Stock Market Recap — Oct 7, 2026
Stocks pare losses after Treasury auction draws strong demand
Higher borrowing costs pressured equities, but robust demand for Treasuries limited the closing damage. Renewed energy-supply risks kept the inflation outlook unsettled, while company-specific developments produced sharp divergences. • Stocks/Rates: The 10-year Treasury yield touched 5.36%, its highest since 2002, before a strong $39 billion auction helped pull it back to 5.276%. The S&P 500 and Nasdaq pared losses to close down 0.2%; the Russell 2000 fell 1.3%. Fed minutes showed most officials favored another increase by year-end, without urgency for October. Mortgage rates reached 7.49%, adding pressure to housing. • Energy Supply: After the US close, a tanker attack near Qatar heightened shipping risks, and Brent rose 1% to $101.24 in early Asian trading. US Gulf storm shutdowns exceeded 510,000 barrels daily. European diesel futures rose 4.5% after the IEA clarified that accelerated releases would use previously pledged stocks rather than additional supplies. • Deere Inquiry: Deere fell as much as 5.7% after the FTC and USDA opened an inquiry into potentially anticompetitive practices. • Levi Earnings: Levi gained 5.8% after hours as tariff refunds boosted earnings and the company raised full-year adjusted EPS guidance to $1.54–$1.56 from $1.46–$1.52.
Intraday Updates
- 02:45 ET: Shell’s refining margins hit record as India raises interest rates (51 stories)
- 07:22 ET: US mortgage rates jump to 7.49% amid renewed Treasury selling (100 stories)
- 12:00 ET: US stocks retreat amid fresh 24-year highs in Treasury yields (100 stories)
- 17:00 ET: Stocks pare losses after strong Treasury auction (68 stories)
- 21:38 ET: Tanker attack deep in Persian Gulf heightens energy-supply risks (55 stories)