US stocks fall after manufacturing data as oil climbs

As per the latest business developments, A surge in crude prices sent stocks softer, with the market extending losses in the aftermath of a weaker-than-anticipated manufacturing report.

The S&P 500 eased after the gauge’s worst month since June. Benchmark 10-year yields hit the highest since 2002. Brent crude hovered near $100 a barrel. The dollar rose for a fourth straight day.

The Institute for Supply Management’s manufacturing gauge declined 0.1 point to 54.5, according to data released Thursday. Factory activity has been in expansionary territory — or over 50 — for nine consecutive months, the longest stretch since 2022.

Meantime, The US central bank Bank of Minneapolis President Neel Kashkari stated he doesn’t know how high interest rates will have to go to cool prices, adding it’s the central bank’s job to tame inflation after five years of supply shocks.

“We will do what we need to do to get inflation back down to our target,” Kashkari stated Thursday during an interview on Bloomberg Television. “Now, the question is ultimately how high” rates have to go, he stated. “I don’t know the answer to that.” Corporate Highlights:

Micron Technology Inc. gave an upbeat forecast for the current quarter, fueled by the AI building frenzy, though the chipmaker warned that rising compensation would weigh on earnings margins. Broadcom Inc. has agreed to lend Anthropic PBC as much as $42 billion to lease its chips, according to Reuters, an arrangement that could add to concerns around circular dealmaking between the key players in the artificial-intelligence boom. Amazon.com Inc. has agreed to purchase 690 megawatts of power from Constellation Energy Corp. in a deal that will help the biggest US nuclear operator lift capacity at the only reactors in Maryland. Accenture Plc, the technology consulting firm that’s under pressure to show it can help clients adopt artificial intelligence and can undergo such a transition itself, noted that it booked more business in the fourth quarter than market watchers had anticipated. Tencent Holdings Ltd. agreed to lease advanced AI chips from Oracle Corp. in Southeast Asia in the Chinese firm’s biggest such deal yet, the Financial Times noted. Taiwan Semiconductor Manufacturing Co. is weighing a new campus in Texas that would add tens of billions of dollars in new investment to the firm’s multiyear expansion into chipmaking in the US. Some of the main moves in markets:

The S&P 500 declined 0.3% as of 10:04 a.m. New York time The Nasdaq 100 declined 0.1% The Dow Jones Industrial Average declined 0.5% The Stoxx Europe 600 declined 1.2% The MSCI World Index declined 0.5% Currencies

The Bloomberg Dollar Spot Index rose 0.3% The euro declined 0.4% to $1.1289 The British pound declined 0.3% to $1.3228 The Japanese yen declined 0.4% to 158.05 per dollar Cryptocurrencies

Bitcoin rose 0.2% to $83,753.38 Ether rose 0.3% to $2,688.48 Bonds

The yield on 10-year Treasuries advanced five basis points to 5.33% Germany’s 10-year yield was little changed at 3.58% Britain’s 10-year yield advanced five basis points to 5.47% The yield on 2-year Treasuries declined one basis point to 4.88% The yield on 30-year Treasuries advanced five basis points to 5.68% Commodities

West Texas Intermediate crude rose 1.4% to $91.65 a barrel Spot gold was little changed ©2026 Bloomberg L.P.