Wall Street slips as long-dated yields hit multi-year highs 30/09/2026

1. WALL STREET SLIPS UNDER RATE PRESSURE
US stocks closed lower on September 29: the Dow Jones Industrial Average fell 131.59 points, or 0.26%, to 51,349.92; the S&P 500 lost 12.85 points, or 0.17%, to 7,670.84; the Nasdaq Composite slipped 22.84 points, or 0.09%, to 26,797.54. The 30-year Treasury yield topped 5.61% intraday, the highest since 2002, while the 10-year yield rose to about 5.24%, the highest since 2007. Meta Platforms rose more than 3%, Oracle rose about 4% and SK Hynix rose 2.6%, whereas the Nasdaq Golden Dragon China Index fell 1.55% and Nio dropped 5%.

2. US DATA COOLS MORE THAN EXPECTED
US job openings fell to 7.08 million in August from a revised 7.34 million in July, below the 7.2 million consensus and the lowest since March; layoffs also declined. The Conference Board consumer confidence index tumbled 6.7 points to 81.9 in September, the lowest since 2014 and below the 89.2 consensus. The softer signals run counter to expectations of steady US resilience and add to the debate over how quickly labor demand and consumer sentiment are cooling.

3. FED KEEPS OPTIONALITY ON RATES
New York Fed President John Williams said the Fed may raise rates once more this year but is in no rush to act. Market pricing for an October rate hike fell from roughly 70% to around 50% after the comments. The 2-year Treasury yield dropped 5.2 basis points to 4.885%; the US dollar index rose 0.19% to 101.38. Williams' remarks illustrate the Fed's balancing act between persistent inflation risks and growth concerns.

4. CHINA EASES POLICY AND BACKS HOUSING
The People's Bank of China cut the one-year PSL rate by 25 basis points from 1.75% to 1.50%, increased the sci-tech innovation and technology-transformation relending quota by 200 billion yuan and raised its support ratio from 60% to 100%, and added 500 billion yuan to agriculture and small-business relending quotas. China's finance ministry and regulators announced housing-loan interest subsidies effective October 1: an annualized 1-percentage-point subsidy for eligible first-home buyers, for homes no larger than 120 square metres and priced no higher than 1.5 million yuan, on loan principal up to 1 million yuan, for up to 5 years. The measures show Beijing strengthening credit stimulus and housing-market support.

5. OIL FALLS ON SUPPLY AND TALK HOPES
WTI crude for November settled down 3.48% at $89.38 a barrel; Brent for November settled down 2.56% at $102.59. Pressure came from US-Iran negotiation hopes, the US Department of Energy's plan to release up to 40 million barrels from the Strategic Petroleum Reserve, and Saudi Arabia's resumption of exports through the repaired East-West Pipeline. According to Kpler data, crude flows through the Strait of Hormuz and bypass routes recovered to about 80% of pre-war levels; according to some sources, mediators are working to restart US-Iran talks with an interim draft focused on lifting the blockade and opening the strait. The Iranian rial hit a record low beyond 2.5 million per US dollar. Texas declared a diesel-price emergency. OPEC+ delegates indicated the group is likely to maintain its production quota plan.

6. ASIAN MARKETS MIXED
Hong Kong's Hang Seng Index fell 0.48% to 24,523.57 and the Hang Seng Tech Index fell 1.08% to 4,249.62. In mainland China, the Shanghai Composite rose 0.18%, the Shenzhen Component rose 0.34% and the ChiNext rose 0.09%, with combined turnover of 1.41 trillion yuan. The divergence suggests steady onshore demand while Hong Kong-listed tech came under pressure.

7. CORPORATE AND TECH HIGHLIGHTS
OpenAI's annual recurring revenue is nearing $70 billion, with enterprise sales more than doubling since July and the revenue run rate up more than 70% since the start of the third quarter. President Trump signed an executive order to rename artificial intelligence as super intelligence in official government documents, unveiled a morally binding accord with tech leaders, and is considering a roughly 10-member committee to oversee AI. Apple's new chief Ternus is reportedly pushing internal reforms to speed up product development and streamline the organization.

Điều cần theo dõi hôm nay: China's official manufacturing PMI, Australia's August CPI, the US ADP employment report and August core PCE, and Micron earnings after the close.

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