Morning BriefNo. 29
S&P 500 gains 0.6% to a record; 10-year yield eases to 5.27%
In Tuesday's session, the Nasdaq Composite added 0.4%, the Dow rose 0.5%, gold settled at $4,187.10 an ounce, and WTI crude held at $89.44 a barrel.
- S&P 5007,818.93▲ +0.58%
- Nasdaq27,599.89▲ +0.45%
- Dow51,521.28▲ +0.49%
- 10-yr yield5.27%▼ −4 bp
- EUR/USD$1.1269▲ +0.58%
- Gold$4,187.10▲ +0.73%
- WTI crude$89.44▲ +0.01%
- Bitcoin$85,499▼ −0.37%
Stocks
The benchmark S&P 500 climbed 0.58% to 7,818.93, its first record close since August 13, 2026 and its fourth straight gain. The tech-heavy Nasdaq Composite climbed 0.45% to a record 27,599.89, and the Dow Jones Industrial Average advanced 0.49% to 51,521.28. Smaller companies underperformed: the Russell 2000 lost ground 0.59%.
The S&P 500 has gained 14.2% so far in 2026. The Cboe Volatility Index, which tracks expected swings in the S&P 500 over the next 30 days, sank to 15.01, below its long-run average of about 19.4.
Rates
The 10-year Treasury yield eased 4 basis points to 5.27%. The 2-year yield, which is more sensitive to expectations for Federal Reserve policy, fell 5 basis points to 4.79%.
That left the 10-year yield 48 basis points above the 2-year. Freddie Mac's latest weekly survey put the average 30-year fixed mortgage rate at 7.28% (October 1). The 3-month Treasury bill yielded 4.21%.
Source: U.S. Department of the Treasury, Federal Reserve Bank of St. Louis.
Currencies
The euro advanced 0.58% to $1.1269 in the European Central Bank's daily reference rates, while the dollar eased 0.09% against the yen to ¥158.09 and the British pound advanced to $1.3276. Overall, the dollar weakened against seven of the nine major currencies we track. The biggest move came from the Mexican peso, which rose 1.14% against the dollar.
Commodities and bitcoin
WTI crude held steady at $89.44 a barrel, while Brent, the international benchmark, edged up 0.3% to $100.58 a barrel.
U.S. natural gas futures advanced 1.6% to $3.114 per million British thermal units. Gold rose 0.7% to $4,187.10 an ounce, and silver crept higher 0.5% to $61.59 an ounce.
Bitcoin slipped 0.4% to $85,499.
On the calendar
No major U.S. economic releases are scheduled today.
Coming up
- Wed Oct 148:30 a.m.Consumer Price Index (CPI)Bureau of Labor Statistics
- Thu Oct 158:30 a.m.Producer Price Index (PPI)Bureau of Labor Statistics
- Wed Oct 282 p.m.Fed policy decisionFederal Reserve (FOMC)
Chart of the day
Source: Board of Governors of the Federal Reserve System.
Broad trade-weighted U.S. dollar index moved up to 120.7 in September 28 from 120.3 in the prior session. That is up from 120.1 a year earlier. Over the past 10 years it has ranged from 106.5 (February 2018) to 130.0 (January 2025).
What it measures. The Federal Reserve's index of the dollar's value against the currencies of a broad group of U.S. trading partners, weighted by trade.
Why it matters. A stronger dollar makes imports cheaper and U.S. exports less competitive, and it tightens financial conditions for companies and governments abroad that borrow in dollars.
The numbers
| Instrument | Last | Chg | % | ||
|---|---|---|---|---|---|
| Stocks | |||||
| S&P 500 | 7,818.93 | +44.98 | +0.58% | ||
| Nasdaq Composite | 27,599.89 | +122.58 | +0.45% | ||
| Dow Jones Industrial Average | 51,521.28 | +253.38 | +0.49% | ||
| Russell 2000 | 2,830.30 | −16.84 | −0.59% | ||
| Cboe Volatility Index | 15.01 | −0.51 | −3.29% | ||
| Treasury yields | |||||
| 3-month Treasury bill | 4.21% | −1 bp | — | ||
| 2-year Treasury | 4.79% | −5 bp | — | ||
| 5-year Treasury | 5.03% | −3 bp | — | ||
| 10-year Treasury | 5.27% | −4 bp | — | ||
| 30-year Treasury | 5.64% | −2 bp | — | ||
| Currencies | |||||
| Euro (EUR/USD) | $1.1269 | +0.0065 | +0.58% | ||
| Japanese yen (USD/JPY) | ¥158.09 | −0.14 | −0.09% | ||
| British pound (GBP/USD) | $1.3276 | +0.0052 | +0.39% | ||
| Chinese yuan (USD/CNY) | 6.7046 | 0.0000 | 0.00% | ||
| Canadian dollar (USD/CAD) | 1.4250 | −0.0003 | −0.02% | ||
| Swiss franc (USD/CHF) | 0.8305 | −0.0005 | −0.06% | ||
| Australian dollar (AUD/USD) | $0.6982 | +0.0022 | +0.31% | ||
| Mexican peso (USD/MXN) | 17.9448 | −0.2050 | −1.13% | ||
| Commodities | |||||
| WTI crude oil | $89.44 | +0.01 | +0.01% | ||
| Brent crude oil | $100.58 | +0.26 | +0.26% | ||
| Natural gas | $3.114 | +0.048 | +1.57% | ||
| Gold | $4,187.10 | +30.30 | +0.73% | ||
| Silver | $61.59 | +0.29 | +0.47% | ||
| Copper | $6.650 | +0.008 | +0.13% | ||
| Digital assets | |||||
| Bitcoin | $85,499 | −322 | −0.37% | ||
Closing levels for October 6, 2026. Yields in percent; changes in basis points (bp). Currencies are ECB reference rates. Commodities are front-month futures settlements.
Worth reading
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Diurna briefs are compiled from official and exchange data by our publishing system using fixed editorial rules; they describe market moves and do not speculate about causes. This is not investment advice. How we produce the Daily Brief.