Market Open: Stocks Now Lower, Bond Yields Rise, Gas Prices Ease • 10/1/26

0:01CNBC Business News Update. Jessica Ettinger. Turnaround for the major averages on Wall Street on this first trading day of October and of the fourth quarter of the year. Bond yields are soaring. Oil is ticking higher and stocks are now lower. The Dow down 246 points. That's a half a percent. Sherwin-Williams shares leading the Dow lower. They're down 3 percent. Sherwin-Williams makes paint. Paint relies on oil. Oil is higher. S &P 500 index down 17. The Nasdaq now down 27 points. The Dow coming off a losing month of September, breaking a five-month winning streak. For the quarter, it was the worst quarter for bonds in more than 20 years.

0:40Bond yields have been rising. Price is falling. Here's CNBC's Joe Kernan with Becky Quick. The S &P continues to be in the 76s. It'd be an all-time high if it closed above 7 ,800 and stuck there. It's less than 2 % away. Yeah, less than 2%. After all was said and done, which you'd have to give a decent grade for September for just holding on to what has been a pretty good year, whether that's AI or an economy, whatever it is, because treasuries have not been cooperating unless their yields are up for a good reason. And you can see now 530. So I think it's 2002 now. The yield on the 10-year note hit its highest this morning in 24 years since 2002.

1:20intraday high so far today, 5.342%. It's highest back to April of 02. Good for savers who might get more interest on their high yield savings accounts, but it gives stock investors a reasonable alternative for some gains with very little risk. A take from CNBC's Joe Kernan and Davidson Kempner's Tony Yoseloff. If you take a step back and you take a historic view, rates are just higher. They're not high. You know, the 10-year is still relatively low compared to where it could be. You had a very strong economy for most of the 1990s with a 10-year more in the 6th to 7th percent. But we can handle it, you're saying?

1:59I do think we can handle it. Oil fell to where it was on September 1st, but now it's back up again today on news. China has banned all exports for this month, taking some product off the market, sending U.S. crude up above$90 a barrel. The world's benchmark Brent back up near$100 a barrel. a take from CNBC Mad Money host Jim Cramer and CNBC's Carl Quintanilla today. President today, cover of Time magazine, broad interview, suggesting again that he might resume strikes after the midterms, for example. Market has to fold all that in. Yeah, I mean, why have oil plummet if one month from now oil is going to go right back up?

2:37Relief at the pump for American drivers today. AAA says the national average for a gallon of regular, down seven cents from last week, sitting at$4.41 a gallon. Diesel is down 13 cents today from its record high. South Korean President Lee, meantime, pushing back on an Alaska liquid natural gas project after President Trump highlighted South Korea's investment in it. South Korea says the deal is not final. Fewer people applied for unemployment benefits last week. 197 ,000, That's historically low and the lowest since mid-July, as job cuts do remain low. The September jobs report out tomorrow morning.

3:20The forecast is for 90 ,000 new jobs added and an unemployment rate holding at 4.1%. That's according to a fact-set survey. Full coverage of jobs Friday on CNBC, CNBC.com, and the CNBC app on your phone. Jessica Ettinger, CNBC. It's the holiday season at House of Burrow, which means that it's the perfect moment to review some key rules. Rule number five, more style means more celebration. Number four, buy gifts, but remember to treat yourself too. Number three, there is no dress code, but always leave them talking. Number two, show off different outfits. No party remains unattended. And rule number one, have it all without spending it all.

4:03Happy holidays from House of Burl, Burlington.