US Stocks Edge Down as Oil, Yields Rise Thursday, September 24, 2026

Market Wrap

US equities finished narrowly mixed on Thursday, September 24, 2026. The S&P 500 slipped 0.02%, the Nasdaq Composite gained 0.01%, and the Dow Jones Industrial Average declined 0.31%. The muted session followed broader losses on Wednesday, when the S&P 500 fell 0.75%, the Nasdaq 1.13%, and the Dow 0.68%.

Microsoft dipped, while Meta Platforms rose following the launch of an AI gadget. Oracle also slipped. Blue Owl declined after a report regarding a force majeure notice.

What Drove It

Uncertainty surrounding the Middle East pushed oil prices higher and kept Treasury yields elevated, putting pressure on stocks. The 10-year US Treasury yield was quoted at 5.168% on Thursday afternoon as borrowing costs continued to rise. That followed a significant bond market selloff on Wednesday, when the 10-year Treasury yield crossed the 5% threshold and reached levels not seen since 2007.

Federal Reserve Governor John Williams said another interest rate hike this year is considered reasonable. His comment came after data released on Wednesday showed US business activity expanding at its fastest pace in over five years while inflationary pressures built. Together, the remarks and economic data supported expectations for further monetary tightening, an outlook that typically weighs on equities, particularly growth stocks.

Geopolitics remained in focus as traders awaited a meeting between US President Donald Trump and Chinese President Xi Jinping in Washington later in the day. A separate report said Washington and Beijing reached a deal to extend a trade truce.

Sector Highlights

Large technology stocks moved in different directions. Microsoft declined, while Meta Platforms advanced, reportedly after the launch of an AI gadget. Travel stocks had been pressured by worries about AI on Wednesday, but the group was not specifically highlighted among Thursday’s leaders or laggards. Energy rallied on Wednesday as oil prices rose, and crude continued climbing on Thursday.

Precious Metals & Commodities

Oil prices continued to rise amid uncertainty in the Middle East. NYMEX Crude Futures traded at $95.35, up 0.78%, while Brent Crude Futures reached $107.59. This put crude oil prices above $105 a barrel.

Gold futures were quoted at $4308.60, down 0.23% for the day.

In currency markets, the US Dollar Index (DXY) rose 0.20% to 96.97, marking a two-month high. The 10-year US Treasury yield stood at 5.168%.

What to Watch Tomorrow

Investors will be watching for trade-related news from the meeting between US President Donald Trump and Chinese President Xi Jinping. Developments in the Middle East, particularly their effects on oil prices and bond yields, will remain in focus. Markets will also watch for Federal Reserve commentary or economic data that could affect the path of interest rates.

Bottom Line

Thursday’s market action showed continued caution as oil prices and Treasury yields rose and expectations for further Fed rate hikes persisted. For long-term investors, fundamental company performance and diversified investment strategies remain more important than short-term volatility tied to geopolitical events and monetary policy uncertainty.