Last updated: September 28, 2026, 10:06 PM ET
Macro & Rates
A sharp bond sell-off deepened Monday as hopes for a US-Iran deal faded, pushing the 10-year Treasury yield above 5.2% for the first time in years. The yield on the benchmark note climbed to fresh highs alongside a surge in oil prices, pressuring equity markets. The WSJ Dollar Index rose 0.15% to 96.85, gaining for the ninth time in 11 sessions as risk appetite waned. Traders are snapping up options on fixed-income ETFs at a record pace, betting on further yield increases. Asian bonds are expected to track Treasuries lower as oil-driven inflation fears intensify.
Equities
U.S. stocks started the week on a down note, with the selloff in Treasuries and rising crude weighing on sentiment. The combination of higher oil and bond yields created a damper on Wall Street, though Nvidia rose on news of a massive buyback. In the tech sector, Nvidia authorized a record $150 billion addition to its stock buyback program, the largest ever authorized by a U.S. company. Separately, Seoul is accusing Ukraine of violating a secrecy agreement regarding North Korean soldiers.
Energy & Commodities
Oil prices pared early gains but still settled up 0.2% at $92.60 a barrel, pressured by the reopening of a key Saudi pipeline. Brent crude jumped a second day as uncertainty over US-Iran talks persisted, with President Trump rejecting Iran’s proposal over the weekend. Crude trimmed gains after Saudi Arabia’s state supplier reopened a pipeline. Natural gas futures plunged 6.1% to $3 per mm Btu in a sharp reversal. Meanwhile, copper is set to give Australia’s mining stock rally a new engine, analysts say, as surging demand supports prices.
Deals & Corporate Finance
Goldman Sachs’ board has discussed a plan to name John Waldron as its next CEO, under which David Solomon would step down. AMD is buying Fei-Fei Li’s AI start-up World Labs for $8 billion, in a bet on advanced AI models. Summit Therapeutics jumped after announcing a $2 billion deal with AstraZeneca. AAR will pay $1.8 billion for a majority stake in an aircraft-maintenance company backed by Bain. Raytheon secured a $20.7 billion contract to accelerate AMRAAM missile production over five years. HSBC is moving to bolster Hang Seng Bank by cleaning up its balance sheet with a $1.4 billion loan portfolio sale. Creditors are suing Optimum and Patrick Drahi, alleging fraudulent deal-making. Golden Gate is being sued over a $2.2 billion capital shortfall at a struggling life insurer. Michaels, owned by Apollo, won an S&P ratings lift after cutting debt.
Infrastructure & Regulation
The Trump administration is sharply scaling back fuel economy rules, a move that benefits automakers but critics say worsens emissions. Trump also unveiled a $15 billion Iowa steel project, seeking wins ahead of tough midterms. A nuclear reactor project in Tennessee is set to win US approval, with the TVA proposing a 300 MW plant. A US judge blocked FEMA from tying antiterrorism grants to election changes. The coal industry asked for a rescue and Trump obliged, using emergency powers. Justice Alito recused himself days before a major climate-change case. The Trump administration asked the Supreme Court to allow it to deny hormones to trans inmates. A software glitch will delay US approval of the newest Boeing 737 MAX, with the FAA set to assess a possible safety risk. Boeing shares fell 6% to $184. A Kenyan court paused construction of the $16 billion Dangote refinery. China and the US pledged to cut tariffs on $60 billion in goods.
Defense & Security
Five British men were detained near RAF Fairford, a base used by American bombers, in connection with a possible terrorist plot. The villages near RAF Fairford are abuzz over the threat. An embarrassing breach at the FBI by hackers known as Shiny Hunters has fueled fears of harm to its employees, with sensitive data potentially stolen. A Russian drone strike hit Ukraine’s National Academy of Sciences, causing a fire in Kyiv’s city center. South Korean financial firms are chasing bold overseas M&A to fuel growth. The Proud Boys convicted over Jan. 6 are going from prosecutions to pardons to a premiere of a documentary.
Sector Roundups & Other Headlines
Vail Resorts’ ski pass sales tumbled 12%, signaling another tough winter ahead after poor snow conditions. The energy & utilities roundup offers insight on Total Energies, RWE, and Korea Electric Power. The tech, media & telecom roundup covers Nvidia, ASM International, and Dassault Systemes. The Nike lifer driving a high-stakes turnaround in China faces a major challenge as the country is now a cause of the sportswear giant’s struggles. Pushback is building as large batteries come to crowded neighborhoods, with utilities facing local opposition. A Cornell sexual assault investigation is to be reopened after outrage over allegations. Speaker Mike Johnson will stump with Republicans in 22 states before the midterms. The cure for loneliness may lie in a suburban duplex, developers say. After a life in isolation, a Tennessee woman waits for her execution. Affordability is a winning message for Democrats, but there’s an even better one: economic rebalancing. Hackers could overwhelm the power grid; here is how to stop them, according to a new op-ed.