LIVE MARKETS-Wall Street wraps up first week of fall with Friday-to-Friday gains

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

WALL STREET WRAPS UP FIRST WEEK OF FALL WITH FRIDAY-TO-FRIDAY GAINS

US stocks crossed Friday's finish line to the end of the week in positive territory as falling oil prices greased the track for a tech-led rally.

All three major US stock indexes advanced on the day, punctuating a week marked by AI doomsaying, the Trump-Xi summit, the UN General Assembly, surging Treasury yields and resurgent inflation jitters.

After all that, all three indexes managed to post gains on the week.

Long-dated US Treasury yields resumed their uphill climb, with the 10-year yield US10YT=RR touching a 19-year high, while the 30-year bond yield reached its loftiest level in 22 years. Both eased off session highs by the closing bell.

Crude prices fell amid growing optimism that the US and Iran could reach a truce that would allow tanker traffic to resume through the Strait of Hormuz, even as Houthi attacks on Saudi targets threatened to derail negotiations.

Front-month WTI CLc1 and Brent crude settled down 2.3% and 2.1%, respectively.

At a sector level, aside from tech .SPLRCT, the outperformers included airlines .SPCOMAIR and travel/leisure stocks .SPCOMHOTL, while energy .SPNY and communication services .SPLRCL lagged behind.

In economics, the Commerce Department reported stronger-than-expected new orders for core capital goods, signaling robust corporate capex plans and bolstering the Fed's case that the US economy is sturdy enough to withstand tighter monetary policy while the central bank endeavors to lure inflation back down to its 2% target.

Financial markets are currently baking in a 66.4% likelihood that Warsh & Co will implement its second consecutive interest rate hike. Just one month ago, the probability of an October rate hike was set at 9.7%, according to CME's FedWatch tool.

Next week a smattering of labor market data, including JOLTS, ADP and Challenger layoffs, will lead up to the September employment report on Friday, which is expected to show the US economy added 100,000 jobs this month and an uptick in the unemployment rate to 4.2%.

Other economic reports on deck next week include home prices, consumer confidence, manufacturing PMI, construction spending, and the Commerce Department's double-whammy: a final take on Q2 GDP and the August PCE report, which includes the Fed's pet inflation yardstick.

Here's your closing snapshot:

(Stephen Culp)

*****

EARLIER ON LIVE MARKETS:

BUYBACK PLANS ARE SLOWING BUT 2026 MAY STILL BE A RECORD CLICK HERE

CONSUMERS STAY STRONG, BUT A BEAR MARKET COULD CHANGE THAT CLICK HERE

INVESTORS GROW LESS BEARISH, BUT SKEPTICISM REMAINS HIGH — AAII CLICK HERE

FRIDAY DATA: CORE CAP ORDERS JUMP, SEPTEMBER CONSUMER SENTIMENT UPWARDLY REVISED CLICK HERE

US STOCKS POST EARLY GAINS ON OIL DIP; TREASURY YIELDS REMAIN ELEVATED CLICK HERE

MEGA-CAPS RECLAIM MARKET LEADERSHIP CLICK HERE

UNTIL THE AI WAVE CRASHES CLICK HERE

STOCKS AREN'T SCARED OF THE BIG, BAD BOND MARKET CLICK HERE

EQUITIES NEARING 'BOILING POINT' CLICK HERE

STOXX HEADING FOR POSITIVE WEEK CLICK HERE

EUROPE BEFORE THE BELL: FUTURES HIGHER, OIL EBBS CLICK HERE

WHEN TREASURIES CATCH KOREA'S VOLATILITY BUG, TAKE COVER CLICK HERE

( )