Market Open: Stocks Fall as Bond Yields Jump, Trump-Xi Summit On • 9/24/26

0:00CNBC Business News Update Market Open. I'm Jessica Ettinger. Wall Street pulling back this morning. You've got bond yields rising. The yield on the 10-year Treasury heading toward 5.2 percent at a 19-year high. The 30-year Treasury yield hit its highest level since 2004. Global bond yields also hitting multi-year highs. Some of what's happening is giving investors an alternative to risky stocks. The Dow down 242 points out of the gate. Boeing shares leading it lower. They're down almost 2%. This morning, Goldman Sachs down 1.5%. The S &P 500 index down 30 points. The Nasdaq's down 171 points. That's a half a percent.

0:40Chipmaker shares are mixed. Soaring treasury yields could cause pain for consumers by way of higher borrowing costs, just as Americans are dealing with high inflation and higher prices at the pump. AAA says the national average for a gallon of regular back up today to$4.48 a gallon. Diesel fuel about a half a cent below its all-time high,$6.52 a gallon. U.S. crude oil back above$94 a barrel this morning. Brent's above$105. The Trump-Xi summit on today in Washington, D.C. They're expected to talk about AI, Taiwan, trade, and Iran. Here's CNBC's Joe Kernan. President Trump traveled to joint base Andrews outside Washington to greet China's leader on tap for today, an arrival ceremony at the White House, a review of troops.

1:29The White House will host a black tie dinner tonight with tech titans like NVIDIA's Jensen Wong, Tesla's Elon Musk, many, many more. Meanwhile, Treasury Secretary Scott Besson telling Fox that the U.S. and China have agreed to extend a trade truce for two months until January 10th. Australia's government says OpenAI breached a government health data portal back in June, the first known incident of an AI agent hacking a government website. Here's CNBC's Morgan Brennan. The disclosure coming after Anthropics CEO Dario Amadei addressed the United Nations Security Council warning of the risks tied to AI and calling for global guardrails.

2:10I see two main categories of risk. The first is misuse of AI models. For example, misuse by bioterrorists to create biological weapons. The second risk is loss of control. Model capabilities accelerating beyond developers' ability to control them. These questions are global in scope and concern all of humanity. Well, this latest AI agent breach highlighting the market's increased attention on the cyber defense sector. Names like CrowdStrike, Fortinet, SentinelOne, Cloudflare, all trading in record territory. insurance companies have had a good year when it comes to major storm damage the 2026 atlantic hurricane season broke a 112 year record reaching late september with zero hurricanes formed but insurers are watching a nasty nor 'easter right now on the atlantic coast here's accuweather's leslie hudson in hampton roads virginia we have been prepping for this nor 'easter for about three days and today it will make its closest approach here to the Virginia Beach area.

3:10The eastern seaboard extremely susceptible to beach erosion and Virginia Beach here where we are has actually invested about one billion dollars since 2001 trying to re-nourish this particular stretch of beach and just last year the nor 'easter from 2025 in October did significant damage in this region. So folks here are worried what this one will deliver. The labor market remains stable. Fewer people applied for unemployment benefits last week, 197 ,000. And the number of continuing claims remains near a three-year low. This is the number of people who continue to collect unemployment checks week after week.

3:48It's used as a measure of how easy it might be for people to find their next job. I'm Jessica Edinger, CNBC. Introducing Fidelity Trader Plus, the next generation of advanced trading from Fidelity. Customize your tools and charts and access them seamlessly across desktop, web, and mobile. For faster trades, anywhere you go. Try the all-new Fidelity Trader Plus. Learn more about our most powerful trading platform yet at fidelity.com slash trader plus. Investing involves risk, including risk of loss. Fidelity Brokerage Services, LLC. Member NYSE SIPC. We'll see you next time.