Morning BriefNo. 30
Dollar strengthens against the euro; stocks edge lower, led by the Dow
In Wednesday's session, the Nasdaq Composite lost 0.2%, the 10-year Treasury yield rose to 5.28%, gold settled at $4,140.70 an ounce, and WTI crude fell to $88.28 a barrel.
- S&P 5007,801.77▼ −0.22%
- Nasdaq27,538.69▼ −0.22%
- Dow51,179.87▼ −0.66%
- 10-yr yield5.28%▲ +1 bp
- EUR/USD$1.1177▼ −0.82%
- Gold$4,140.70▼ −1.11%
- WTI crude$88.28▼ −1.30%
- Bitcoin$83,239▼ −2.64%
Stocks
The broad S&P 500 edged down 0.22% to 7,801.77. The tech-heavy Nasdaq Composite eased 0.22%, and the Dow Jones Industrial Average declined 0.66% to 51,179.87. Smaller companies underperformed: the Russell 2000 fell 1.31%.
The S&P 500 has gained 14.0% so far in 2026. The Cboe Volatility Index, which tracks expected swings in the S&P 500 over the next 30 days, ticked up to 15.08, below its long-run average of about 19.4.
Rates
The 10-year Treasury yield inched higher 1 basis point to 5.28%. The 2-year yield slipped 2 basis points to 4.77%. At the long end, the 30-year yield moved up to 5.67%.
That left the 10-year yield 51 basis points above the 2-year, a steeper curve than a day earlier. The 3-month Treasury bill yielded 4.22%. The effective federal funds rate — the Fed's main policy rate — stood at 3.88% as of October 6.
Source: U.S. Department of the Treasury, Federal Reserve Bank of St. Louis.
Currencies
The euro fell 0.82% to $1.1177 in the European Central Bank's daily reference rates, while the dollar crept higher 0.09% against the yen to ¥158.23 and the British pound retreated to $1.3205. Overall, the dollar strengthened against eight of the nine major currencies we track. The biggest move came from the Mexican peso, which fell 0.83% against the dollar. The euro has lost 4.9% against the dollar this year.
Commodities and bitcoin
U.S. crude oil (WTI) lost ground 1.3% to $88.28 a barrel, while Brent, the international benchmark, eased 0.4% to $100.20 a barrel.
U.S. natural gas futures climbed 2.9% to $3.203 per million British thermal units. Gold fell 1.1% to $4,140.70 an ounce, and silver sank 2.1% to $60.29 an ounce.
Bitcoin sank 2.6% to $83,239.
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: S&P Dow Jones Indices.
U.S. home prices climbed to 1.9% in July from 1.6% in the prior month. That is up from 1.6% a year earlier. Over the past 10 years it has ranged from -0.3% (May 2023) to 20.8% (March 2022).
What it measures. The 12-month change in the S&P Case-Shiller U.S. National Home Price Index, which tracks repeat sales of the same single-family homes.
Why it matters. Home values are the largest source of wealth for many American households, and they feed directly into affordability for first-time buyers.
The numbers
| Instrument | Last | Chg | % | ||
|---|---|---|---|---|---|
| Stocks | |||||
| S&P 500 | 7,801.77 | −17.16 | −0.22% | ||
| Nasdaq Composite | 27,538.69 | −61.20 | −0.22% | ||
| Dow Jones Industrial Average | 51,179.87 | −341.41 | −0.66% | ||
| Russell 2000 | 2,793.20 | −37.10 | −1.31% | ||
| Cboe Volatility Index | 15.08 | +0.07 | +0.47% | ||
| Treasury yields | |||||
| 3-month Treasury bill | 4.22% | +1 bp | — | ||
| 2-year Treasury | 4.77% | −2 bp | — | ||
| 5-year Treasury | 5.03% | 0 bp | — | ||
| 10-year Treasury | 5.28% | +1 bp | — | ||
| 30-year Treasury | 5.67% | +3 bp | — | ||
| Currencies | |||||
| Euro (EUR/USD) | $1.1177 | −0.0092 | −0.82% | ||
| Japanese yen (USD/JPY) | ¥158.23 | +0.14 | +0.09% | ||
| British pound (GBP/USD) | $1.3205 | −0.0072 | −0.54% | ||
| Chinese yuan (USD/CNY) | 6.7046 | 0.0000 | 0.00% | ||
| Canadian dollar (USD/CAD) | 1.4253 | +0.0003 | +0.02% | ||
| Swiss franc (USD/CHF) | 0.8329 | +0.0024 | +0.28% | ||
| Australian dollar (AUD/USD) | $0.6951 | −0.0031 | −0.44% | ||
| Mexican peso (USD/MXN) | 18.0943 | +0.1495 | +0.83% | ||
| Commodities | |||||
| WTI crude oil | $88.28 | −1.16 | −1.30% | ||
| Brent crude oil | $100.20 | −0.38 | −0.38% | ||
| Natural gas | $3.203 | +0.089 | +2.86% | ||
| Gold | $4,140.70 | −46.40 | −1.11% | ||
| Silver | $60.29 | −1.30 | −2.10% | ||
| Copper | $6.650 | 0.000 | 0.00% | ||
| Digital assets | |||||
| Bitcoin | $83,239 | −2,260 | −2.64% | ||
Closing levels for October 7, 2026. Yields in percent; changes in basis points (bp). Currencies are ECB reference rates. Commodities are front-month futures settlements.
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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.