Tormere After-Market Digest
September 25, 2026
Prepared by Tormere Research:Communications (TR:C)
Top headlines

Stock market today: Dow, S&P 500, Nasdaq notch weekly wins as market shrugs off bond sell-off, oil prices ease

The Dow rose 0.93% (478.64 points) to 51,828.62, the S&P 500 gained 0.51% (39.28 points) to 7,743.41 and the Nasdaq Composite added 0.48% to 27,068.72. All three major indexes posted weekly gains, and the Dow snapped a three-week losing streak. Yahoo Finance

Oil prices slide about 2% as US, Iran explore path out of war

Brent futures fell $2.28 (2.1%) to settle at $104.32 a barrel and WTI fell $2.20 (2.3%) to $92.41; for the week Brent was up less than 1% and WTI down about 8%. Negotiators in New York are exploring “a phased path out of war” in which Tehran reopens the Strait of Hormuz and Washington lifts its economic blockade, while a possible US diesel export ban and continued Houthi attacks on Saudi Arabia kept supply risks in view. Reuters

University of Michigan consumer sentiment index, September 2026

The final September reading was 48.1, down from 51.7 in August and above the 47.6 consensus. The expectations index fell to 46.3 from 51.5, the 12-month inflation outlook rose to 4.6% from 4.0%, and five-year inflation expectations rose to 3.4% from 3.3%. Director Joanne Hsu said, “Overall, interviews reveal broad agreement across the political spectrum that the outlook for the economy has weakened since the beginning of the year.” Quartz

Markets close
Close: Sep 25, 2026, 4:00 PM ET
AssetCloseChg%
S&P 500^GSPC7,743.41+39.28+0.51%
Nasdaq Composite^IXIC27,068.72+129.35+0.48%
Dow Jones^DJI51,828.62+478.64+0.93%
CBOE Volatility Index^VIX14.87-0.80-5.11%
U.S. Dollar IndexDXY · 4:00 PM ET101.00-0.26-0.26%
Brent CrudeICE Nov '26 · 2:30 PM ET settle$104.32-$2.28-2.14%
GoldCOMEX Dec '26 · 1:30 PM ET settle$4,320.50+$22.50+0.52%
U.S. Treasury Yields
Prints through Sep 25, 2026
Chg and % measured vs the prior print, Sep 24, 2026
TenorCloseChg%
1-MonthT-bill4.04%+3bp+0.75%
3-MonthT-bill4.24%0bp0.00%
6-MonthT-bill4.33%-1bp-0.23%
1-YearT-note4.50%-1bp-0.22%
2-YearT-note4.81%-6bp-1.23%
5-YearT-note4.98%-5bp-0.99%
10-YearT-note5.17%-1bp-0.19%
30-YearT-bond5.49%+2bp+0.37%
Sectors & breadth
Sector performance
Industrials · XLI+0.95%
Technology · XLK+0.80%
Financials · XLF+0.57%
Health Care · XLV+0.49%
Cons. Staples · XLP+0.44%
Utilities · XLU+0.38%
Today’s leading S&P 500 movers
BE+8.27%
ON+5.54%
MCHP+5.36%
GEN-6.29%
CHTR-3.95%
PANW-3.89%
Economic calendar
High
Medium
Low
All times ET
25
Fri
Today
USD8:30 AM
Durable goods orders (Aug)
USD10:00 AM
University of Michigan consumer sentiment, final (Sep)
28
Mon
USD11:05 AM
Fed Governor Barr speaks on economic outlook and housing
29
Tue
USD10:00 AM
JOLTS job openings (Aug)
USD10:00 AM
Conference Board consumer confidence (Sep)
USD12:40 PM
Fed Governor Barr speaks on the economic outlook
30
Wed
USD8:30 AM
GDP third estimate (Q2)
USD8:30 AM
Personal income and outlays, PCE (Aug)
USD8:30 AM
Advance economic indicators: trade, retail and wholesale inventories (Aug)
1
Thu Oct
USD8:30 AM
Initial jobless claims
USD10:00 AM
ISM manufacturing PMI (Sep)
USD10:00 AM
Construction spending (Aug)
USD1:30 PM
Fed Vice Chair Jefferson speaks on the U.S. economy and monetary policy
2
Fri Oct
USD8:30 AM
Employment situation, nonfarm payrolls (Sep)
The forward look
TR:C thesis
The curve steepened as the front end rallied. The 2-year Treasury yield fell 6bp to 4.81% and the 5-year 5bp to 4.98%, while the 10-year eased 1bp to 5.17% and the 30-year rose 2bp to 5.49%, widening the 2s10s spread to 36bp from 31bp. Equities advanced into the weekend, the S&P 500 (+0.51%) and Nasdaq (+0.48%) posting weekly gains and the Dow (+0.93%) ending a three-week losing streak, with Industrials (+0.95%) and Technology (+0.80%) leading and the VIX down 5.11% to 14.87. Per Reuters, November Brent settled at $104.32, down 2.14%, and WTI at $92.41 as US and Iranian negotiators explored a phased path to reopening the Strait of Hormuz; Brent still finished the week up less than 1% while WTI fell about 8%. The dollar index slipped 0.26% to 101.00 and gold rose 0.52% to $4,320.50. The University of Michigan’s final September sentiment reading fell to 48.1 with 12-month inflation expectations at 4.6%, a backdrop for next week’s data run: JOLTS and Conference Board confidence on September 29, the GDP third estimate and August personal income and outlays (PCE) on September 30, the ISM manufacturing PMI on October 1 and September payrolls on October 2.
Tormere Research:Communications · Tormere Analytics
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