Market Close: Stocks Lower, Fuel Prices Surge, Inflation Data Ahead • 9/4/26

Summary

This CNBC Business News Update recaps a mixed holiday-shortened week for stocks, with a strong jobs report pushing Treasury yields higher and focus shifting to CPI and PPI inflation data. Record gasoline and diesel prices are highlighted, with diesel supported by refinery capacity shortages and geopolitical supply disruptions. Heating fuel is flagged as another pressure point heading into colder months. Economists also debate whether the August payroll strength is real or likely to be revised lower.

• Stocks fell Friday after a stronger-than-expected jobs report; Dow down 271, S&P 500 down 29, Nasdaq down 77.
• Apple fell 2.5%, leading the Dow lower; S&P 500 and Nasdaq eked out slight weekly gains.
• Two-year Treasury yield hit its highest since last year as jobs data pushed yields up.
• PPI due Thursday and CPI Friday are key inputs for the Fed rate decision.
• Regular gasoline hit a record $4.15 per gallon over Labor Day, and diesel hit an all-time high of $5.85.
• RBC's Helima Croft attributes diesel pressure to global refinery capacity shortages from Middle East and Russia/Ukraine disruptions.
• Mai Capital's Chris Croanti sees heating bills becoming shockingly high as colder weather arrives.
• Wendy Edelberg doubts August payroll strength and sees a possible downward revision.