By Heard on the Street Staff

This is an edition of the Markets P.M. newsletter, a recap of the day's most important markets moves, delivered after the closing bell. If you're not subscribed, sign up here.

What Happened in Markets Today

Apple introduced its first foldable iPhone at an event on Wednesday. The pricing will start at $1,999. The new product was introduced by John Ternus, who took over as Apple's CEO last week. The company also increased iPhone prices to make up for the rising cost of memory and storage chips. Apple's shares edged down 0.3%, faring better than the market.

Treasury yields rose after the Treasury Department said on Thursday it would buy up to $6 billion of long-dated government bonds, less than some investors might have expected. The 10-year yield rose 0.03 percentage point to 4.836%, the highest in nearly three years. Higher oil prices could also be contributing to the rise in yields. Brent crude futures surpassed $101 a barrel after the U.S. attacked Iranian oil tankers.

Shares of Casey's General Stores plunged 14% after the pizza-selling convenience store giant reported same-store sales growth that fell slightly below Wall Street expectations. Expectations may have been running high, with the shares trading at 33 forward earnings before the report. Shares of freshly IPO'd Jersey Mike's Subs rose 7.5% after its first earnings report.

Stocks fell, with the S&P 500 down 0.5% and the Dow declining 0.8%, or 405 points. The Nasdaq shed 0.6%.

Markets at a Glance

One Big Story

An Anthropic researcher who specializes in training new AI models quit over fears that the lab and its competitors are racing to build systems they won't be able to control. Several researchers have left OpenAI and other companies citing similar worries.

What's Coming Up

The latest readings on initial jobless claims, existing home sales and the producer price index are expected on Thursday.

Oracle and Adobe are scheduled to report earnings on Thursday after market close.

Be prepared for the trading day ahead-sign up for Markets A.M.

About Us

Markets P.M. catches you up on the day's most important markets moves, delivered after the closing bell. This email was written by Jinjoo Lee, a writer for Heard on the Street, The Wall Street Journal's home for financial analysis and commentary. To send us your feedback, reply to this email. Got a tip for us? Here's how to submit.

(END) Dow Jones Newswires

September 09, 2026 16:25 ET (20:25 GMT)