Market Highlights

A selloff in chipmakers left stocks wavering ahead of the earnings season, with traders also gearing up for this week’s inflation data that will be key in shaping the Federal Reserve outlook. The group of chip giants posted its longest retreat since July, weighing on the S&P 500 despite gains in most of its firms.While trading volume in US equities was the lowest in 2026, the stock benchmark remained near a record as bets on solid corporate results defied elevated oil prices and bond yields. Treasury futures fluctuated,with the cash market closed for Columbus Day Global stock losses deepened as renewed concerns about the artificial intelligence trade pushed investors out of one of the market’s hottest corners this year. Treasuries rallied on haven demand.

Wall Street traders betting on a solid earnings season sent stocks to a striking distance of their all-time highs, defying concerns about still-elevated energy costs and bond yields. Most companies in the S&P 500 rose, though a gauge of chipmakers fell again. Brent crude settled near $105 a barrel as the prospect of a wave of Russian diesel hitting global markets competed with mounting supply risks. Treasury cash trading will be closed Monday for Columbus Day. The dollar notched its longest weekly advance since early 2025. US stock futures rose modestly as traders weighed the prospect of solid results in a busy week for corporate earnings against the risk of escalating tensions in the Middle East.

A selloff in chipmakers weighed on stocks as speculation around OpenAI’s revenue revived worries that the artificial - intelligence spending spree is becoming harder to justify . Tech shares led losses in the S&P 500 on reports that annualized revenue at the ChatGPT maker will be lower than some estimates for the firm . The Nasdaq 100 fell 1.4%. A gauge of chip giants sank 3.4%. Oil jumped, but settled below session highs as President Donald Trump said the US won’t attack Iran before the midterm elections . Treasuries rose on a solid sale of 30 - year bonds .

A record-breaking run in stocks hit a wall as still-elevated oil prices stoked concerns that potential inflationary pressures could trigger Federal Reserve interest-rate hikes. Those worries sent the S&P 500 down from an all-time high. Brent crude settled around $100 as traders weighed a pickup in Iranian attacks on vessels in the Strait of Hormuz against resilient flows from the Middle East. Ten-year Treasuries bounced from session lows after a solid $39 billion sale, but yields remained near the highest since 2002. Bitcoin fell. A global stock rally that brought equities within striking distance of an all-time high lost further ground as oil jumped on renewed Middle East tensions, stoking concerns about inflation. Treasuries declined.

Wall Street traders drove stocks to all-time highs on growing bets that Corporate America will be able to weather the threats from still-elevated energy costs and interest rates. Just a week ahead of the earnings season, the S&P 500 notched its firstrecord since August. An advance in artificial intelligence-related shares also buoyed sentiment, with Nvidia Corp.’s market value approaching $6 trillion. Advanced Micro Devices Inc.’s Lisa Su predicted “very high” chip demand over the next few years. Treasury 10-year yields fell from the highest since 2002. Asian stocks slipped, in contrast to Wall Street’s record-setting rally, as enthusiasm over the corporate earnings outlook failed to carry over to the region. Treasuries fell as oil climbed.

Some of the world’s biggest technology stocks pushed the S&P 500 closer to a record as investors sought cover from mounting bond-market and political worries in familiar artificial intelligence plays. The S&P 500 rose 0.7% in New York with Nvidia Corp. and Microsoft Corp. driving the bulk of Monday’s gains even as 10-year Treasury yields spiked to the highest in more than two decades. The broader stock gauge has gained roughly 14% since the beginning of the year. Materials, communication services and health care all advanced. The Nasdaq 100 climbed 0.9%, closing at an all-time high for the second consecutive session. Global stocks edged toward record highs as investors shrugged off concerns about elevated oil prices and bond yields near multi-decade highs.

A slowdown in the US jobs market drove stocks higher on speculation the Federal Reserve won’t be forced to lift rates any time soon. Those bets fueled the appetite for riskier corners of the market, with the S&P 500 up 0.7%. The Nasdaq 100 rose to a record. While bonds erased earlier gains, money markets see a less than 25% chance of an October Fed hike. A drop in fuel prices also helped sentiment as the Group of Seven nations signaled they would release emergency supplies of diesel and crude. Stocks drifted as investors showed little appetite for risk, with Europe’s political upheaval and fiscal strains the main focus and the euro falling to a 17-month low against the dollar.

Risks spanning credit markets, elevated commodity prices and French political turmoil boosted demand for safer government bonds, snapping a prolonged decline fueled by persistent inflation concerns . A Bloomberg gauge of the dollar headed for a third weekly gain , the longest winning run since January 2025 . European bonds, though, remained under pressure as concerns around France’s fiscal and political situation pushed euro - area risk premiums higher .

A fresh bout of volatility gripped Wall Street in the last hour of trading, with stocks erasing gains that were earlier fueled by slower-than-anticipated inflation data. The S&P 500 saw its worst month since June. Short-dated Treasury yields barely budged while those on 30-year bonds remained at the highest since 2002. Money markets now see a less than a 40% chance of a Federal Reserve rate hike in October. The dollar wavered. Oil held near $100. In late hours, Micron Technology Inc. a gave solid outlook. US stock-index futures rose along with Asian technology shares as Micron Technology Inc.’s upbeat forecast lifted the sector. Treasuries held losses, while the dollar strengthened.

A standoff between the US and Iran spurred oil-market volatility, dragging down stocks and bonds on concerns that potential inflationary pressures could trigger Federal Reserve rate hikes. While Brent crude pared its rally, it remained around $105 on fading optimism for an imminent diplomatic breakthrough in the Middle East conflict. The S&P 500 wiped out this month’s advance while the tech-heavy Nasdaq 100 lost 1.1%. Treasury 10-year yields hit a nearly two- decade high. Money markets boosted bets on an October Fed increase. The dollar rose. Gold dipped. Global equities slid to a one-week low as surging oil prices and mounting bets on further Federal Reserve interest-rate hikes drove Treasury yields to multi-year highs.