US stocks hit records, yields rise on October 6 2026

1. US STOCKS HIT RECORDS DRIVEN BY TECH
The Dow Jones rose 90.94 points, or 0.18%, to 51,267.90; the S&P 500 added 51.23 points, or 0.66%, to 7,773.95; the Nasdaq Composite jumped 286.45 points, or 1.05%, to a record close of 27,477.31. Top movers included Nvidia +2%, SpaceX +7.63% after Morgan Stanley set a $300 price target, and RXO +22% after C.H. Robinson agreed to acquire it for $5.8 billion. The gains came despite rising bond yields, signaling continued investor appetite for technology and AI.

2. US TREASURY YIELDS REACH HIGHEST SINCE 2002
The 10-year yield rose about 3.5 basis points to 5.311%; the 2-year yield climbed to 4.831%; the 30-year yield advanced to 5.664%, after touching 5.70% intraday, the highest since 2002. Fed futures priced a 76.2% chance of a rate hold in October, while the odds of another hike by December remained in the mid-80% range. Elevated yields are creating pressure on risk assets and emerging-market currencies.

3. US SERVICES EXPAND, PRICES SURGE
The ISM services PMI for September came in at 54.9, just below the 55.0 consensus but still above 50; the prices paid sub-index jumped to 74.0, the highest since July 2022. S&P Global’s final September services PMI printed 58.8; chief business economist Chris Williamson said US business growth in Q3 likely points to GDP around 4%. The data reinforce expectations that the Fed may delay easing.

4. DOLLAR UP, EURO WEAK, BRAZILIAN REAL RALLY
The Dollar Index rose 0.19% to 102.11; EUR/USD fell as low as 1.1160, its weakest since May 2025 amid French fiscal concerns and Spain’s snap election, before recovering to around 1.1222; USD/JPY traded near 155.97. The Brazilian real strengthened about 4.1% to 5.0015 per USD, and Brazil’s stock index jumped nearly 8%, after right-leaning candidate Flavio Bolsonaro unexpectedly led the first round of the presidential election. Russia’s Finance Ministry also said it will sharply increase foreign exchange and gold purchases.

5. OIL FALLS, METALS RISE, GOLD LITTLE CHANGED
WTI November crude fell 1.84% to $89.43/barrel; Brent December crude fell 1.89% to $100.32/barrel. Saudi Aramco cut its November Arab Light official selling price to Asia to a discount of $5/barrel versus the regional benchmark, the lowest in six years, signaling looser prompt supply. Oil flows through the Strait of Hormuz recovered to about 14.2 million bpd, roughly 80% of pre-war levels; Saudi Aramco’s CEO warned inventories are “worryingly low” if Hormuz remains closed. LME copper +1.1%, aluminium +0.9%; December gold settled down 0.12% at $4,166.01/oz.

6. ASIA MIXED, VIETNAM REBOUNDS
The Hang Seng Index rose 0.28% to 24,040.34; the Hang Seng Tech Index gained 0.62% to 4,183.68; mainland Chinese A-shares were closed for the National Day holiday. Vietnam’s VN-Index rebounded 15.5 points, or 0.9%, to 1,753.2 on thin liquidity; technical analysts see a possible recovery toward 1,780 but have not confirmed a trend reversal. In Hong Kong, semiconductor and AI-related sectors outperformed, while property, airlines and pharmaceutical names lagged.

7. EUROPE ADDS POLITICAL RISK, SPAIN CALLS SNAP VOTE
Spanish Prime Minister Pedro Sanchez announced a snap general election for November 29, 2026; the CAC 40 fell 1.11%, the Euro Stoxx 50 slipped 0.17%, while the FTSE 100 rose 0.15%. The France-Germany 10-year spread hovered around 140-150 basis points, near levels last seen during the 2011-12 euro crisis. The added political uncertainty is weighing on the euro and could make investors more cautious toward European assets.

8. GEOPOLITICAL TENSIONS: YEMEN, IRAN, HORMUZ
Yemeni government forces claimed they recaptured the port city of Mokha and the Bab el-Mandeb Strait; the Houthis warned airlines to avoid Saudi airspace, calling it a “military operations theater”. US Treasury Secretary Bessent said Iran loaded no crude onto tankers last month; Iranian President Pezeshkian called negotiations with the US “meaningless”. These claims have not been independently confirmed and reflect opposing views; the next reaction from Saudi Arabia and Gulf states could affect global energy shipping.

What to watch today: Whether the US 10-year yield holds near 5.3% and how oil prices react to new statements concerning the Strait of Hormuz.

*Information is compiled for reference, reflecting multiple sources at the time of publication.*