Market Midday: Stocks Higher, Yardeni Calls Treasury Yields “Normal” • 9/2/26

Summary

CNBC's midday update covers a higher U.S. stock market, with the Dow, S&P 500, and Nasdaq in the green. The 10-year Treasury yield touched 4.818%, its highest since November 2023, and Ed Yardeni called global bond yields back to normal after QE. WTI crude oil rose back above $90 a barrel while Energy Secretary Chris Wright stressed record oil flows through the Strait of Hormuz. Other items include a weak ADP payrolls report, Uber layoffs, semiconductor tariff preparations, Canada trade-deal expectations, and higher mortgage rates.

• Dow up 267 points, S&P 500 up 38, Nasdaq up 100 with Nvidia up 4.5%.
• 10-year Treasury yield hit 4.818%, highest since November 2023, before pulling back.
• Ed Yardeni says global bond yields have returned to pre-GFC normal levels.
• WTI crude oil back above $90 despite record Hormuz oil flows.
• ADP private payrolls rose only 38,000 versus 53,000 estimate.
• Uber cutting over 3,000 jobs; White House preparing semiconductor tariffs.
• Howard Lutnick expects Canada trade deal after Canadian elections.
• 30-year mortgage rates near 7% at 6.89%.