US stocks weekly: Yields bite

Novartis AG

14/09/2026 11:00

Repeats from Friday with no changes to text. Update graphic
** S&P 500 .SPX falls 0.8% as traders grapple with soaring oil prices, inflation jitters .N
** Dow .DJI drops 1.6%, tech-heavy Nasdaq Composite .IXIC retreats 0.7%
** S&P 500 volatility compression still suggests bigger move ahead 
** This, with the factor derby down to two horses
** U.S. 10-Year Treasury US10YT=RR yield surges after enlarged Treasury bond buyback announcement disappoints some investors, then flirts with 5% level after CPI data fuels rate-hike bets, finishes around 4.97% US/
Benchmark Treasury yield at a crossroads: Breakout or reversal? 
** Most sectors lose a chunk: Healthcare and interest-rate-sensitive plays torn into, while Communication Services and Energy regenerate
** Healthcare .SPXHC sheds 3.6%. Cooper Companies COO.O tumbles after cutting annual profit forecast on weak contact lens demand
Amgen AMGN.O declines after Novartis' NOVN.S cholesterol drug failed in a closely watched study
** Tech .SPLRCT eases 0.2%. Qualcomm QCOM.O jumps after deal with Amazon AMZN.O to develop custom AI data-center chips
Semiconductor index .SOX lifts 0.8%
Apple AAPL.O ticks down on Weds after co unveils its first foldable iPhone under new CEO John Ternus, but stock finishes week up ~4%
Oracle ORCL.N initially rises on Fri after topping Wall Street estimates as AI demand tempers cash-burn fears, though finishes in the red
** Communication Services .SPLRCL adds 1.1%. Facebook/Instagram owner Meta META.O gains after launch of Muse AI agent
** Energy .SPNY climbs 2%. Sector gains as oil prices surpass $100/barrel with Middle East conflict intensifying O/R
** Meanwhile, retail investors grow more bearish as economy, inflation dominate
** SPX performance YTD:

SP 500 2026 YTD THROUGH SEPTEMBER 11 https://fingfx.thomsonreuters.com/gfx/buzz/zjvqlkwdopx/SP%20500%202026%20YTD%20through%20Sept%2011.jpg
(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)
((lance.tupper@tr.com ; terence.gabriel@tr.com))