Mid-Morning Look: September 09, 2026

Mid-Morning Look

Wednesday, September 09, 2026

U.S. stocks are looking lower this morning as interest rate sensitive stocks and sectors are seeing the biggest pullbacks as another pop in Treasury yields (10-yr hits 4.81%) and oil prices (Brent above $100) raise concerns ahead of this weeks CPI and PPI inflation data. Brent crude oil prices topped $100 per barrel for the first time since July while the latest trade tit-for-tat between the U.S. and Canada will also affect a range of goods in autos, metals and consumer products. In an escalation of the trade dispute with Canada, the White House said it’s going to ban certain dairy and alcohol imports from there and limit government procurement access to Canadian businesses, effective in about three weeks. The moves come as Canada’s retaliatory tariffs on about $20 billion of goods went into effect. Copper prices are at record highs on concerns over potential U.S. tariffs and supply problems plus an insatiable demand for AI data-center infrastructure. Oil prices jumped after the US destroyed five Iranian crude tankers near Kharg Island following what US officials described as repeated Iranian attempts to target a US Navy vessel with ballistic missiles. Iran subsequently launched missiles towards Jordan and warned tanker crews near Kuwaiti and Bahraini ports to evacuate. Benchmark 10-year yield reaches highest level since late 2023 ahead of the U.S. Treasury to sell $39 billion in 10-year notes later on Wednesday. Still up later today, Apple (AAPL) holding its annual product event. Tech and Energy early sector leaders with the other nine S&P sectors all lower.

• Retail earnings: JILL sees FY26 revenue flat to up 2% y/y and comp sales down 1% to up 1% y/y, above prior view of a 1%-3% decline after better earnings results; in footwear, CAL better Q2 as EPS beat and sales rose 5.6% y/y to $695.5M, beating analyst expectations of $686.7M but guides Q3 GAAP EPS $0.62-$0.70 vs. est. $0.83 and said Famous Footwear sales declined 6.3%, impacted by later Back-to-School and weak lifestyle athletic demand; in jewelry, SIG posted Q2 EPS beat on in-line sales $1.53B while raises FY27 adjusted EPS view to $10.45-$12.1 from $9.20-$11.0 and reaffirms FY27 revenue view $6.7B-$6.9B, vs. consensus $6.84B.
• Online Travel/Lodging sector: BKNG shares fell after the company loses fight against an EU antitrust veto of its €1.63 billion ($1.90 billion) ETraveli acquisition three years ago as the Luxembourg-based General Court agrees with EU competition enforcer. TH shares fell after 14M share Spot Secondary priced at $18.50. Deutsche Bank noted in comment today that August was not a kind month for the vast majority of Lodging and Leisure stocks. Whether due to concerns about rising oil prices, interest rates, unwinding of pair trades, or company-specific factors, there were few Bright spots. The firm identified three Buy-rated stocks that, in its view, deserve a second look as some investors begin to sift through the group and look for opportunities. Those stocks are: TNL, RHP and HST
• AI sector: GOOGL said to invest at least EU13B in AI infrastructure in Finland over the next two years, Also, lots of AI concerns this morning: Axios reported Anthropic AI researcher Jacob Coxon wrote on X, after resigning Tuesday to sound the alarm: “The people building AI earnestly believe that it could kill us all by the end of the decade. This is not a marketing stunt. If anything, many executives and senior researchers will couch their phrasing in the press to sound sensible – but I hear the same people express fear privately. No other human activity poses this level of danger.”

• CSR +9%; as IRT agreed to acquire Centerspace in an all-stock deal valuing the smaller rival at about $1.02 billion, as the real estate investment trust seeks to expand its residential portfolio.
• DELL +4%; hitting all-time highs today as Evercore analyst lays out map to $1,000 per share saying Dell is on a strong growth trajectory driven by Ai adoption and de-commoditization in IT infrastructure. The anticipated rise in neocloud deployments and enterprise Ai adoption presents compelling opportunities for Dell to expand revenue and margins.
• JILL +9%; sees FY26 revenue flat to up 2% Y/y and comp sales down 1% to up 1% Y/y, above prior view of a 1%-3% decline after better earnings results; Posts Q2 adj. EPS and revenue of $1.24 and $154.83M, both beating analysts’ estimates of 57 cents and $151.3M, respectively.
• META +4%; Meta chief Ai officer on X said, “”the early usage on muse has blown way past our projections. muse’s users today are using 10x more than our testing cohorts”
• SIG +19%; posted Q2 EPS beat on in-line sales $1.53B while raises FY27 adjusted EPS view to $10.45-$12.1 from $9.20-$11.0 while also sees annual same-store sales to remain flat or grow up to 2.5%, compared with prior range of 0.75% decline to 2.5% rise.

• BKNG -4%; shares fell after the company loses fight against an EU antitrust veto of its €1.63 billion ($1.90 billion) ETraveli acquisition three years ago as the Luxembourg-based General Court agrees with EU competition enforcer.
• BRZE -16%; as posted Q2 top and bottom line beats, while Gross margin improved even as services scaled, but backlog growth decelerated and missed expectations and guides Q3 EPS $0.13-$0.14 vs. est. $0.16 and revs $229M-$230M vs. consensus $227.8M.
• CASY -16%; posted Q1 EPS/revs beat but comp sales fuel gallons were down -0.3% Y/y (below ests and inside the store, SSS growth was up +3.2% but slightly below expectations of around +3.8%
• EVMN -15%; after the drug maker said it would not advance its experimental skin disease drug after it failed to meet the main goal in a mid-stage trial; its drug, EVO756, did not show a meaningful percent change in a scale that measures the severity of eczema when tested in patients with AD
• INGM -5%; as 13.125M share Spot Secondary priced at $27.25.
• SFD -5%; guided Q3 adjusted 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.
• TBBK -20%; KBW said it sees CHYM’s acquisition of Stride Bank a significant potential impact to as it seems to open the door for Chime to bring its entire banking product suite in house and away from TBBK given Stride’s role as a Chime partner.
• TTAN -31%; reported its thinnest beat as a public company (2.7% versus 3.7%-5.7%) and guided ahead by less than the beat; Q2 results and outlook as mixed, highlighted by lower sub rev growth and impact to usage rev from softness in GTV.
• TYRA -26%; after saying its experimental bladder cancer drug, dabogratinib, at a 60 mg dose shows a 57% three-month complete response rate (compared to recent Piper target of a “70% 3-month CR rate” as the primary “bar for success”