S&P 500 ends marginally lower as investors focus on US-Iran war
By Noel Randewich and Johann M Cherian
Thu September 24, 2026
Wow, what a rollercoaster today as Houthi attacks on Saudi Arabia once again pushed up the price of oil to $107/barrel, also continuing to push up the 30-year yield which today reached a 22-year high. All three indexes were way down in the morning, the Dow plunging nearly 400 by noon with the other indexes following suit. Then right around the noon hour, everything shot right back up again almost instantly as Reuters reported that a deal was in the works for a gradual reopening of the Strait of Hormuz and for phasing out Trump’s blockades of Iran.
Most of the day’s losses were recouped within minutes and stayed that way all afternoon with the Dow closing with a much more nominal loss and the tech indexes breaking even. Uncertainty still rules and the Fed still maintains another likely rate hike before year-end but, at least today, there was no mention of anything as early as October. The war remains the central focus with oil and inflation the primary drivers. Volume came in at 16.8 billion, nearly a wash with the 16.7 average.
DJ: 51,511.59 -352.10 NAS: 26,936.04
-308.24 S&P: 7,706.03
-58.61 9/23
DJ: 51,349.98 -161.61 NAS: 26,939.37
+3.34 S&P: 7,704.13
-1.90 9/24
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