CNBC Business News Update - Market Midday: Stocks Higher, Yardeni Calls Treasury Yields “Normal” • 9/2/26

Episode Date: September 2, 2026

CNBC Business News Update with Jessica Ettinger - Markets & Business News With Expert Analysis From Top Business Names. Visit CNBC.com For More. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

CNBC Business News Update, midday Wednesday. I'm Jessica Eddinger, Wall Street and the green this afternoon for the major averages. The Dow up 267 points. That's a half a percent. NVIDIA shares, taking that Dow higher up four and a half percent for NVIDIA. Disney's up 2 percent this afternoon, Boeing up almost 2 percent. The S&P 500 index is up 38 points. That's a half a percent today.

And the NASDAQ is up 100 points, three-tenths of one. percent. The yield on the 10-year Treasury hit its highest level since November of 2023 today, touching 4.8-18% before pulling back. The 10-year is the main benchmark for your mortgage, your auto loan, and credit card debt. Here's a take from Yardini researches, Ed Yardinney, on CNBC. Bond yields actually around the world are kind of back to where they were before the great financial crisis. They're back to normal. The abnormality was central bankers rigging their short-term and long-term interest rates with quantitative easing between the great financial crisis and the great virus crisis. So maybe these rates have normalized a little too fast for

some people. U.S. crude oil back above $90 a barrel this afternoon for WTI, West Texas Intermediate, even though the energy secretary Chris Wright told CNBC today, the most oil flowed through the Strait of Hormuz since the start of the Iran war on Monday. Monday was our record ever since the conflict began. Over 17 million barrels of oil flowed through the Strait of Hormuz on ships on Monday. If you add the bypass export pipelines more than left the region in the pre-conflict. So is Iran trying to challenge that? Yes.

Are there challenges? Yes. But this is the United States Navy and President Trump taking the one card out of Iran's hands, which is to try to hold the world economically. cost it. Triple A today says a national average for a gallon regular gas popped up to $4.12. Disappointing job creation numbers from ADP for August. Here's CNBC Senior Economics Reporter, Steve Leesman. Total private payrolls for ADP up 38,000. And that's versus an estimate of 53,000 jobs by industry. There it is, education and health services, as always, up by a 45,000 leading the way.

leaves your own fatality in the second position there for 16,000. Construction OK, professional business services down 16,000. And manufacturing, taking a big hit. We'll have to look into that a little bit more. Uber, cutting more than 3,000 people as it eliminates 10% of its workforce globally. The White House getting ready to put tariffs on semiconductors. Commerce Secretary Howard Lutnik spoke with CNBC at the G20 meeting in North Carolina. Meantime on the trade war with Canada, the secretary tells CNBC he thinks a trade deal will happen.

with Canada after Canada's elections this fall. They did it for politics. They're going to do it through their elections in Quebec, and then they have an election in Alberta, and after October 12th, all of a sudden the Canadians are going to treat us respectfully because their elections will be behind them. Mortgage rates are eyeing 7% again for a 30-year fixed home loan.

The average rate today, according to Mortgage News Daily, 6.89%. That's the highest in more than a year since June of 2025. JetBlue adding first-class seats to domestic flights. Blue-first passengers will board in Group 1, get bigger seats that recline more. They can choose meals and cocktails on the seatback screen. Amenities include a snooze kit and blanket for overnight trips. Jessica Eddinger, CNBC.