Morning Preview: September 09, 2026

Early Look

Wednesday, September 9, 2026

U.S. futures are adding to Monday’s declines as a relentless push higher for oil prices as U.S./Iran tensions get worse, coupled with surging Treasury yields weighs on investor sentiment ahead of key consumer prices (CPI) and producer prices (PPI) inflation data later this week. Oil and Treasury yields higher keeping the inflation fears on Wall Street high as the U.S. 10-Year Treasury Yield hits highest closing level since 2023 around 4.82% and Brent oil tops $100 per barrel. CENTCOM said forces destroyed five Iranian crude oil carriers, Sept. 8, after the Islamic Revolutionary Guard Corps targeted a U.S. Navy warship with ballistic missiles twice over the past two days; the US warship successfully evaded the attempted Iranian attacks.

Of note today, the annual Apple (AAPL) iPhone launch event later this afternoon where new CEO John Ternus, who took over from former CEO Tim Cook on Sept. 1, is widely expected to oversee the debut of Apple’s first foldable iPhone, as well as upgrades to its iPhone 18 Pro models and Apple Watch lineup. Bloomberg noted the foldable iPhone will offer the same styling as other leading foldables, such as those from Samsung, though it will also carry a hefty price tag that could eclipse the $2,000 mark.

In Asian markets, The Nikkei Index slipped -126 points to 65,142, the Shanghai Index rose 10 points to 3,951, and the Hang Seng Index slipped -42 points to 25,274. In Europe, the German DAX is down -345 points or 1.3% to 25,662, while the FTSE 100 is down -65 points to 10,746. The U.S. dollar neared its lowest in nearly seven months as the yen rallied, with traders looking ahead to the US Treasury’s buyback announcement and inflation data later this week. The Treasury Department is expected to announce later Wednesday the size of the following day’s operation to repurchase outstanding 10- to 20-year securities.

• The Dow Jones Industrial Average fell -628.18 points, or 1.18%, to 52,786.07
• The Nasdaq Composite slumped -85.58 points, or 0.32%, to 26,421.41
• The Russell 2000 Index declined -15.44 points, or 0.52% to 2,960.21

• 7:45 AM ET ICSC Weekly Retail Sales
• 8:55 AM ET                  Johnson/Redbook Weekly Sales
• 1:00 PM ET US Treasury to sell 10-yr notes
• 4:30 PM ET API Weekly Inventory Data

• Earnings After the Close: AEO AVAV COO GLOO KEQU LAKE LMNR LSAK NAVN SKIL WLTH

• Bank America Media, Communications & Entertainment Conference, 9/9-9/10, in New York
• Bank America Gaming & Lodging Conference, 9/9-9/10
• Barclay’s Global Consumer Conference, 9/8-9/10, in Boston, MA
• Cantor Healthcare Conference, 9/9-9/11, in New York
• Citigroup 2026 TMT Conference, 9/8-9/10 in New York, NY
• Citigroup 2026 Biopharma Back to School Conference, 9/9-9/10, in New York, NY 
• DA Davidson 5th Annual Big Sky Technology Summit, 9/8-9/11, in Big Sky, MT
• Deutsche Bank 16th Annual Aviation Forum, 9/8-9/10 in New York
• Goldman Sachs Communacopia + Technology Conference, 9/8-9/11, in San Francisco, CA
• Jefferies Global Industrials & Materials Conference, 9/9-9/10 in New York
• Jefferies Renewables, Clean Energy, & Construction Conference, 9/9-9/11, in New York
• Wells Fargo 21st Annual Healthcare Conference, 9/8-9/10 in Everett, MA

• China’s August inflation data painted a mixed picture, with headline CPI rising 0.8% YoY (est. 0.8%, prev. 0.5%) and core CPI edging up to 1.0% YoY (prev. 0.9%). However, the improvement was driven largely by higher energy prices and selected goods, rather than a broad-based strengthening in consumer demand. China PPI rose 3.8% YoY (est. 3.6%, prev. 3.5%) and 0.4% MoM.
• The U.S. Central Command dismissed reports Iranian forces had hit its warships operating in the Middle East and said all attempted attacks had failed, in a post on X on Wednesday. “Iran’s Islamic Revolutionary Guard Corps (IRGC) forces have claimed they struck two U.S. Navy destroyers operating in the Middle East. This is completely FALSE,” U.S. CENTCOM said.
• Barclays raised its year-end target for the S&P 500 index to 7,950 from 7,800 on Wednesday, citing strong tech-led earnings and durable AI-driven growth. While earnings outlook has improved, “we remain conservative on valuations given resilient inflation, geopolitical uncertainty and a more hawkish rate outlook,” the brokerage said in a note.
• NASA is seeking proposals from companies, universities, nonprofits, and international partners for technologies supporting a sustained human presence near the moon’s South Pole. The agency is focusing on power generation, oxygen extraction, and material production.

