Morning BriefNo. 1
10-year yield climbs to 4.80%, highest since October 2023; stocks fall, led by the Dow
In Tuesday's session, the Nasdaq Composite lost 0.3%, gold settled at $4,439.00 an ounce, and WTI crude rose to $93.03 a barrel.
This archive edition was compiled from official historical data on September 23, 2026, when Diurna began publishing.
- S&P 5007,673.52▼ −0.58%
- Nasdaq26,421.41▼ −0.32%
- Dow52,786.07▼ −1.18%
- 10-yr yield4.80%▲ +2 bp
- EUR/USD$1.1614▼ −0.07%
- Gold$4,439.00▼ −0.84%
- WTI crude$93.03▲ +1.69%
- Bitcoin$78,549▼ −0.66%
Stocks
The broad S&P 500 retreated 0.58% to 7,673.52. The tech-heavy Nasdaq Composite declined 0.32%, and the Dow Jones Industrial Average dropped 1.18% to 52,786.07.
The S&P 500 has gained 12.1% so far in 2026 and stands 1.6% below its record close of 7,798.99, set on August 13, 2026. The Cboe Volatility Index, which tracks expected swings in the S&P 500 over the next 30 days, rallied to 15.72, below its long-run average of about 19.4.
Rates
The 10-year Treasury yield inched higher 2 basis points to 4.80%, its highest level since October 2023. The 2-year yield, which is more sensitive to expectations for Federal Reserve policy, edged up 2 basis points to 4.39%.
That left the 10-year yield 41 basis points above the 2-year. Freddie Mac's latest weekly survey put the average 30-year fixed mortgage rate at 6.71% (September 3). The 3-month Treasury bill yielded 3.94%.
Source: U.S. Department of the Treasury, Federal Reserve Bank of St. Louis.
Currencies
The euro eased 0.07% to $1.1614 in the European Central Bank's daily reference rates, while the dollar fell 0.29% against the yen to ¥154.30 and the British pound inched higher to $1.3546. Overall, the dollar strengthened against four of the nine major currencies we track.
Commodities and bitcoin
WTI crude climbed 1.7% to $93.03 a barrel, while Brent, the international benchmark, advanced 1.7% to $97.92 a barrel.
U.S. natural gas futures dropped 2.0% to $2.916 per million British thermal units. Gold retreated 0.8% to $4,439.00 an ounce, and silver edged up 0.4% to $66.30 an ounce. Copper, often watched as a barometer of industrial demand, advanced 2.2% to $6.739 a pound.
Bitcoin lost ground 0.7% to $78,549.
On the calendar
No major U.S. economic releases are scheduled today.
Coming up
- Thu Sep 108:30 a.m.Producer Price Index (PPI)Bureau of Labor Statistics
- Fri Sep 118:30 a.m.Consumer Price Index (CPI)Bureau of Labor Statistics
- Wed Sep 162 p.m.Fed policy decision + economic projectionsFederal Reserve (FOMC)
Chart of the day
Source: S&P Dow Jones Indices.
U.S. home prices climbed to 1.5% in June from 1.2% in the prior month. That is down from 1.9% a year earlier. Over the past 10 years it has ranged from -0.3% (May 2023) to 20.8% (March 2022).
What it measures. The 12-month change in the S&P Case-Shiller U.S. National Home Price Index, which tracks repeat sales of the same single-family homes.
Why it matters. Home values are the largest source of wealth for many American households, and they feed directly into affordability for first-time buyers.
The numbers
| Instrument | Last | Chg | % | ||
|---|---|---|---|---|---|
| Stocks | |||||
| S&P 500 | 7,673.52 | −45.08 | −0.58% | ||
| Nasdaq Composite | 26,421.41 | −85.58 | −0.32% | ||
| Dow Jones Industrial Average | 52,786.07 | −628.18 | −1.18% | ||
| Russell 2000 | 2,960.20 | −15.45 | −0.52% | ||
| Cboe Volatility Index | 15.72 | +0.42 | +2.75% | ||
| Treasury yields | |||||
| 3-month Treasury bill | 3.94% | +3 bp | — | ||
| 2-year Treasury | 4.39% | +2 bp | — | ||
| 5-year Treasury | 4.57% | +3 bp | — | ||
| 10-year Treasury | 4.80% | +2 bp | — | ||
| 30-year Treasury | 5.25% | +1 bp | — | ||
| Currencies | |||||
| Euro (EUR/USD) | $1.1614 | −0.0008 | −0.07% | ||
| Japanese yen (USD/JPY) | ¥154.30 | −0.45 | −0.29% | ||
| British pound (GBP/USD) | $1.3546 | +0.0015 | +0.11% | ||
| Chinese yuan (USD/CNY) | 6.7105 | −0.0005 | −0.01% | ||
| Canadian dollar (USD/CAD) | 1.3805 | −0.0015 | −0.11% | ||
| Swiss franc (USD/CHF) | 0.8115 | +0.0023 | +0.28% | ||
| Australian dollar (AUD/USD) | $0.7214 | 0.0000 | 0.00% | ||
| Mexican peso (USD/MXN) | 16.9510 | +0.0389 | +0.23% | ||
| Commodities | |||||
| WTI crude oil | $93.03 | +1.55 | +1.69% | ||
| Brent crude oil | $97.92 | +1.64 | +1.70% | ||
| Natural gas | $2.916 | −0.059 | −1.98% | ||
| Gold | $4,439.00 | −37.60 | −0.84% | ||
| Silver | $66.30 | +0.25 | +0.38% | ||
| Copper | $6.739 | +0.142 | +2.15% | ||
| Digital assets | |||||
| Bitcoin | $78,549 | −518 | −0.66% | ||
Closing levels for September 8, 2026. Yields in percent; changes in basis points (bp). Currencies are ECB reference rates. Commodities are front-month futures settlements.
Diurna briefs are compiled from official and exchange data by our publishing system using fixed editorial rules; they describe market moves and do not speculate about causes. This is not investment advice. How we produce the Daily Brief.