2026-09-22 · Tech Holds the Record, Money Rotates
The Nasdaq 100 notched another high as oil slid on Iran diplomacy, but the typical stock kept falling, and the clearest signals were warnings on stretched quality names like VeriSign and Thermo Fisher.
The Signal
The S&P 500 finished flat, the Dow slipped and the Nasdaq 100 made another new high, extending a run carried by a handful of tech giants. Crude slid again after President Trump signaled openness to meeting Iranian officials at the UN and an Iranian official said Hormuz could reopen within a week if the blockade lifts. The Fed's first hike since 2023 has the two-year yield at its…
The skinny
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