Market News

Market Snapshot Index Close Change % Change S&P 500 7,683.69 -59.72 -0.77% NASDAQ 26,820.38 -248.34 -0.92% DOW 51,481.51 -347.11 -0.67% Russell 2000 2,817.91 -19.64 -0.69% VIX 16.07 +1.20 +8.07% Breaking News & Macro Events Crude Spikes on Hormuz Impasse, Then Gives Most of It Back — CNBC President Trump rejected Iran’s proposal to reopen the Strait of Hormuz over the weekend, and crude gapped higher overnight — November WTI was up 4.1% and November Brent 4.0% before the US open. The move faded through the session: November WTI settled at $92.87 (+0.50%) and November Brent at $105.87 (+1.49%). ...

Overnight Developments Trump Rejects Iran’s Strait of Hormuz Proposal — Al Jazeera President Trump rejected Iran’s latest proposal on Saturday, calling it “not acceptable.” Under the Iranian offer, the US would have released frozen Iranian funds, lifted sanctions, and ended its naval blockade on Iranian ports in exchange for Iran reopening the Strait of Hormuz and returning to nuclear negotiations within a week. With the reopening of the waterway now pushed out indefinitely, crude repriced hard. The move is synchronized across every contract month — November WTI +4.1% to $96.20, December WTI +3.7%, November Brent +4.0% to $108.46 — which rules out a contract-roll artifact and confirms a genuine supply-risk repricing. ...

Overnight Developments Akamai signs $11.6 billion, seven-year cloud infrastructure deal with Anthropic — Yahoo Finance Announced at 4:01 PM ET Thursday, minutes after the close: Akamai will supply Anthropic with cloud infrastructure under $11.6 billion of contractual commitment over seven years, expandable by up to another $9 billion for a total potential commitment of roughly $20 billion. Akamai also issued Anthropic a warrant for non-voting convertible preferred representing 7.7 million shares — about 5% of shares outstanding — at an exercise price of $111.33, struck essentially at Thursday’s $110.41 close. Akamai is indicated +19.3% at $131.66 in pre-market trade. ...

Market Snapshot Index Close Change % Change S&P 500 7,743.41 +39.28 +0.51% NASDAQ 27,068.72 +129.35 +0.48% DOW 51,828.62 +478.64 +0.93% Russell 2000 2,837.55 +1.98 +0.07% VIX 14.87 -0.80 -5.11% A broad but shallow risk-on session. The Dow led on cyclical strength while the Russell 2000 barely budged, and the VIX dropped back into the low 14s — its most relaxed reading in weeks. Breaking News & Macro Events Oil slides as US–Iran talks point toward a Hormuz reopening — Transport Topics Crude snapped a two-day rally on reports that Washington and Tehran are weighing a phased deal that would reopen the Strait of Hormuz and lift the US blockade on Iranian ports. Front-month Brent fell 1.9% and WTI 2.0%, unwinding part of this week’s risk premium. Renewed Houthi strikes on Saudi targets, including Yanbu and Taif, keep the downside capped — this is a de-escalation trade, not a resolution. ...

Overnight Developments Nasdaq futures slide as the bond sell-off carries into Thursday — Yahoo Finance No new shock hit overnight. Instead, Wednesday’s rates scare kept going. The blowout flash PMI (composite 58.4) pushed the 10-year Treasury yield to 5.114% at Wednesday’s close, the highest since 2007, and lifted October rate-hike odds above 70%. Overnight, the dollar rose to a two-month high, and gold fell another ~0.6% on the same rate-hike bets. Nasdaq futures sold off steadily from midnight to about 04:00 ET, and none of the drop came on a single discontinuous jump. They now sit 0.85% below Wednesday’s close, while Dow futures are down only 0.2%. That split is the duration trade again: long-duration tech is getting hit hardest. ...

Market Snapshot Index Close Change % Change S&P 500 7,704.13 -1.90 -0.02% NASDAQ 26,939.37 +3.34 +0.01% DOW 51,349.98 -161.61 -0.31% Russell 2000 2,835.57 -3.09 -0.11% VIX 15.67 +0.49 +3.23% A flat tape that hides a lot of moving parts. The 10-year yield pushed to another post-2007 high and front-month Brent tacked on another 4%, yet the S&P and Nasdaq finished unchanged — a trade truce extension and a well-behaved jobless claims print absorbed the shock. Under the surface it was violently two-sided: Meta closed at a 52-week high, Tempus AI added 7%, and UPS lost nearly 4%. ...

Market Snapshot Index Close Change % Change S&P 500 7,706.03 -58.61 -0.75% NASDAQ 26,936.04 -308.24 -1.13% DOW 51,511.59 -352.10 -0.68% Russell 2000 2,838.66 -51.26 -1.77% VIX 15.18 +0.97 +6.83% Breaking News & Macro Events The Economy Is Booming, So the Market Indexes Fell — The Motley Fool Good news was bad news. S&P Global’s flash composite PMI jumped to 58.4 in September, the highest since July 2021, with new orders at their strongest since March 2022 and input prices spiking to 66.4. Bonds sold off hard: the 10-year yield reached 5.087% intraday (last seen July 2007) and the 5-year crossed 5% for the first time since 2007. Futures now put October rate-hike odds above 73%, up from 55% a day earlier. Rate-sensitive small caps took the brunt, with the Russell 2000 down 1.8%. ...

Overnight Developments Iran offers to reopen Strait of Hormuz within seven days if US eases military pressure — Kyodo News (via SBS) A senior Iranian government official told Kyodo that Tehran has proposed, through a mediator, to reopen the Strait of Hormuz within a week if Washington takes initial steps to reduce military pressure — specifically moving toward ending the blockade of Iranian ports and halting operations around the strait. The stated goal is to revive stalled end-of-war negotiations. The same official ruled out a Pezeshkian–Trump meeting on the sidelines of this week’s UN General Assembly, so a quick handshake is off the table. No US response yet. ...

Market Snapshot Index Close Change % Change S&P 500 7,764.64 -0.06 -0.00% NASDAQ 27,244.28 +122.18 +0.45% DOW 51,863.69 -185.14 -0.36% Russell 2000 2,889.92 +14.56 +0.51% VIX 14.21 -0.66 -4.44% Breaking News & Macro Events Dow slips, Nasdaq drifts higher as oil falls, AI trade powers market — Yahoo Finance The S&P 500 finished dead flat while the Nasdaq posted a second straight record close and the Dow slipped 0.36%, extending a divergence that has opened up between the blue-chip index and the rest of the market over recent sessions. Crude drove the tape again. Iran told Kyodo News it would reopen the Strait of Hormuz within seven days if Washington takes initial steps to ease military pressure, and November WTI fell about 3% within an hour of the report around 04:00 ET. The round trip came at midday. In his UN General Assembly address, Trump said “we’ll make a deal right after the election,” pushing a settlement past November’s midterms, and Brent climbed back to about $100 before fading into the close. He also said he would support banning US diesel exports, and Treasury Secretary Bessent said he is studying whether that is feasible, with pump diesel already at a record $6.52 a gallon. ...

Overnight Developments A broad, synchronized risk-on move across every major region. Three drivers, in order of weight: Oil retreats below $100 on Hormuz supply recovery — Yahoo Finance Front-month WTI is down ~3.2% to $92.98, extending a multi-day slide as shipping through the Strait of Hormuz picks up and diplomatic prospects improve. Falling crude is the cleanest inflation-relief signal available right now, and it is doing the heavy lifting for equities. Affected sectors: Energy (negative), Tech, Consumer, Financials (positive) ...