Tuesday, September 22, 2026

Wall Street delivered a mixed performance on Tuesday as falling oil prices and Treasury yields provided a tailwind for growth equities, pushing the tech-heavy Nasdaq up 0.45% to 27,244.277. The S&P 500 finished perfectly flat at 7,764.64, while the Dow Jones slipped 0.36% to settle at 51,863.69. Small caps caught a bid with the Russell 2000 climbing 0.51% to 2,889.919, and market anxiety cooled as the VIX volatility index dropped 4.44% to 14.21.

Sectors in focus:

• Precious Metals: Gold and Silver Ores jumped 5.56% and broader Metal Mining gained 3.90%. Spot gold added 0.29% to 4,396.4 as investors sought safe-haven hedges against sticky 3.3% core PCE inflation and lingering Middle East uncertainty.
• Energy & Transportation: WTI Crude tumbled 2.65% to $89.92 per barrel after Saudi Arabia restarted its East-West pipeline and Iran hinted at reopening the Strait of Hormuz. This supply relief dragged down Petroleum Refining (-1.78%) and Water Transportation (-2.14%).
• Financials: Insurance Agents and Brokers (-2.05%) and Security Brokers (-1.96%) lagged the broader market. Financials remain pressured by the Federal Reserve's September 16 interest rate hike, which has narrowed yield spreads and squeezed bank margins.

On the radar:

• September 23: S&P Global Flash US Manufacturing & Services PMI.
• September 24: A massive day for macro and geopolitical catalysts, featuring US Initial Jobless Claims, August New Home Sales, and Costco (COST) Q4 earnings after the close. Markets will also closely monitor the Presidential Summit in Washington D.C. between Donald Trump and Xi Jinping.
• September 25: August US Durable Goods Orders and the final University of Michigan Consumer Sentiment reading.
• Looking ahead (Sept 30): Q2 GDP (Third Estimate) and the crucial August PCE Inflation print.