Last updated: September 29, 2026, 10:02 PM ET
Equities & Macro
U.S. stocks pared losses but remained lower after New York Fed President John Williams signaled patience on rate cuts, while a worrying monthly survey of consumer confidence sank to a four-year low. Asian equities were set for broad gains on Wednesday as oil prices fell, easing inflation concerns across the region. The WSJ Dollar Index rose 0.11% to 96.96, extending its advance for a second consecutive trading session.
Fixed Income
Long-term Treasury yields pushed to fresh highs, with the 30-year bond touching a 24-year peak despite a drop in oil prices and dovish Fed commentary. Two-year yields fell as traders priced in greater patience from policymakers. The buyers' strike in short-term debt expanded, reflecting persistent unease over fiscal supply and liquidity conditions.
Energy & Commodities
Oil steadied after its biggest weekly drop in more than a week as Middle East exports neared pre-war levels, with more tankers moving through the Strait of Hormuz as shippers gained confidence. OPEC+ delegates indicated the alliance will likely hold steady quotas at its upcoming meeting. Natural gas futures inched back toward $3 per million British thermal units on mild weather forecasts. Comex gold settled 0.27% higher at $4,147.70 an ounce, while silver settled lower.
M&A & Corporate Finance
Paramount Skydance Corp. is pitching $6 billion of cost savings within three years to contain leverage ahead of its Warner Bros. Discovery deal, even as the $110 billion buyout boosts borrowing costs. Paramount's streaming chief Cindy Holland departed, clearing the way for HBO chairman Casey Bloys to oversee the combined entity. Tesla has lined up $30 billion of new loans and credit lines as capital spending accelerates. A Morgan Stanley-led investor group won Chicago's approval for a $2.5 billion parking sale. Banks have postponed a $4.13 billion loan amendment for CD&R-backed White Cap, putting the transaction on hold. Barrick Mining Corp. flagged a potential delay for its North American IPO. Gold Fields Ltd. is considering a sweetened takeover bid for Northern Star Resources, potentially adding cash to its offer. A Shell-led consortium backed a $23 billion expansion of LNG Canada, doubling the project's production capacity. Chile's state oil company will shut part of the country's largest refinery for maintenance, worsening a diesel crunch.
Technology & AI
President Trump hosted AI executives at the White House, where he pushed a super-intelligence rebrand and asked Meta, OpenAI, and Microsoft to make safety decisions themselves. Tech bosses reportedly agreed to a "morally binding" accord on self-regulation. OpenAI ignored employees' warnings about safely testing AI models, while Anthropic consulted religious scholars in its quest to instill morality into Claude. OpenAI also launched a new AI personal assistant as it faces competitive pressure, with Sam Altman saying the company will delay its IPO until safety concerns are overcome. PGIM, the asset management arm of Prudential Financial, pushed for AI limits in CLOs to avoid excessive exposure. AI agents could threaten banks' cheap deposits by moving cash to higher-yielding accounts.
Legal & Regulatory
The Supreme Court allowed the Trump administration's third-country deportations to proceed for now, with arguments scheduled for December on the policy's legality. Special Counsel Jack Smith defended Trump charges as a Republican senator's perjury claim against him faltered. A Staten Island judge ordered New York City to scrap the rollout of a second-home tax and start over. Justice Alito's recusal in a climate case could leave the Supreme Court split 4-4 on Suncor v. Boulder County. Trump was sued over a plan to claw back $810 million in federal funding appropriated by Congress. An ICE agent in Austin shot a man who was subsequently charged with assault after allegedly striking the agent with a car mirror.
Politics & Policy
Victor Marx, a Colorado gubernatorial nominee with a sensational past, is splintering the GOP as some Republicans fear his biography could hurt the ticket. Analysis suggests Trump's brand has eroded as voters cite the economy and corruption, with his luck finally running out. On technological, diplomatic, and biological fronts, Trump is creating a disjointed risk landscape. ICE is planning a hiring surge alongside the AI meetings.
International & Markets
Manchester City was found to have artificially boosted finances by more than £900 million through sham commercial deals, according to an independent commission. Australia battles a black market for cigarettes after a decade of tax rises created a multibillion-dollar opportunity for organized crime. The Ukrainian Science Academy, which accounts for over 90 percent of Ukraine's scientific discoveries, was struck by a drone.
Consumer & Travel
Carnival Corp. posted net income of $1.92 billion, or $1.40 a share, in the third quarter as strong demand more than offset higher fuel costs. The X2 roller coaster at Six Flags Magic Mountain near Los Angeles has permanently closed after years of lawsuits and operational troubles.
Media & Opinion
The Cornell Daily Sun, a student newspaper, pursued a sexual assault case for two years, covering rape allegations at the university. An opinion piece argues Woke 2 still looks pretty crazy in cultural commentary. Another column examines how the U.S. can strengthen its diesel supply through biodiesel and renewable fuels. An FT column asks whether the dying art of active stock picking can make a comeback. Market Talk roundups covered energy and utilities, and tech, media, and telecom sectors. A First FT newsletter noted Lady Gaga urged Japanese to work at FamilyMart amid the AI safety discussions.