Sep 2, 2026 · 10 min

Oil and yields put tech earnings under pressure

Mulling Tech Earnings, Investors Watch Oil, Yields

The episode frames whether higher energy costs, bond yields, geopolitical risk, and labor data could extend the technology sell-off.

3 key takeaways

1Rising oil prices and global bond yields are weighing on technology stocks after fresh U.S. strikes on Iran.
2Investors are parsing Dell and Palo Alto Networks results while awaiting Broadcom’s earnings report.
3Upcoming U.S. jobs data could reshape expectations for markets already sensitive to interest rates and growth signals.

Don't miss

The preview ties the technology sell-off to the simultaneous pressure from rising oil, higher yields, geopolitical risk, and pending jobs data.

The brief

The market opens under pressure as rising crude prices and global yields challenge technology stocks after fresh U.S. strikes on Iran.

Investors are weighing Dell and Palo Alto Networks earnings while Broadcom’s results loom as a major test for the sector.

The episode places the earnings watch inside a broader macro backdrop, where higher yields can pressure valuations and oil can intensify inflation concerns.

Upcoming U.S. jobs data could determine whether the market’s next move is driven more by growth expectations or renewed rate pressure.

What was said on this episode

16 statements · 8 positive · 7 negative · 1 neutral

Keith Lansfordon Macro repricingNeutral1:07
Macro repricing, rather than individual stocks, is driving current market conditions.
“Macro repricing is the main story.”
Listen at 1:07
Keith Lansfordon Oil and Treasury yieldsNegative1:14
Rising oil and yields tighten financial conditions and pressure valuations.
“oil and yields moving higher together, tightening financial conditions and pressuring valuations after a strong August.”
Listen at 1:14
Keith Lansfordon Market outlookNegative1:29
Markets will likely remain defensive unless crude oil or yields stabilize.
“The market outlook remains cautious, with near-term bias likely to stay defensive unless crude or yields stabilize.”
Listen at 1:29
Keith Lansfordon 10-year Treasury yieldNegative1:38
Higher Treasury yields raise discount rates and weigh on long-duration growth stocks.
“the rise to near 4.8% is doing the Fed's work for it by raising discount rates and weighing the most on long-duration growth and mega-cap areas like technology.”
Listen at 1:38
Keith Lansfordon Treasury yields and equity multiplesNegative1:48
Further yield increases may cause investors to demand lower valuation multiples.
“If yields keep rising, investors might demand lower multiples even if earnings expectations remain intact.”
Listen at 1:48
Keith Lansfordon ECBNegative2:09
Eurozone inflation reinforced expectations of a possible European Central Bank rate increase.
“analysts expecting a hike, and Eurozone August annual inflation growth of 3.3% reinforced ideas that the European Central Bank might raise rates when it meets next week.”
Listen at 2:09
Keith Lansfordon Oil prices and global debtNegative2:34
Higher oil prices and global debt increase the odds of rate hikes.
“Rising oil, which hit $90 per barrel Tuesday, and heavy global debt both drive rate hike odds.”
Listen at 2:34
Keith Lansfordon Dell earningsPositive4:32
Dell earnings exceeded expectations, prompting an almost 10% post-market share rise.
“Dell climbed almost 10% in initial post-market reaction to earnings that topped expectations.”
Listen at 4:32
Keith Lansfordon Palo Alto Networks earningsPositive4:38
Palo Alto Networks reported strong earnings, and its shares rose 3.5%.
“Palo Alto climbed 3.5% on strong earnings.”
Listen at 4:38
Keith Lansfordon Dell and Palo Alto Networks guidancePositive4:41
Dell and Palo Alto Networks exceeded consensus guidance.
“Both firms also surpassed consensus on guidance.”
Listen at 4:41
Keith Lansfordon Broadcom earnings and AI demandPositive5:22
Broadcom results resembling NVIDIA’s could reduce concerns about AI demand growth.
“A follow-up from Broadcom that mirrors those NVIDIA games might ease some remaining concern about AI demand growth.”
Listen at 5:22
Keith Lansfordon S&P 500Positive6:10
The S&P 500 remained above technical support near 7,620.
“The S&P 500 index had a constructive finish by staying above technical support near 7,620”
Listen at 6:10
Keith Lansfordon S&P 500 market breadthNegative6:50
Only 46% of S&P 500 stocks traded above their 50-day averages, down from over 70%.
“only 46% of S&P 500 stocks trade above their 50-day moving averages, down from more than 70% at the August highs.”
Listen at 6:50
Keith Lansfordon MedtronicPositive7:07
Medtronic beat quarterly earnings and revenue estimates and raised fiscal 2027 guidance.
“Medtronic added around 1.5% after topping analysts' quarterly earnings and revenue estimates and raising fiscal 2027 guidance.”
Listen at 7:07
Keith Lansfordon Novartis oral multiple sclerosis drugPositive7:28
Positive late-stage trial results supported Novartis shares and its oral multiple sclerosis drug.
“Novartis climbed 6% on positive late-stage trial results for its oral multiple sclerosis drug.”
Listen at 7:28
Keith Lansfordon Apple Inc.Positive8:12
Apple’s market capitalization increased 1,000% during Tim Cook’s tenure as CEO.
“The company's market capitalization rose 1,000% under Cook”
Listen at 8:12

Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.