A man suffered stab wounds while another man was also injured during the disorder in Attwood Street.
Police were called to the scene just after 4.20pm on Friday, November 11.
They found a 21-year-old with leg injuries and a 27-year-old with stab wounds.
Both men were arrested and police are urging anyone with information to come forward.
A spokesman for West Midlands Police said: "We're investigating following disorder in Attwood Street, Lye, at just after 4.20pm on Friday.
"A 21-year-old man suffered leg injuries and a 27-year-old man sustained stab wounds.
"Their injuries are not believed to be life-threatening.
"Anyone with information is asked to contact us via live chat on our website and quote log 2886 of November 11."