Daily News
Asia-Pacific Stocks Mostly Lower as Hang Seng Falls 2.48%; S&P 500 Edges Up as Treasury Yields Retreat From Multiyear Highs; Gold Holds Near $4,150; Crude Trades Around $93 on Iran Escalation Fears
02 October 2026
Today in Brief
Asia-Pacific stocks were mostly lower, with Japan’s Nikkei 225 declining 0.95%, South Korea’s Kospi losing 1% and Hong Kong’s Hang Seng Index falling 2.48% after resuming trade from a holiday, while Australia’s S&P/ASX 200 rose 0.35%. On Wall Street, the S&P 500 added 0.19% to close at 7,666.45, the Nasdaq Composite gained 0.04% to 26,871.60 and the Dow rose 20.51 points, or 0.04%, to 50,926.56 as Treasury yields retreated from their highest levels in more than 20 years; the 10-year yield had hit an intraday high of 5.344%. Gold slipped to around $4,150 an ounce and was headed for a second consecutive weekly decline, while crude traded around $93 per barrel after two sessions of gains as the US weighed sending another aircraft carrier to the Middle East.
In other news: U.S. trade representative Jamieson Greer said a deal with India is not “imminent” after the Modi-Trump call; the Treasury Department sanctioned Iran’s automotive and rail sectors; Russia launched massive strikes on Ukraine’s energy grid; Nike shares dropped after disappointing sales and a restructuring plan that includes layoffs; Boeing engineers and technical workers approved a new contract, avoiding a strike; General Motors’ third-quarter U.S. sales fell 5.5%; and Amazon is seeking to offload about $8 billion of Nvidia chips to investors, the FT reported.
Asia-Pacific stocks were mostly lower Friday
Asia-Pacific stocks were mostly lower Friday. Japan’s Nikkei 225 declined 0.95%, after gaining sharply on Thursday. South Korea’s Kospi lost 1%. Hong Kong’s Hang Seng Index lost 2.48% after resuming trade from a holiday. Australia’s S&P/ASX 200 was up 0.35%. Treasury yields climbed to multiyear highs before retreating. The benchmark 10-year Treasury note yield soared to 5.344%, its highest level since 2002. The yield on the 30-year Treasury bond also reached its highest in 24 years. Oil prices also climbed after The Wall Street Journal reported the U.S. is sending a third aircraft carrier strike group to the Middle East.
S&P 500 closes higher to start October as Treasury yields retreat from multiyear highs
Stocks posted modest gains on the first trading day of October, clawing back earlier declines as Treasury yields retreated from their highest levels in more than 20 years. The S&P 500 added 0.19% to close at 7,666.45, and the Nasdaq Composite eked out a 0.04% gain to end at 26,871.60. The Dow Jones Industrial Average inched up 20.51 points, or 0.04%, to 50,926.56. The 10-year U.S. Treasury yield hit an intraday high of 5.344% to reach its highest level going back to 2002. The 30-year bond yield also scaled to levels not seen in 24 years.
Gold prices slipped to around $4,150 an ounce on Friday and were headed for a second consecutive weekly decline
Gold prices slipped to around $4,150 an ounce on Friday and were headed for a second consecutive weekly decline, pressured by higher oil prices amid concerns over a potential escalation in the US-Iran conflict. The metal also faced headwinds from a stronger dollar and elevated Treasury yields as investors assessed the latest Federal Reserve commentary and awaited a key US jobs report. Oil prices rose as the US considered deploying an additional aircraft carrier and 10,000 troops to the Middle East, raising the risk of further disruptions to regional energy supplies and renewed inflation pressures. Meanwhile, investors looked ahead to the September US jobs report, which could influence expectations for the Fed’s policy path.
Crude oil traded around $93 per barrel on Friday after gaining for two consecutive sessions
Crude oil traded around $93 per barrel on Friday after gaining for two consecutive sessions, as the US weighed sending another aircraft carrier to the Middle East, raising the prospect of an escalation in the war with Iran and further disruptions to regional energy supplies. The Pentagon is also considering the deployment of 10,000 sailors and Marines to the Persian Gulf, giving President Donald Trump additional options if he decides to intensify attacks on Iran. Trump has reportedly told aides that he expects to resume bombing Iran after the November midterm elections. The renewed tensions come as crude flows from the Middle East have largely recovered to prewar levels, although markets remain doubtful that the recovery can be sustained without a lasting agreement to end the conflict.
U.S. trade representative Greer says deal with India not ‘imminent’ after Modi-Trump call
U.S. trade representative Jamieson Greer on Thursday signalled that a deal with India was not on the cards soon, as Washington and New Delhi continue to hash out the finer points of a much-awaited agreement. “I don’t think there is something imminent,” Greer said in response to a query by Indian news agency ANI, adding that “we truly have identified the universe of items that are sticking points.” His comments come just a day after U.S. President Donald Trump and Indian Prime Minister Narendra Modi’s spoke over the phone, a call that Greer described as “very constructive.” He also held bilateral meetings with Indian Commerce Minister Piyush Goyal, who is in the U.S. to negotiate the trade deal and to attend the G20 trade ministers meeting in Milwaukee.