• Casey’s General Stores (CASY) Q1 EPS $7.37 tops consensus $6.82 and revs $5.68B vs. est. $5.55B; Q1 inside same-store sales increased 3.2% y/y, and 7.7% on a two-year stack basis, with an inside margin of 42.2%; Q1 fuel same-store sales fell -0.3%; expects FY inside comp sales +2%-5% with an inside margin above 42%.
• Lyft (LYFT) and Waymo (GOOGL) announced that for the first time, riders in Nashville can be matched with Waymo’s fully autonomous vehicles directly through the Lyft app.
• Mission Produce (AVO) Q3 adj EPS $0.18 vs. est. $0.12; Q3 revs $450M vs. est. $367.57M; said expects Q4 avocado industry volumes to rise about 10% y/y; pricing in Q4 expected to be about 10% lower y/y due to higher supply; reaffirms H2 2026 adjusted EBITDA outlook of $84M-$88M.
• Smithfield Foods (SFD) guided Q3 adj operating loss of -$70M-$90M in its fresh pork segment, compared with a $10M profit a year earlier; guides Q3 adjusted operating income of $115M-$175M, which is down from $310M y/y.
• Sysco (SYY) reaffirms its FY27 outlook while raising its mid-term growth targets, backed by a new $500M AI-powered efficiency program designed to reduce structural costs over the next three years.
• Target Hospitality (TH) 14M share Spot Secondary priced at $18.50.
• Uber (UBER) President Macdonald Buys 70,000 Of Uber Technologies Inc on 9/4/26 @ $75.83 valued at $5,308,065, per SEC form 4 filing.
• Xponential Fitness (XPOF) announced the appointment of Jennifer Ryu as Chief Financial Officer, effective as of October 19, 2026, following the previously announced search process. Ryu will succeed Robert Julian, who has served as interim Chief Financial Officer since March 2026.
• HSBC downgraded luxury retailers LVMH (LVMUY) and Burberry (BURBY) to hold, citing limited visibility into the luxury sector’s second-half outlook. The bank set price targets of €490 for LVMH and 1,200 pence for Burberry while pointing to softer momentum across luxury goods; noted slower than expected performance at Dior alongside the weaker Fashion and Leather Goods division.

• Vistra Corp (VST) files for stock shelf; size not disclosed.
• Westlake (WLK) was downgraded to Market Perform from Outperform at BMO Capital and cut tgt to $82 from $96 citing leveled off commodity prices and mortgage rates reaching new highs.

• Visa (V) and World Bank group announce new risk-sharing initiative to expand digital payments and financial inclusion in emerging markets; facility expected to support $200M in risk sharing over five years.

• UnitedHealth (UNH) is said to have sold an interest in some of its Optum Health operations in Florida to private equity company TPG as the health conglomerate is working to recover from a collapse in profits last year – Bloomberg.
• The Trump administration appointed Michael Davis and Karim Mikhail to permanently lead the FDA’s Center for Drug Evaluation and Research and Center for Biologics Evaluation and Research, respectively. The moves come as the White House advances broader changes at the agency, including the nomination of Heidi Overton as FDA commissioner. Investors will watch for potential implications for drug approvals, vaccines, and tobacco regulation.

• Galaxy Digital Inc. (GLXY) announced that five of its Texas data center projects received conditional classifications under the Electric Reliability Council of Texas (“ERCOT”) Batch Zero large load interconnection process, covering approximately 4.2 gigawatts of gross power capacity.
• Google (GOOGL) will invest at least €13 billion ($15.1 billion) in artificial intelligence infrastructure in Finland over the next two years and has signed its first nuclear power contract outside the U.S., it said on Wednesday. The Finnish deal includes a 22-year purchase agreement for up to 50% of the energy output of one of Finland’s two nuclear plants.
• Google (GOOGL), Blackstone (BX) Venture faces delays at data center sites – Bloomberg News.
• Ingram Micro (INGM) 13.125M share Spot Secondary priced at $27.25
• Meta Inc. (META) CEO Zuckerberg said Meta posts across both Threads and X to reach different audiences. He believes Threads is nearing or may have surpassed X in size, while X remains valuable for engaging Ai and tech communities. Threads has reached 500M monthly users, putting it halfway toward Zuckerberg’s 1B goal. https://tinyurl.com/yc6eymju
• Mind Technology (MIND) shares fall; Q2 EPS loss widened to $1.7M or (-$0.19) EPS vs $0.24 y/y; Q2 revs fell -42.3% q/q to $5.6M from $9.7M and down -58.8% y/y; Seamap backlog fell to $4.8M from $7.6M at April 30; after-market revenue was about 87% of total.
• ServiceTitan (TTAN) shares fall; Q2 revs rose 21% y/y to $292.8M vs. est. $286M; sees Q3 revs $285M-$287M vs. est. $287.8M; Q2 operating loss narrowed to -$27.6M from -$34.8M; raises FY27 revenue view to $1.139B-$1.144B from $1.13B-$1.14B (est. $1.14B) and ups FY27 income from operations view to $152M-$154M from $142M-$147M; named Rikus Pretorius chief revenue officer, effective at the start of fiscal Q4.
• Three Anthropic researchers went public last night with chilling concerns about out-of-control AI, warning it could destroy humans this decade, Axios reported. https://tinyurl.com/22b9c4x7
• The National Security Agency, FBI, and Cybersecurity and Infrastructure Security Agency have accused China’s top Ai companies of extracting proprietary knowledge from American firms and also warned U.S. developers to protect their work – Bloomberg https://tinyurl.com/298mahzz