Wall Street ends week higher despite record diesel prices and rising yields
Stocks finished the week with gains even as oil prices and bond yields continued to climb. The Dow added 146 points, while the S&P 500 and Nasdaq also rose. Diesel reached a record $6.52 per gallon, and the Trump administration's proposed export ban unsettled energy markets.
Diesel reached a record $6.52 per gallon, prompting the Trump administration to threaten an export ban. That prospect rattled energy traders, while Brent crude ended the week near $104 after dipping on ceasefire and Strait of Hormuz reopening rumors.
Bond yields climbed back above 5% and settled around 5.1%. Higher borrowing costs weighed on real estate, yet August new home sales hit 684,000—6.4% above July but 2% below the prior August. The Dow gained 146 points weekly, with the S&P 500 up 93 and Nasdaq up 546.
Record diesel prices and rising bond yields could keep pressure on inflation and borrowing costs, affecting homebuyers, builders, and businesses. A diesel export ban may unsettle global fuel markets, potentially raising gasoline prices and straining refiners. Investors, meanwhile, may remain focused on whether energy and yield pressures eventually undermine the stock gains seen this week.