Treasury yields fall from multiyear highs
Treasury yields fell on Thursday, giving back some of the recent gains that propelled longer-dated rates to levels not seen in decades. The 10-year Treasury yield breached a level last seen in April 2002, before easing 5 basis points to 5.243%. The 10-year influences rates on mortgage and auto loans and credit card debt. The yield on the 30-year Treasury bond also hit its highest in 24 years before dropping more than 2 basis points to 5.613%. Yields and prices move inversely. One basis point equals 0.01%.
Treasury sanctions operation targets Iran’s auto, rail industries in latest economic attack
The Treasury Department on Thursday sanctioned Iran’s automotive and rail sectors as part of the Trump administration’s wartime effort to hobble Tehran by cutting off its remaining financial lifelines. Several companies connected to Iran’s metals industry, including the Chinese subsidiary of Middle East machinery company HEPCO, are also being designated by the Office of Foreign Assets Control, Treasury said in a news release. In a separate release, the department announced additional sanctions on the A7 Network, described as a “shadow banking network with ties to Russia used by the Iranian regime to evade sanctions.” The actions are the latest to come from “Operation Economic Outcast,” the beefed-up sanctions effort that President Donald Trump and Treasury Secretary Scott Bessent touted as Iran’s “economic D-Day” when it was unveiled in late August.
Russia launches massive strikes on Ukraine’s energy grid, forcing power cuts ahead of winter
Russia has launched a widely anticipated attack on Ukraine’s power grid, hitting key facilities in Kyiv and other major cities across the country, marking one of the biggest energy assaults in months. Ukrainian officials and national security experts have been warning about the prospect of a Russian air campaign on its energy infrastructure ahead of winter, fearing another extremely difficult cold snap at a time when the country faces an acute air defense shortage. Seven people were killed in the latest attacks, officials said Wednesday, with state grid power operator Ukrenergo imposing emergency power cuts in Kyiv and three other regions. Freezing temperatures have been forecast at night in Ukraine’s capital over the coming days. “Russia has launched massive strikes on energy infrastructure,” Ukrainian Prime Minister Serhii Koretskyi said Wednesday via Telegram.
Nike shares drop as retailer posts disappointing sales, announces layoffs as part of restructuring
Nike on Thursday posted a mixed fiscal first quarter and announced a restructuring plan that will lead to layoffs starting next year. The company also offered a full-year outlook, saying it expects revenues to decline by a high-single digit percentage in fiscal 2027. Nike also said it expects adjusted earnings per share to be in a range of $1.15 to $1.35. Shares of Nike fell roughly 3% in extended trading Thursday. Here’s what the company reported for the period compared to what analysts expected, according to consensus estimates from LSEG: Earnings per share: 48 cents vs. 43 cents expected Revenue: $11.21 billion vs. $11.32 billion expected Nike reported net income of $712 million, down 2% from $727 million the year prior. Revenue fell 4% to $11.21 billion. The retailer said Nike brand revenues took a hit largely due to sustained declines in the China business. Revenue in the market dropped 26%. CEO Elliott Hill said on a call with analysts that the company is “moving with urgency” to improve its business in the region.
Boeing engineers and technical workers approve new contract, avoiding strike
Boeing engineers and technical workers approved a sweetened four-year contract with immediate 10% raises, avoiding a potential strike at the aerospace giant as it seeks federal approval for new aircraft and to increase aircraft production. “We secured many victories that some thought were completely out of reach when this negotiation cycle started,” said the Society of Professional Engineering Employees in Aerospace, which represents about 13,000 Boeing engineers and 4,000 technical workers. Boeing increased its offer in mid-September after the workers rejected an earlier proposal. In addition to the 10% ratification wage increase, the four-year contract includes annual raises of 4%, with an increase of up to 6% based on merit.
General Motor Q3 sales drop 5.5%, while Toyota buoyed by EVs, hybrids
General Motors on Thursday reported a year-over-year sales decline of 5.5%, with 670,974 new vehicles sold during the third quarter. GM’s sales of all-electric vehicles are down across the board, as enthusiasm for EVs wanes. EV demand spiked last year ahead of the Trump administration ending up to $7,500 in federal incentives for consumers to purchase an electric vehicle. During the same period last year, GM reported record sales of its electric vehicles. Against those comparisons, EVs this year saw dramatic drops, with the Equinox EV down 92.4% during the most recent quarter, at 1,905 vehicles sold. The Blazer EV was down 84.4% and Hummer EV sales fell 72.9%.
Amazon seeks to offload $8 billion of Nvidia chips to investors, FT reports
Amazon is seeking to offload about $8 billion of advanced Nvidia chips to investors through a new vehicle to strengthen its balance sheet, the Financial Times reported on Friday, citing people familiar with the matter. In recent weeks, Amazon has held talks with investors to gauge interest in the deal that would move thousands of Grace Blackwell chips it is installing in US data centres into a special-purpose vehicle, the report said. The cloud giant will then lease the advanced AI chips back from the SPV, which would tap outside investors through debt issuance, the FT said, adding that the company could adopt a more asset-light approach to its balance sheet by unloading the expensive semiconductors to investors. Amazon plans to offer an equity stake of up to 10% in the vehicle, the newspaper said.