Stock Market Recap — Sep 25, 2026
US stocks rise on Hormuz hopes before Trump rejects Iran proposal
Hopes for progress on reopening the Strait of Hormuz lifted US stocks and lowered oil prices, but a later report cast doubt on a near-term deal. Inflation concerns kept pressure on longer-dated Treasuries despite the retreat in energy prices. In company news, AI infrastructure spending offered both a demand catalyst and a credit warning. • Oil/Equities: US crude fell 2.3% to $92.41, and the S&P 500 gained 0.51% amid unconfirmed reports that US-Iran discussions had reached a technical stage. Later, the WSJ reported that Trump rejected an Iranian proposal to reopen Hormuz in exchange for lifting the US port blockade. No market reaction to that report was confirmed. • Rates/Inflation: The 30-year Treasury yield reached 5.53% after year-ahead consumer inflation expectations rose to 4.6% from 4%. The 10-year yield closed at 5.18%, below its earlier high; stronger core capital-goods orders pointed to resilient investment. • Oracle/Credit: Oracle sought to defer full rent at its New Mexico AI campus over power and permitting obstacles, though it said the project remained on schedule. Its bond spreads widened. • Nvidia/AI: Elon Musk outlined xAI chip additions that could more than double its Nvidia fleet by year-end, subject to execution. • Chemicals/M&A: BASF confirmed exploratory takeover talks with Evonik, with no deal assured.
Intraday Updates
- 01:54 ET: Hong Kong stocks slide after Trump-Xi summit yields no trade specifics (81 stories)
- 06:39 ET: Oracle seeks rent deferral as Musk outlines more Nvidia chips for xAI (68 stories)
- 11:30 ET: Thirty-year Treasury yield hits 5.53% after inflation expectations rise (94 stories)
- 16:22 ET: US stocks rise after oil falls on unconfirmed US-Iran talks (58 stories)