Finance Evening | Brent crude tops $100 as North American stocks slide

📊 Today's North American Markets

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1. Brent crude tops $100 a barrel as Middle East conflict escalates

Source: Xinhua Finance

International crude futures climbed in early trading on September 9, driven by escalating Middle East conflict, with November Brent crude futures breaking above $100 a barrel. As of 8:45 a.m. ET on September 9, Brent reached as high as $100.95 a barrel, up $4.67, or 4.85%, from the previous close.

October West Texas Intermediate (WTI) futures rose as high as $95.96 a barrel, up $4.48, or 4.9%. U.S. Central Command said on the 8th that it destroyed five Iranian oil tankers after Iran attacked a U.S. warship, and Secretary of State Marco Rubio said the U.S. would keep striking Iranian tankers. Iran's Revolutionary Guard announced on the 9th that it struck two U.S. warships and eight oil tankers.

Goldman Sachs co-head of global commodities research Daan Struyven said oil prices risk rising to $120 a barrel as attacks increasingly disrupt shipping.

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2. 10-year Treasury yield hits highest since 2023

Source: CNBC

U.S. Treasury yields rose on Wednesday, with the 10-year yield up 4 basis points to 4.845%, hitting its highest level since November 1, 2023, when it peaked at 4.935%. The 30-year yield rose 3 basis points to 5.295%, while the 2-year yield climbed nearly 4 basis points to 4.436%.

Treasury Secretary Scott Bessent said the department will buy back $6 billion of longer-dated government debt, though some on Wall Street had expected a larger buyback, sending yields higher. Rising oil prices also lifted yields — Brent crude settled up 3.36% at $101.21 a barrel and WTI rose 3.25% to $96.05, both the highest settlements since May.

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3. Meta's new Muse AI agent draws early interest as stock rises

Source: Investor's Business Daily

Meta Platforms stock jumped in early trading Wednesday, a sign investors are excited by their first look at the company's new AI agent app. The Facebook parent announced the new Muse app late Tuesday, pitching it as a tool to help sort email, make reservations and track health goals.

Meanwhile, the broader market traded lower as oil prices and Treasury yields kept rising.

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4. Nike set to be removed from the S&P 100

Source: Fox News

Sports apparel giant Nike is set to be removed from the S&P 100, ending a run of nearly 18 years in the blue-chip index. S&P Dow Jones Indices announced the move Friday, and Nike will come out before trading begins September 21.

Nike shares closed Tuesday at $38.10, giving the company a market capitalization of roughly $56.5 billion, about 79% below its November 5, 2021 intraday record of $179.10, with more than $220 billion in market value wiped out. The report also revisited Nike's brand controversies, including the 2018 Colin Kaepernick campaign and then-CEO John Donahoe's 2021 "we are a brand of China and for China" remark.

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5. Apple's new CEO John Ternus says the iPhone is still the best AI device

Source: TechCrunch

Apple's new CEO John Ternus used the opening of Wednesday's "Surprise and Shine" event to make the company's AI strategy clear: the iPhone is already the best AI device, and Apple cares more about data privacy than its rivals. Ternus took the reins from Tim Cook, who is now executive chairman.

Ternus described the ideal AI device as an "intelligent personal hub," one with a deep understanding of a user's personal context, always with them, and with a powerful on-device processor plus cloud access. He stressed that "Apple Intelligence runs on device whenever it can."

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6. Bombardier caught in the crossfire of the U.S.-Canada trade feud

Source: CBS News

Canadian aircraft maker Bombardier has become an emblem of the escalating U.S.-Canada trade feud. Trump threatened Monday on Truth Social to block the Montreal-based company's U.S. sales unless it manufactures in America, writing "NO MORE SELLING BOMBARDIER IN THE UNITED STATES!" Canadian tariffs on $20 billion in U.S. goods took effect just after midnight Tuesday.

Wall Street analysts said it is unclear whether Trump could legally ban Bombardier from selling planes to U.S. customers, and noted such a move would hurt domestic suppliers and buyers. Bombardier shares fell roughly 3% Tuesday. The company stressed it has plants in 20 U.S. states, suppliers across 47 states, and spends over $2.5 billion annually with U.S. suppliers.

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7. U.S. announces bans and tariff changes on some Canadian goods

Source: Economic Observer

The White House said on the 8th that President Trump signed five documents that day, invoking Section 338 of the Smoot-Hawley Tariff Act to ban some Canadian goods from entering the U.S. market and adjust tariffs on others. Trump said that since announcing 50% ad valorem tariffs on some Canadian goods on July 20, Canada has maintained discriminatory practices against U.S. alcohol, dairy and automobiles.

Under the orders, the U.S. will ban imports of some Canadian alcohol, whey products and motorcycles starting September 29, and will impose 50% import tariffs on about 100 categories of Canadian goods starting September 15, covering animal hides, cheese, furniture, steel, aluminum alloy and paper, among others. The Wall Street Journal reported the banned Canadian goods are worth no more than $10 billion.

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8. Several institutions trim U.S. Treasury holdings

Source: Sina Finance

Some major economies have been reducing their U.S. Treasury holdings recently. The latest U.S. Treasury data showed Japan and the U.K. cut their holdings by $26.4 billion and $8.7 billion respectively in June.

Turkey nearly cleared all of its U.S. Treasuries in March. ABP, one of Europe's largest pension funds, also lowered its U.S. Treasury allocation in the first quarter.

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9. HSBC scales back German transaction services, cutting over 300 jobs

Source: Sina Finance

HSBC is gradually scaling back its transaction services business in Germany, resulting in more than 300 job cuts. A spokesperson said the roles will be phased out in a socially responsible manner by 2028.

Affected positions include roughly 300 at HSBC Transaction Services GmbH and 20 at HSBC Service Company Germany GmbH. The transaction services unit provides securities processing, administration and custody services. Last year, HSBC Germany completed the sale of its private banking business to BNP Paribas.

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10. How much interest will a $10,000 6-month CD earn now?

Source: CBS News

If you have $10,000 this September, you may want to reconsider where it sits. The average traditional savings account rate is just 0.38%, while inflation remains above 3%, making it hard to keep pace. Top 6-month certificate of deposit (CD) rates currently range from about 4.00% to 4.20%.

At those rates, a $10,000 6-month CD opened now and held to maturity (through March 2027) would earn roughly $200 in interest. The report notes CD rates shift with markets — today's rates are higher than this spring but lower than in August and October 2025 — so it may be worth locking in a higher rate before they change again.

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