Market Close: Stocks Higher, Yields Slip, Beige Book Highlights Data Centers • 9/2/26

Watch on YouTube ↗  |  September 02, 2026 at 21:42  |  3:54  |  CNBC
Speakers
Mike Santoli — Senior Markets Commentator
Steve Liesman — Senior Economics Reporter
Ed Yardeni — President, Yardeni Research
Chris Wright — US Energy Secretary
Jessica Ettinger — Anchor, CNBC
Danielle Smith — Premier of Alberta

Summary

CNBC Business News Update recaps a winning Wednesday for stocks, with the Dow led by Nvidia. The Fed Beige Book highlights data center-driven manufacturing and commercial construction demand. The 10-year Treasury yield touched its highest since November 2023 before pulling back, while WTI crude closed above $90 amid record Hormuz flows.

  • Dow, S&P 500, and Nasdaq closed higher; Nvidia led the Dow with a 3% gain.
  • Oil refiners Marathon Petroleum, Phillips 66, and Valero plus Johnson & Johnson and Deere hit fresh all-time highs.
  • Mike Santoli says the market is uncomfortably trendless with uncertainty over whether a broader pullback is needed.
  • Fed Beige Book shows data centers supporting manufacturing and commercial construction.
  • The 10-year Treasury yield touched 4.818%, its highest since November 2023, before pulling back; Ed Yardeni says yields have normalized.
  • WTI crude closed above $90 a barrel and record Hormuz oil flows were flagged by the energy secretary.
  • Alberta Premier Danielle Smith urged immediate US-Canada trade talks and warned no one wins a tariff war.
  • Thursday watch: earnings from Campbell, Victoria's Secret, and Lululemon, plus weekly jobless claims.
Ideas
Mike Santoli Senior Markets Commentator 0:42
Market is uncomfortably trendless.
The market is in an uncomfortably trendless state despite the rally; investors are uncertain whether a broader pullback is needed or whether weakness in consumer cyclicals and industrials was enough to clear the excess.
SPY MED
Steve Liesman Senior Economics Reporter 1:11
Data centers drive manufacturing and construction.
The Fed Beige Book shows data centers are a key economic driver: manufacturing activity picked up partly on data center demand, and commercial construction is rising while residential construction declined because of data centers.
DTCR HIGH
Ed Yardeni President, Yardeni Research 1:45
Bond yields have normalized.
Global bond yields have returned to pre-Great Financial Crisis levels and are back to normal; the abnormal period was central banks suppressing short- and long-term interest rates with quantitative easing between the GFC and COVID crisis, so today's rates may be normalized.
U.S. 10-year Treasury yield HIGH
Chris Wright US Energy Secretary 2:25
Hormuz oil flow risks are rising.
Record oil volumes moved through the Strait of Hormuz since the Iran conflict began, with Iran actively challenging those flows, and diesel is near record levels—an oil supply chokepoint risk setup.
WTI DIESEL MED
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This CNBC video, published September 02, 2026, features Mike Santoli, Steve Liesman, Ed Yardeni, Chris Wright discussing SPY, DTCR, U.S. 10-year Treasury yield, WTI, DIESEL. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Mike Santoli, Steve Liesman, Ed Yardeni, Chris Wright  · Tickers: SPY, DTCR, U.S. 10-year Treasury yield, WTI, DIESEL