U.S. stocks ended mixed on Thursday, September 24, 2026, as the S&P 500 and Dow Jones Industrial Average slipped while the Nasdaq Composite eked out a modest gain. Treasury yields pushed to fresh 19-year highs after two Federal Reserve officials signaled that another rate hike remains likely before year-end, while a stronger-than-expected weekly jobless claims report reinforced the case for continued tightening. Oil prices swung sharply on renewed Middle East supply concerns, and gold extended its recent slide as a stronger dollar added to the pressure.

Wall Street Diverges as Treasury Yields Hit 19-Year High

The S&P 500 fell 1.90 points, or 0.1%, to close at 7,704.13. The Dow Jones Industrial Average dropped 161.61 points, or 0.3%, to 51,349.98, while the Nasdaq Composite edged up 3.34 points, or 0.1%, to 26,939.37, helped by resilience in select technology names even as Nvidia slipped 0.4%. The moves came as the 10-year Treasury yield climbed to 5.20% from 5.11% a day earlier, its highest level since 2007, keeping pressure on rate-sensitive sectors and pushing borrowing costs to levels not seen in nearly two decades.

Fed Officials Signal More Tightening Ahead

New York Fed President John Williams said Thursday it would be reasonable to expect another interest rate hike by the end of the year, citing investor sentiment aligned with further tightening. Philadelphia Fed President Anna Paulson echoed the message, saying underlying inflation has not shown clear signs of cooling and that some modest further tightening may be warranted, even as tariff-related price pressures have eased, noting that pressures from the Middle East conflict and the artificial-intelligence buildout have increased. Separately, the Labor Department reported initial jobless claims fell to 197,000 for the week ended September 19, near historic lows and below the 201,000 consensus forecast.

Stitch Fix Tumbles on Cautious Guidance, Darden Slips Despite In-Line Results

Stitch Fix shares plunged after the online styling retailer posted a narrower-than-expected quarterly loss of 1 cent per share against a forecast 6-cent loss, though revenue of $324.4 million came in just below the $325 million estimate. The stock fell sharply after management guided fiscal 2027 revenue to a range of $1.31 billion to $1.36 billion, implying results from a 2.8% decline to a 0.9% increase, citing a more challenging consumer environment. Darden Restaurants reported first-quarter sales up 5.1% to $3.2 billion and earnings of $2.05 per share, in line with estimates, with LongHorn Steakhouse comparable sales up 6.2%, though shares dipped modestly.

Oil Swings on Middle East Tensions, Gold Extends Decline

Brent crude settled at $100.22 a barrel, up 2.1%, after a volatile session that saw prices swing between roughly $99 and $102 amid stalled talks between the United States and Iran over reopening the Strait of Hormuz. Gold fell as a rising dollar index, elevated Treasury yields and hawkish Fed commentary weighed on the metal, with December futures dropping from an early high near $4,324 an ounce to trade around $4,293, extending a decline from the prior session as investors priced in the likelihood of further Fed tightening into year-end.

Daily market analysis by BCM Markets.