2026-09-29 · A Flat Close Hiding Bad Data
Consumer confidence hit a 12-year low and the 30-year yield a 24-year high, yet the index barely moved, because a handful of giants are carrying it while most stocks keep bleeding.
The Signal
The S&P 500 and the Dow slipped, the Nasdaq 100 was the only major index in the green, and small caps lagged. Conference Board consumer confidence fell to a 12-year low and job openings declined, yet the 30-year Treasury yield hit a 24-year high and markets still price a good chance of another Fed hike in late October. Oil eased as Saudi exports resumed, reserve barrels were released and US-Iran talks…
The skinny
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