This content was published on
September 11, 2026 - 09:32
4 minutes
(Bloomberg) — US stocks and Treasuries caught some respite as oil prices eased, with traders waiting for the August US inflation report for the clearest signal yet on whether the Federal Reserve will hike interest rates next week.After surging yields and a rally in crude set the S&P 500 on course for its worst week since June, futures for the index rebounded 0.4%. Europe’s Stoxx 600 gained 0.2%. Brent dropped toward $105 a barrel, while still on track for a nearly 10% jump since Monday. Treasury yields fell, led by the short end.Traders are on edge going into Friday’s inflation print at a time when concerns over oil-driven price pressures have pushed global bond yields to the highest in years. Money markets have raised the odds of a September hike to more than 70% on growing conviction that policymakers will struggle to justify putting off tightening policy for longer.Economists expect the consumer price index rose 0.4% in August, an acceleration from a month earlier, due in part to higher gasoline costs. Stripping out the volatile energy and food components, the core CPI is projected to have risen by a more moderate 0.2%.An in-line print “would not preclude a hike next week,” noted Barclays Plc strategist Emmanuel Cau. “While a hike could weigh on equities initially, greater policy clarity may ultimately be rewarded.”Markets in Asia tracked Thursday’s moves in the US. The MSCI Asia Pacific Index fell 1.3%, with Japan’s Nikkei 225 sinking 1,9%. Australia’s three-year yield jumped as much as 20 basis points to 5.05%, its highest level since 2011, while New Zealand’s two-year yield climbed 25 basis points.Elsewhere, Oracle Corp. shares gained in extended trading after the company reported faster growth in its cloud-computing business than analysts had projected.What Bloomberg’s Strategists Say…“The current speed of ascent for bond yields recalls previous episodes which have dragged global stocks lower in their wake. The previous two big selloffs for MSCI World index coincided with spiking Treasury yields.”— Mark Cranfield, Markets Live Strategist. For more on the analysis, click here.Corporate Highlights:Cybersecurity is the next big market for AI, with advances in the technology set to disrupt an industry geared to defending computer systems, said Nvidia Corp. Chief Executive Officer Jensen Huang. Oracle Corp.’s cloud computing business grew faster than analysts projected, signaling the company’s big bets on AI data center projects are paying off. Anthropic PBC accused China’s artificial intelligence champion Moonshot AI of covertly routing thousands of user requests to the US firm’s Claude models and passing off the responses as its own in a bid to gain an edge in the AI race. Microsoft Corp. plans to more than triple its data center capacity, an effort that could help the company overcome a computing shortage that has forced it to turn away some AI and cloud business. Some of the main moves in markets:StocksThe Stoxx Europe 600 rose 0.2% as of 8:30 a.m. London time S&P 500 futures rose 0.4% Nasdaq 100 futures rose 0.4% Futures on the Dow Jones Industrial Average rose 0.4% The MSCI Asia Pacific Index fell 1.3% The MSCI Emerging Markets Index fell 1.3% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1607 The Japanese yen rose 0.1% to 154.22 per dollar The offshore yuan was little changed at 6.7098 per dollar The British pound was little changed at $1.3520 CryptocurrenciesBitcoin was little changed at $77,308.1 Ether rose 0.3% to $2,468.75 BondsThe yield on 10-year Treasuries declined two basis points to 4.94% Germany’s 10-year yield was little changed at 3.51% Britain’s 10-year yield declined one basis point to 5.36% CommoditiesBrent crude fell 1.9% to $105.59 a barrel Spot gold rose 0.6% to $4,345.86 an ounce This story was produced with the assistance of Bloomberg Automation.–With assistance from Nicholas Reynolds.©2026 Bloomberg L.P.
