Market Open: Stocks Lower as U.S. Crude Tops $100; Yields Rise • 9/10/26

0:01CNBC Business News update. Market open. Wall Street poised for a fourth down day in a row for the major averages. U.S. crude oil topping$100 a barrel today. Back to where it was before Memorial Day. Treasury yields are higher. The 10-year topping 4.9 percent this morning. Its highest since 2003. Oil prices sparking more. Inflation fears helping to send those rates higher. The Dow down 291 points. NVIDIA shares leading it lower. They're down more than 2%. The S &P 500 index is down 53 points. That's almost three quarters of a percent this morning. The NASDAQ is down 221 points. That's eight tenths of a percent.

0:45Prices at the pump hitting$4.27 overnight for American drivers, up a nickel since yesterday, according to AAA. after popping seven cents a gallon the night before. A big surge as oil prices have now risen for eight straight days, which is its longest streak in about three years for the price of oil. But it's diesel fuel that CNBC Mad Money host Jim Cramer is watching. Diesel is up so much. It's jumped 24.1%. Diesel is what's causing food. We are a trucking nation. What we have here is a surtax that's put on us throughout the chain. And the surtax is a 25 percent diesel, and that's going to be through everything.

1:27We all act as if, well, it's fine, it'll be over. But is it over after six months? The oil market bracing for a much longer U.S. war with Iran. The countries have exchanged attacks on ships in the Strait of Hormuz. President Trump saying oil prices will not fall until after the midterm election because the war will end immediately after the election. The president believes Iran is working to make sure his party has an unfavorable outcome at the ballot box in November. Americans are struggling with high inflation pushed even higher by high gas prices. The Wall Street Journal reports that top White House advisers have raised privately with the president the possibility that the Iran conflict could drag on for the rest of his term.

2:10Inflation rose at the wholesale level in August, as expected, up four-tenths of a percent from July. Year over year, the producer price index now sitting at 5.4%. We'll get the latest on consumer price inflation tomorrow morning with the CPI, the consumer price index out at 8.30 Eastern. Full coverage on CNBC, CNBC.com and the CNBC app on your phone. Treasury yields are higher today. Here's CNBC's Ben Boulos. Treasury yields jumped to their highest level in almost three years after U.S. Treasury Secretary Scott Besant announced plans to buy back as much as$6 billion in long-term debt. And mortgage rates are poised to hit 7 % today after yesterday's national average of 6.98 % for a 30-year fixed home loan, according to Mortgage News Daily, as mortgage rates loosely follow the rate on the 10-year Treasury.

3:08Jessica Ettinger: That has popped higher. Apple shares were higher on this down day for the markets. It unveiled the iPhone 18 and a$2 ,000 phone, that's the entry-level price, for the foldable Duo, which takes a page out of the Samsung playbook. Fewer people applied for unemployment benefits last week. Jobless claims came in at 206 ,000. Job cuts continue to remain in an historically low range. Employers remembering the labor shortages after the pandemic. Many do not want to let go of staff. Macy's out with strong quarterly results. Its turnaround is taking hold. Netflix airs the first international NFL game of the season.

3:51Tonight, Melbourne, Australia, Rams and 49ers. Jessica Ettinger, CNBC. Hey, Fidelity. How can I remember to invest every month?

4:02Jessica Ettinger: With the Fidelity app, you can choose a schedule and set up recurring investments in stocks and ETFs. Oh, that sounds easier than I thought. You got this. Yeah, I do. Now, where did I put my keys? You will find them where you left them. Investing involves risk, including risk of loss. Fidelity Brokerage Services, LLC, member NYSE SIPC.