More economic data has entered the ring today as well
Crude's surge to triple digits is pushing markets lower this afternoon, while investors also digest a round of fresh economic data. The producer price index (PPI) matched estimates with a 0.4% month-on-month growth, while the year-over-year reading came in at 5.4%. Neither reading helped ease rate-hike concerns. Meanwhile, existing home sales fell 2% in August from July to 3.98 million units, the slowest pace since June 2025.
The Dow Jones Industrial Average (DJI) is off triple digits, while the Nasdaq Composite Index (IXIC) and S&P 500 Index (SPX) are modestly lower as well. Bond yields remain in focus as well, after the 10-year note hit 4.9%, its highest mark in three years.
Continue reading for more on today's market, including:
Carrier Global Corp (NYSE:CARR) is trading 2% lower at $56.74 this afternoon, heading for its third-straight drop after being rejected at the $60 ceiling. Options traders are chiming in, with 25,000 puts exchanged so far today. This is 16 times the average intraday rate, with the weekly 9/25 56-strike put and weekly 10/30 52-strike puts seeing the most attention.
Ford Motor Co (NYSE:F) is one of the best stocks on the New York Stock Exchange (NYSE) this afternoon, up 3.3% at $13.90, after the company pushed back against claims it has ties to Chinese firms. F remains in a consolidation zone near $14, though it looks to be testing the 120-day moving average. Ford Motor stock is 6% higher in 2026.
Pacing the losers of the NYSE, retailer American Eagle Outfitters (NYSE:AEO) is down 14.7% at $14.40, sliding after the company reported a disappointing quarterly growth outlook. This once again overshadowed a revenue beat, with added pressure from three analysts that slashed their price targets, including Morgan Stanley to $17. AEO has shed 45% this calendar year and is now eyeing its worst daily drop since April 2025.