed to continued cooling in the labor market.
- Economic growth remained positive during the second quarter.
- Consumer spending remained strong in August.
- Additional labor-market data also showed signs of moderation.
- Manufacturing activity strengthened in September.
- The U.S. goods trade deficit widened in August as imports grew faster than exports.
- Gasoline prices remained elevated but declined slightly on a national basis.
Eye on the Week Ahead
The economic calendar is relatively light this week, placing greater attention on the Federal Reserve. Minutes from the Fed’s most recent policy meeting are scheduled for release on Wednesday.
Stock market watchers will be looking closely for clues about whether Federal Reserve officials remain open to additional rate increases or believe current policy is restrictive enough to bring inflation under control.
Have a nice week!
Sincerely,
Robert G. Carpenter