Brent crude climbed to $100 per barrel on Wednesday, prompting markets to adjust expectations that the Federal Reserve may raise interest rates at its next policy meeting, which pushed bond yields higher. The 2-year Treasury yield rose to 4.42%, while the 10-year yield hovered near 4.8%.
On Wednesday, September 9, sector performance showed mixed results. Technology stocks advanced: Tesla shares jumped 1%, and Meta gained 3%, while Apple held steady ahead of its product launch event in California. The energy sector extended its gains from the previous trading day, but rate-sensitive financial services and consumer discretionary sectors experienced declines.
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