US Macro Daily(Beta Mode)
Yields Rise Ahead of ISM and JOLTs Data
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| S&P 500 | 7,711.76 | -0.25% |
| Nasdaq 100 | 29,433.43 | -0.70% |
| Dow Jones | 53,559.99 | -0.02% |
| Russell 2000 | 2,972.37 | -1.39% |
| USD/JPY | 159.71 | +0.24% |
| EUR/USD | 1.16 | -0.48% |
| GBP/USD | 1.35 | -0.42% |
| Gold | 4,502.40 | +0.54% |
| WTI Crude | 86.44 | +3.65% |
| Bitcoin | 78,627.69 | +1.02% |
| US 2Y Treasury | 4.20% | +0.24% |
| US 10Y Treasury | 4.67% | +0.21% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
US 10Y Treasury Yield | Type: macro_line | Percent: 4.67 (2026-08-27) | Range: 1.28–4.98 | Trend(6pt): 1.31,3.53,4.25,4.43,4.66,4.67
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Dallas Fed Manufacturing Index | 1.30 | - | 06:30 |
| Tuesday (2026-09-01) | |||
| Speech by Fed's Barr | - | - | 05:05 |
| ISM Manufacturing PMI Index | 55.60 | 55.20 | 06:00 |
| JOLTs Job Openings Level | 7.4m | 7.3m | 06:00 |
| ISM Manufacturing Employment Level | 52.80 | - | 06:00 |
| API Weekly Crude Oil Stocks | 4.2m | - | 12:30 |
| Wednesday (2026-09-02) | |||
| MBA 30-Year Mortgage Rate | 6.78 | - | 03:00 |
| ADP Employment Change | 44,000 | 47,000 | 04:15 |
- Equities declined with S&P 500 falling 0.25% and Russell 2000 dropping 1.39% as yields climbed.
- US 2-year Treasury yield reached 4.20% and 10-year yield hit 4.67% amid elevated inflation at 3.30%.
- Oil surged 3.65% to $86.44 while gold advanced 0.54% to $4,502.40 on safe-haven flows.
Yesterday's Recap
US equity markets closed lower on August 30 with the S&P 500 at 7,711.76, Nasdaq 100 at 29,433.43 and Dow Jones at 53,559.99. Small-cap underperformance stood out as the Russell 2000 fell to 2,972.37. Treasury yields advanced across the curve, lifting the 2-year to 4.20% and the 10-year to 4.67%.
WTI crude jumped sharply to $86.44 while gold rose to $4,502.40. The dollar strengthened modestly against the euro and pound, with EUR/USD at 1.16 and GBP/USD at 1.35. Bitcoin gained to $78,627.69 despite the risk-off tone in equities.
No major data releases occurred, leaving market moves driven by positioning ahead of the September 1 ISM print. GDP expanded 1.50% QoQ annualized in the latest reading while year-over-year growth reached 2.10%. Retail sales rose 5.01% year-over-year, supporting consumer resilience despite unemployment at 4.10%.
The Day Ahead
The Dallas Fed Manufacturing Index releases at 6:30 a.m. ET today with markets watching for any shift from the prior 1.3 reading. Tomorrow brings the high-impact ISM Manufacturing PMI at 6:00 a.m.
ET, expected at 55.2 after 55.6 previously, alongside JOLTs Job Openings projected at 7.3 million. ADP Employment Change follows on September 2 at a consensus 47,000. Factory Orders and EIA crude inventory data round out the mid-week calendar.
These releases will shape expectations for the September FOMC meeting against a Fed Funds rate of 3.63%. Broader labor-market cooling appears gradual rather than abrupt based on available indicators.
Other Economic Notes
GDP expanded 1.50% QoQ annualized in the latest reading while year-over-year growth reached 2.10%. Retail sales rose 5.01% year-over-year, supporting consumer resilience despite unemployment at 4.10%. Inflation remains above target at 3.30% year-over-year, keeping pressure on policymakers.
Broader labor-market cooling appears gradual rather than abrupt based on available indicators. These figures frame a soft-landing baseline that markets continue to price. No major US political statements altered the outlook.
