Today’s Top Stories: Yields, Oil, Dell, Robinhood, and Apple’s New CEO Shake Wall Street
TLDR
- U.S. Treasury yields hit 4.77%, dragging tech stocks lower across the S&P 500 and Nasdaq
- Oil jumped 2% on U.S.-Iran tensions, pushing Brent crude above $92 per barrel
- Dell Technologies reports earnings with a $51.3 billion AI server backlog and 250% stock gain in 2026
- Morgan Stanley upgraded Robinhood to Overweight with a new $150 price target, implying 43% upside
- John Ternus replaced Tim Cook as Apple CEO, with Cook staying on as executive chairman
Wall Street kicked off September in the red on Tuesday. Rising Treasury yields, surging oil prices, a major earnings report, a big analyst upgrade, and a historic leadership change all hit the tape on the same day.
Treasury Yields Push Stocks Lower
The 10-year Treasury yield climbed to around 4.77% on Tuesday. Higher yields push up borrowing costs and make government bonds more attractive compared to stocks.
The Nasdaq fell around 0.7% and the S&P 500 dropped roughly 0.4% by late morning. Semiconductor stocks including Nvidia, Intel, and AMD all traded lower.
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