CBN News, October 9, 2026, 07:37:52 - Listen to the news

Author: Fan Zhijing Editor-in-Chief: Sheng Yuan

*The three major U.S. stock indices showed mixed movements, with the Dow Jones rising slightly by 0.1%;*

*The yields on medium- and long-term U.S. Treasuries have fallen, with the 10-year Treasury yield at 5.22%;*

PepsiCo rose nearly 4%, and the company announced that it will pursue more cost-cutting measures.

On Thursday, U.S. stocks saw mixed movements. By the close of trading, the Dow Jones Industrial Average rose by 51.77 points, or 0.1%, to 51,231.64 points. The Nasdaq Index fell by 1.25% to 27,193.34 points; the S&P 500 Index declined by 0.47% to 7,765.36 points.

Market Overview

According to reports from CCTV News, U.S. President Donald Trump posted on social media on the 8th that the United States is engaged in "fruitful" negotiations with Iran, and that the U.S. will not launch an attack on Iran before the mid-term elections in Congress. Trump stated in his post that despite Iran's "very poor" economic and military situation, and despite the continued sanctions imposed by the U.S. as well as the large amount of oil being transported through the Strait of Hormuz, "at no time before the mid-term elections on November 3rd in the United States, will we launch an attack on Iran."

The market is also closely monitoring the yield trends of U.S. Treasury bonds. This week, the yields on 10-year and 30-year U.S. Treasury bonds both reached new highs in 24 years. At the close of trading, the yield on the benchmark 10-year Treasury bond fell by 5 basis points to 5.227%, while the yield on the 30-year Treasury bond fell by 6 basis points to 5.601%. Data indicates that demand for the 30-year U.S. Treasury bond auction was stable.

Baird Investment strategist Ross Mayfield stated: "In the end, energy-driven inflationary pressures have changed the policy orientation of the Federal Reserve and have also significantly affected long-term U.S. Treasury yields. If the United States and Iran reach a solid agreement tomorrow to ease tensions in the Middle East, U.S. Treasury yields will decline significantly."

Federal Reserve Board member Christopher Waller confirmed that there is a high likelihood of further interest rate hikes in the future, but there is "flexibility" regarding the timing of these hikes. According to the CME Federal Reserve monitoring tool ( FedWatch ), current market expectations are that the Federal Reserve will maintain interest rates unchanged this month, with a 69.2% probability of a hike in December.

Recently, U.S. Treasury yields and oil prices have caused fluctuations in the stock market. There are concerns that high oil prices will drive up inflation, forcing the Federal Reserve to continue raising interest rates.

Meifeld stated that despite the S&P 500 index and NASDAQ hitting new record highs this week, the stock market has shown "quite resilience" in the face of multiple pressures; however, he believes that a slight further increase in long-term yields will pose a significant headwind for stocks, and he expects U.S. Treasury yields to stabilize in the 5%-6% range. "The market is adapting to the new yield levels. High yields largely reflect a strengthening nominal economy and a slight rise in inflation. Unless there is a severe recession that forces the Federal Reserve to cut interest rates to zero, this environment of 'higher interest rates lasting longer' is likely to continue," he said.

Individual Stock Performance

The Philadelphia Semiconductor Index fell by more than 3.3%. Reports indicate that OpenAI's annual revenue is $20 billion less than the company's previous guidance. Broadcom is arranging $50 billion in financing for OpenAI, and Oracle also plans to seek an undisclosed amount of funds. These news sparked concerns in the market that large-scale debt issuance by tech companies will intensify the competition for capital. Broadcom and Oracle's stock prices fell by 4.4% and 5.5%, respectively.

The storage chip sector weakened, and Samsung Electronics released a record quarterly profit forecast, but this failed to boost market sentiment. SanDisk, SK Hynix, and Micron Technology all fell by more than 4%.

The optical communication sector performed poorly, with Coherent falling nearly 10%, and Lumentum dropping by more than 6%.

Star tech stocks generally fell, with only Apple rising by 1.11%, while Amazon and NVIDIA dropped by more than 2%.

PepsiCo rose by 3.7%, and the company stated that it will pursue more cost-cutting measures, while also lowering its full-year core profit guidance.

Goldman Sachs raised its rating of data analysis software vendor Palantir from "neutral" to "buy," causing Palantir to rise by 2.4%.

The NASDAQ China Golden Dragon Index fell by 0.62%, while Alibaba and Baidu both lost more than 1%.

Large-cap performance

Due to concerns about the impact of the Middle East situation on oil production, crude oil prices saw their largest increase in a month on Thursday. The WTI crude oil futures for November delivery rose by 3.6%, with a settlement price of $91.49 per barrel. December Brent crude oil futures rose by 4.1%, closing at $104.28 per barrel.

Gold rebounded from its two-month low, with the COMEX gold futures for October delivery on the New York Mercantile Exchange rising 0.44% to $4,131.80 per ounce.

Article Author

Fears about U.S. debt rise again! The Dow Jones fell by more than 300 points, chip stocks and optical communications sectors weakened under pressure, and crude oil prices tumbled at the end of trading.

10-year U.S. Treasury bonds hit a 24-year high during trading.

U.S. Treasuries under pressure, Dow Jones falls by over 300 points; chip stocks and telecom sectors bear the brunt, SanDisk leads the decline; Brent oil rebounds by over 3%, gold and silver decline

The market is betting that the Federal Reserve will raise interest rates consecutively.

Dow Jones experiences its worst week of the half-year! Chip stocks surge at the close, with Sandisk jumping nearly 11%, while crude oil plummets and gold and silver rebound.

Chinese concept stocks shine, Alibaba surges by over 4%.

Crude oil prices soared by 3%, hitting European and American markets hard; the Dow Jones index fell by over 400 points. Apple's first foldable phone iPhone Duo was unveiled.

Meta launches its first personal avatar, and the stock price soars.

U.S. Treasury yields rise! U.S. stocks, gold, and silver plummet; chip stocks and optical communications sectors see a surge, with SanDisk rising nearly 12%, while Tesla tumbles nearly 6%

Chinese concept stocks rose against the trend.