Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Trump to Ease U.S. Fuel-Economy Standards 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
China Consumer Stocks Near Decade Lows as AI Shares Surge 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Trump, Xi Focus on Trade and AI at White House Summit 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Add as a preferred source on Google
The MSCI global equities index fell on Monday, and the dollar rose after Federal Reserve Chair Jerome Powell suggested that the central bank was not in a rush to cut interest rates. Oil futures remained flat, with trading volatility driven by tensions in the Middle East.
Brent Crude Suffers Significant Losses for Month and Quarter
Brent crude, a global benchmark, recorded its largest monthly drop since November 2022 and its biggest quarterly loss in a year. It slumped 17% in the third quarter as fears over reduced global demand overshadowed concerns about supply disruptions from the Middle East.
U.S. Markets React to Powell’s Comments
Wall Street experienced a mixed session, with some investors expecting more substantial easing from the Fed. However, Powell’s suggestion of two 25 basis point rate cuts this year, if economic conditions align with expectations, indicated a more measured approach.
“There were some expectations for a 50 basis point cut by the end of the year. That comment probably took it off the table,” said Robert Phipps, director at Per Stirling Capital Management in Austin, Texas.
Wall Street Performance and Quarter-End Adjustments
Despite initial declines during Powell’s speech, U.S. indexes rebounded, driven partly by quarter-end adjustments to portfolios. The Dow Jones Industrial Average edged up 0.04% to 34,330.15, the S&P 500 rose 0.42% to 4,562.48, and the Nasdaq Composite increased 0.38% to 13,189.17. For the month, the S&P 500 gained 2.01%, and it rose 5.53% for the quarter.
Dollar Strengthens as Rate Cut Hopes Dim; Treasury Yields Rise
The dollar index, which measures the greenback against a basket of currencies, rose 0.32% to 100.76. The euro fell 0.27% to $1.1133, while the dollar strengthened 1% against the Japanese yen to 143.61. Treasury yields also rose, with the 10-year note yield up 3.6 basis points to 3.785%.
Energy and Precious Metals Market Update
In energy markets, U.S. crude closed at $68.17 per barrel, and Brent crude edged down 21 cents to $71.77 per barrel, marking its largest monthly drop since November 2022 and its biggest quarterly decline in a year.
Gold prices, after a strong rally, eased slightly with spot gold falling 1% to $1,831.39 an ounce, while U.S. gold futures declined 0.54% to $1,829.90 an ounce.
