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Nasdaq 26,939 ยท Rising Treasury yields complicate Fed inflation fight ‌ ‌ ‌ ‌ ‌
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Stock Mornings
Your weekday pre-market read on US stocks.
Issue #68 ยท Friday, September 25, 2026
Volatility (VIX)  Cautious ยท 15.1  โ–ผ from 15.7 yesterday
Worth noting  Meta (META) moved +4.50% on the day.
Major indexes hold steady as Treasury yields climb, sharpening focus on Fed policy and inflation management.
 
 

โ—  The Numbers

S&P 5007,704.13  -0.02%
+2.02% this week
Nasdaq Composite26,939.37  +0.01%
+3.70% this week
Dow Jones51,349.98  -0.31%
-0.22% this week
Russell 20002,835.57  -0.11%
-0.81% this week

Before the bell: see how Asia, Europe & US futures traded overnight →

โ—  The Movers

Leaders

META Meta+4.50%
GOOGL Alphabet+1.34%
AMZN Amazon+0.04%

Laggards

TSLA Tesla-0.57%
MSFT Microsoft-0.53%
NVDA Nvidia-0.41%

The day's best and worst of the tracked indices and mega-caps ยท day-over-day change.

โ—  The Read

S&P 500 โ€” description, not prediction

Trading above both its 50-day (7,628.05) and 200-day (7,196.25) averages โ€” the longer-term trend reads as up. 30-day range 7,551.81โ€“7,798.99; currently in the middle third of that range. RSI(14) 53 โ€” momentum roughly neutral.

See where every market sits on the daily page โ†’

โ—  The Brief

 Rising Treasury yields complicate Fed inflation fight

Bond yields are climbing as markets expect the Federal Reserve to take a firmer stance on inflation, but higher rates present their own economic challenges and policy tradeoffs. (CNBC)

 Fed Chairman Warsh drives policy changes amid rate uncertainty

Fed leadership under Kevin Warsh is implementing rapid policy shifts while signaling further interest-rate increases may remain on the table, reshaping the central bank's approach. (CNBC)

 Eli Lilly extends lead in competitive GLP-1 obesity drug market

Eli Lilly is pulling ahead of rival Novo Nordisk in the high-stakes obesity and diabetes drug sector, where market positioning and clinical advantages are shifting competitive dynamics. (CNBC)

 China reports unexpected jump in U.S. export orders

A private survey shows Chinese exports to America rebounded as companies prepare for continued bilateral stability ahead of planned Trump-Xi discussions. (CNBC)

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Markets 101

What is a P/E ratio?

Price divided by earnings per share โ€” how many dollars you pay for each dollar of annual profit. A high P/E means investors expect growth; it says nothing certain about the future.

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Stock Mornings is an educational digest for US readers. Nothing here is financial, investment, tax, or legal advice. Stocks carry risk โ€” you can lose money, and past performance does not predict future results. Some links may be affiliate links; we may earn a commission at no cost to you. Prices via Yahoo Finance, captured shortly before the opening bell.

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