Financial Markets                      09/02 15:24

   

   Stocks rose on Wall Street as gains by big technology companies and 
relatively steady oil prices and bond yields helped boost the market after a 
downbeat start to the week.

   Nvidia rallied more than 3% Wednesday, lifting the Dow Jones Industrial 
Average 0.6%. The S&P 500 and the Nasdaq composite both gained 0.5%.

   Brent crude settled up 1% at $95.63 as the Iran conflict continued. Chevron 
edged 0.3% higher after confirming it will expand operations in Venezuela.

   The yield on the 10-year Treasury fell to 4.78% from 4.79% late Tuesday.

   THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below.

   U.S. stocks rose Wednesday on Wall Street as gains by big technology 
companies and relatively steady oil prices and bond yields helped lift the 
market after a downbeat start to the week.

   The S&P 500 index rose 0.4%, on pace to snap a three-day losing streak. The 
Dow Jones Industrial Average rose 209 points, or 0.4%, as of 2:44 p.m. Eastern 
time. The Nasdaq composite was up 0.3%.

   The market has been under pressure this week from rising oil prices and a 
bond-market sell-off. The rocky start to September follows a mostly positive 
August during which every major index notched a gain for the month.

   However, Wall Street remains gripped by anxiety over rising prices, 
government debt and the impact of global conflicts on the U.S. and the global 
economy.

   Technology and communication services stocks accounted for some of the 
strongest gains Wednesday. Chipmaker Nvidia, whose big market value tend to 
give it more influence over the broader market's direction, rose 3.3%, while 
computer memory seller Micron Technology gained 1.5%.

   Meta added 2.2% and Netflix rose 1.8%.

   Dell Technologies jumped 13% for the biggest gain among S&P 500 stocks after 
delivering strong second-quarter profits amid accelerating demand for 
artificial intelligence computing. The company also raised its fiscal year 
revenue outlook.

   Palo Alto Networks also reported quarterly results that topped Wall Street's 
expectations, citing a strong market for AI cybersecurity, but its shares fell 
10.9%.

   Meanwhile, banks and credit card issuers also helped boost the market. 
Capital One Financial rose 2.5% and American Express added 1.6%.

   Markets in Europe fell after markets in Asia closed lower.

   Oil prices held relatively steady despite the intensification in the 
six-month long U.S. war with Iran. The U.S. attacked sites in Iran over the 
weekend, ending a lull in major hostilities and Iran has since retaliated 
against sites around the Gulf region.

   The price of Brent crude, the international standard, rose 1% to settle at 
$95.63 per barrel. U.S. oil climbed 0.9% to settle at $91.01 per barrel.

   Energy stocks were mixed. Chevron edged 0.5% higher after confirming it will 
expand operations in Venezuela.

   A surge in oil prices following the start of the U.S. war with Iran fueled a 
jump in gasoline prices and global shipping costs. The conflict shut down the 
Strait of Hormuz, through which 20% of the world's oil is typically shipped.

   Higher energy costs worsened inflation that was already stubbornly high amid 
a volatile U.S. tariff war with much of the world.

   Inflation has been squeezing businesses and households at the same time that 
the mostly resilient jobs market shows signs of weakening. Payrolls processing 
firm ADP reported that private-sector employment slipped in August, according 
to its monthly survey. It is just a small snapshot, though, of the broader 
labor market and follows a government report on Tuesday that showed U.S. job 
openings rose in July.

   The big focus this week will be the government's broader employment report 
for August, which will be released Friday. The previous report for July showed 
that the jobs market stalled, with employers cutting positions.

   Both inflation and the jobs market have been key focuses for Wall Street and 
the Federal Reserve.

   "Friday's employment report, and perhaps even more importantly next week's 
inflation data, will play a significant role in determining whether 
policymakers decide to raise rates in September," said Angelo Kourkafas, senior 
global strategist, investment strategy at Edward Jones, in a research note.

   The Fed is trying to balance its task of supporting employment and taming 
inflation. Wall Street expects the central bank to raise interest rates before 
the year ends in an effort to cool inflation, which remains well above 3%. The 
Fed has a stated goal of cooling inflation to a target of 2%.

   The bond market has been selling off, which is a signal that it expects 
borrowing costs to rise.

   The yield on the 10-year Treasury, which tends to impact mortgage rates, 
rose to 4.80% from 4.79% late Tuesday. It has been rising steadily throughout 
the year and was as low as 4.20% at the beginning of 2026.

   The yield on the 2-year Treasury, which closely tracks expectations for 
Federal Reserve moves on interest rates, held steady at 4.39%. It is 
significantly higher for the year, though, and was as low as 3.50% at the 
beginning of 2026.

   Investors are also betting on a 64% chance that the Fed will raise rates at 
its upcoming meeting in September, according to CME FedWatch.

   The Fed's position is growing more complicated. Raising the benchmark 
interest rate would help cool inflation by making borrowing costs higher and 
slowing the economy. Doing so, though, could also hurt the employment market at 
a time when it is seemingly already weakening.

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