Update: Wall Street Snaps 3-Day Losing Streak as Yields Edge Down

04:33 PM EDT, 09/02/2026 (MT Newswires) -- (Updates with market moves at the end of the day, and other changes, if any.) US equities rebounded Wednesday following a three-day fall, as Treasury yields edged lower after climbing to multiyear highs. The Dow Jones Industrial Average gained 0.6% to close at 53,061.95. The S&P 500 and the Nasdaq Composite rose 0.5% each to 7,666.60 and 26,217.83, respectively. Except real estate, all sectors were in the green, led by materials. Treasury yields were lower, with the two-year yield down 2.3 basis points at 4.37% and the 10-year yield falling 1.6 basis points to 4.78%. Earlier on Wednesday, the 10-year rate hit 4.818%, its highest level since November 2023, CNBC reported. "While easing slightly after hitting multi-year peaks, yields remain elevated," Stifel said in a note on Wednesday. Iran has expanded the number of vessels it says must not sail through the Strait of Hormuz, Reuters reported Wednesday. The US Central Command said Tuesday that its forces completed a wave of strikes against Iranian military targets. Iran reportedly launched retaliatory attacks on Kuwait, Jordan and Bahrain. West Texas Intermediate crude oil was up 0.6% at $90.75 a barrel in Wednesday late-afternoon trade, while Brent advanced 0.8% to $95.37. Both benchmarks were off the day's peaks. In company news, shares of Dell Technologies (DELL) surged nearly 16%, the best performer on the S&P 500, after the company's fiscal second-quarter results beat Wall Street's estimates. Dell's latest results and guidance indicated "broad-based strength," though there are concerns that artificial intelligence-driven compute and storage growth may decelerate sharply in fiscal 2028 or 2029 amid rising prices, UBS Securities said in a note. Palo Alto Networks (PANW) slumped 9.3%, the steepest decline on the S&P 500, as the cybersecurity firm's fiscal fourth-quarter adjusted gross margin declined year over year. Brown-Forman (BF.A, BF.B) reiterated its guidance for fiscal 2027 organic sales on Wednesday as it flagged continuing consumer headwinds that drove weaker-than-expected first-quarter top-line. The company's class A and B shares were up 3.4% and 3.9%, respectively. In economic news, US private sector employment grew at its slowest pace in seven months in August, ADP (ADP) data showed, ahead of the official jobs report due on Friday. Data from the Bureau of Labor Statistics are likely to show Friday that the US economy added 55,000 nonfarm jobs last month, compared with a drop of 23,000 for July, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.1%. Spot gold rose 1.4% to $4,388.30 per troy ounce, while silver advanced 0.8% to $65.92 per ounce.