Oil climbed to its highest level since May, with Brent crude topping $108 a barrel in intraday trading as the war with Iran continued to disrupt global supplies. The move intensified inflation worries and pressured the bond market. The 10-year U.S. Treasury yield rose to 4.95% as the three major U.S. stock indexes fell.

U.S. stocks finished lower, with the S&P 500 down 0.58%, the Nasdaq Composite off 0.64% and the Dow Jones Industrial Average falling 0.60%. Brent crude jumped 6% to $107 a barrel and U.S. Treasury yields rose to multiyear highs, reinforcing expectations for a Federal Reserve rate hike next week. Markets also weighed the risk that U.S.-Israeli military action on Iran could disrupt supply routes through the Strait of Hormuz and the Red Sea, adding to energy costs and inflation pressure.

U.S. August producer prices rose and oil costs surged, fueling worries the Federal Reserve could raise interest rates at its meeting next Wednesday. Brent crude climbed 6% to $107 a barrel amid supply disruptions tied to geopolitical conflict, adding to inflation expectations. The 10year Treasury yield rose to multi-year highs, pressuring equity valuations; the S&P 500 fell with Nvidia and Micron leading declines, while Apple gained after unveiling its $1,999 iPhone.

O’Charley’s, a 55-year-old U.S. casual dining chain, has reportedly permanently closed all of its remaining company-operated restaurants nationwide. Parent company Cannae Holdings holds a 65.4% equity interest, and its SEC filings show guest counts fell 23.8% year over year in Q2 2026 while comparable-store sales dropped 13.1%. Comparable-store sales were down 12.8% over the first six months of 2026.

Oil rose to $107 a barrel on Thursday, its first time above that level since May, as bond yields jumped. U.S. wholesale inflation increased 0.4% from June to July and was up 5.4% from a year earlier, reinforcing expectations the Federal Reserve will keep raising rates, with markets pricing about a 75% chance of a hike next week. U.S. stocks fell, with the S&P 500 down 0.6%, the Nasdaq composite down 0.7% and the Dow Jones Industrial Average off 350 points. Yields also moved higher after comments from Trump about giving a $5,000 “dividend” to all U.S. adults.

International gold prices fell more than 1% on Thursday, with spot gold at $4,349.32 an ounce and US gold futures settling at $4,391.30. Hotter inflation signals from the US, alongside rising oil prices, reinforced expectations that the Federal Reserve will keep policy tighter. Traders now see a 70% chance of a Fed rate hike next week, up from 62% before the data, according to the CME FedWatch Tool. Other precious metals also declined, with silver down 4.2%, platinum down 4.9% and palladium down 4.3%.

Chemours, DuPont and Corteva reached a $455m settlement with North Carolina and 11 local entities over claims that PFAS from Chemours’ Fayetteville Works plant contaminated drinking water. The payments will be made over 15 years, and Chemours expects to pay about $50m over the next 12 months. Under a 2021 agreement among the companies, Chemours will cover 50% of the settlement cost while DuPont and Corteva will split the remainder.

LME copper hit a record $14,737 a tonne in September 2026, up nearly 50% over the past year. Expectations of U.S. tariffs, tightening mine supply and sharp swings in global inventories have reshaped the market. The White House has paused a decision on copper import tariffs over concerns about higher costs for manufacturers, but uncertainty around a possible 15% tariff on refined copper under the Trump administration continues to support prices. In India, MCX copper fell nearly 3% on Thursday to around ₹1,378 per kg.