Market Midday: Stocks Higher Before Expected Rate Hike, Builder Sentiment Falls • 9/16/26

Summary

CNBC midday update: stocks are higher before a widely expected Fed rate hike, with Dan Greenhouse arguing the Fed should wait. The 10-year Treasury yield is near 5% and mortgage rates hit 7.22%, while homebuilder sentiment fell. Retail sales rose, but oil, gasoline, and diesel prices remain elevated; Canada was invited to become an EU associate member.

• Wall Street trades higher ahead of an expected Fed rate hike.
• Dan Greenhouse says the Fed should not hike now, citing war, AI investment cycle, and tariffs.
• 10-year Treasury yield hovers near 5%, the highest since 2007, and 30-year mortgage rate is 7.22%.
• Homebuilder sentiment falls on high mortgage rates, labor shortages, and material costs.
• August retail sales rise 1.3%, though not adjusted for 3.4% inflation.
• US crude oil is around $102; gasoline is $4.37 and diesel hits a record $6.31.
• Canada receives an invitation to become an EU associate member amid US trade tensions.