Business
U.S. stocks ended modestly higher Wednesday as long-term Treasury yields fell sharply. The S&P 500 rose 16.22 points, or 0.21%, to 7,707.98, ending a three-session losing streak. The Dow Jones Industrial Average gained 119.65 points, or 0.22%, to close at 53,463.05. The Nasdaq Composite added 41.38 points, or 0.16%, finishing at 26,331.09. Falling government bond yields helped major indexes recover after several sessions of pressure from rising borrowing costs. Bond prices climbed after the U.S. Treasury Department announced larger liquidity support buybacks for longer-dated government debt. Starting September 9, the maximum purchase size will increase from $2 billion to at least $4 billion per operation. The change covers nominal coupon securities in the 10-to-20-year and 20-to-30-year maturity sectors. The increased amounts will remain in effect through November 4. The department said strong volumes of high-quality offers supported the decision to increase liquidity operations in those sectors. Treasury yields moved lower following the announcement, reversing part of a recent rise in long-term borrowing costs. The 10-year Treasury yield fell to about 4.65%, while the 30-year yield declined to about 5.20%. Bond yields move inversely to prices, so stronger demand for government debt pushed yields lower. The retreat eased pressure that had accompanied
Eco-friendly vehicles provided the strongest lift to South Korea’s auto exports during the month. Their export value increased 25.5% from a year earlier to US$2.59 billion. Electric and hydrogen vehicle exports rose 31.9% to US$940 million. Hybrid exports advanced 22.2% to US$1.65 billion. By contrast, exports of internal combustion engine vehicles fell 3.1% to US$3.65 billion. Eco-friendly models accounted for about 41.5% of the country’s total automobile export value in July.
Diesel prices remained elevated on Wednesday as tighter refined-product supplies kept pressure on fuel markets in the United States and Europe. U.S. ultra-low sulfur diesel futures jumped 7.4% on Monday to settle at $4.19 a gallon. That marked the contract’s biggest daily gain since July 13. Early Wednesday trading put the contract near $4.28 a gallon, while European diesel refining margins remained at historically high levels after rising nearly 10% on Monday.
Under the terms of the revised agreement, the main satellite constellation will grow from 282 planned orbital units to 348 active spacecraft. The expanded network architecture integrates 330 satellites positioned in higher low Earth orbit alongside 18 spacecraft deployed in medium Earth orbit, with optional orbital elements reserved for specialized mission support. The implementation agreement confirms the definitive timeline for satellite manufacturing, launch procurement, secure ground segment construction, and operational connectivity service delivery. The primary constellation schedule establishes initial satellite launches for 2029, enabling early sovereign connectivity capabilities for participating member states shortly thereafter.
The decision to enlarge the satellite constellation directly addresses heightened security demands and evolving defense operational requirements across Europe. Under the updated design, the baseline satellite hardware receives technical enhancements, while an additional layer of 66 low Earth orbit spacecraft is integrated specifically for defense forces, national security agencies, and emergency response units. Official technical assessments indicate that this architectural expansion will increase secure governmental communication capacity by 60 percent within European Union territory and by 54 percent globally, expanding regional capabilities during complex emergency operations and critical infrastructure crises.
The latest slide followed a sharp Tuesday retreat that exceeded the 4% decline reported earlier in the session. Brent settled 5.3% lower at $79.36 a barrel, its first close below $80 since July 13. WTI settled 5.7% lower at $75.77. Both contracts reached their lowest closing levels in three weeks. The Tuesday losses extended Monday’s drop, when Brent fell 7% and WTI declined 5.1%.
Headline inflation across OECD economies eased to 4.2% in June 2026 from 4.6% in May, ending three straight monthly increases. The measure tracks annual changes in consumer prices across the group’s member countries. Inflation declined in 20 economies, increased in six and remained stable or broadly stable in 12. Nine OECD countries recorded inflation at or below 2%, including three where the rate stood below 1%. Energy prices drove much of the monthly easing. OECD energy inflation fell four percentage points to 11.7% year on year, after reaching 15.8% in May. The rate declined in 24 of the 37 countries with available data. However, energy inflation increased in 10 economies, while six countries still reported rates above 15%. The broad retreat lowered headline inflation, although energy remained a major source of annual price growth.