Stock market today: Dow, S&P 500, Nasdaq mixed as US-Iran war escalates, inflation jitters return
US stocks were mixed in premarket trading on Wednesday as rising oil prices and bond yields sent ripple effects across markets.
The Dow Jones Industrial Average (^DJI) rose 0.3%, while the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) both floated around the flatline after a losing day on Wall Street.
(^DJI)
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52,994.17+227.29(+0.43%)
As of 9:33:45 AM EDT. Market Open.
^DJI^GSPC^IXIC
Stocks got off to an unsteady start in September as the war in Iran escalated, causing Brent (BZ=F) crude oil prices to jump above $95 per barrel. On Tuesday, President Trump threatened to hit Iran “much harder” if the nation retaliates against a barrage of airstrikes launched on Tuesday. Iran has said it is targeting US military bases in Jordan and Bahrain.
The latest flare-up in hostilities has amplified fears of rising inflation, driving up bond yields in the process. On Tuesday, the 10-year Treasury yield (^TNX) rose to 4.79%, while the 30-year (^TYX) climbed to 5.27%, affecting a range of assets.
A trade standoff with Canada also remained in focus, with Canadian Prime Minister Mark Carney saying the US and Canada could resume trade discussions when Americans “stop throwing shade” and “start being serious” about negotiations. However, Treasury Secretary Scott Bessent downplayed the idea that the US was in a trade war with Canada.
On Wednesday, ADP’s hiring data showed the US private sector added 38,000 jobs in August, below economists’ estimates of 47,000 positions added — a slightly bearish lead into what Friday’s monthly jobs report may show.
Earnings from Broadcom (AVGO) and Snowflake (SNOW) are also on the docket on Wednesday, with both set to report after the closing bell.
