2026-09-28 · Oil and yields rattle the open
An oil jump on top of a 19-year high in the 10-year yield pulled stocks lower, but the tape looks like rotation out of index leaders and toward beaten-up sectors, not a top.
The Signal
Stocks gave back most of Friday's gain and the Nasdaq 100 lagged, after the White House rejected Iran's ceasefire proposal and crude jumped back toward $100. The 10-year Treasury yield settled near 5.2%, a 19-year high, with the Fed hiking rather than cutting. Volatility stayed modest and small caps finished flat, and single-company stories did much of the damage: Boeing on 737 certification delays…
The skinny
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