Markets
Oil crossed $104 and the Nasdaq fell with the chip stocks.
The S&P 500 lost 0.5 percent Thursday, its second straight drop after a record. The Nasdaq fell 1.3 percent. Brent crude topped $104 a barrel as the Middle East kept the tape uneasy.
The Rocket News · Economy Desk · New YorkOctober 9, 2026 · 3 min read
NEW YORK — The S&P 500 fell 36.41 points, or 0.5 percent, to 7,765.36 on Thursday, the Associated Press reported, a second straight loss after the index had set a record. The Dow Jones industrial average rose 51.77 points, or 0.1 percent, to 51,231.64. The Nasdaq composite fell 345.35 points, or 1.3 percent, to 27,193.34. The Russell 2000 was nearly unchanged.
Oil did the shoving. Brent crude topped $104 a barrel as prices swung on supply and on the war. Yields jumped in the morning and fell in the afternoon. Chip stocks were the other weight. Reuters reported that semiconductor shares fell after the Financial Times said OpenAI’s annualized revenue was $20 billion less than the company had previously signaled. The chip index dropped 3.4 percent. The president’s promise not to strike Iran before Nov. 3 did not settle the price.
The S&P 500 fell 0.5 percent Thursday, its second straight loss after a record.
The photograph is a driver at an American pump, the place the oil price lands. It is not the Nasdaq screen. The Economy desk files Thursday’s close. Friday’s open is not in this note.
Wire and further reading: apnews.com
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Markets
Wall Street pulled back from its record.
A day after the S&P 500 closed at 7,818.93, the index was lower at midday. The 10-year yield rose to 5.31 percent. Brent was back at $101.26. The Fed’s September minutes were still ahead.
Hollywood
Paramount closed its $110 billion deal for Warner Bros.
The combined company is called Skydance and trades as SKYD on the New York Stock Exchange. David Ellison is chief executive. Ynon Kreiz, late of Mattel, will run the day to day. The debt is about $80 billion.
The Federal Reserve
Markets see the Fed skipping an October increase.
Employers added 29,000 jobs in September, and unemployment rose to 4.2 percent. After Friday’s report, traders put the chance of an October rise at about one in six.