Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Trump, Xi Focus on Trade and AI at White House Summit 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Fed Unveils Stablecoin Rules Under GENIUS Act 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
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The Nasdaq Composite closed at a record high Friday, boosted by Microsoft and Tesla as Wall Street awaited the Federal Reserve’s policy meeting next week. Investors widely expect the Fed to cut interest rates by 25 basis points to counter a cooling labor market and easing inflation.
Microsoft gained 1.8% after avoiding a hefty EU antitrust fine by offering reduced prices for Office without Teams. Tesla surged 7.4% after board chair Robyn Denholm dismissed concerns that CEO Elon Musk’s political activity hurt sales, emphasizing Musk’s active role at the company. Despite the rebound, Tesla shares remain down 2% in 2025.
The Nasdaq rose 0.45% to 22,141.10, while the S&P 500 slipped 0.05% to 6,584.29. The Dow Jones Industrial Average fell 0.59% to 45,834.22. Declines in Goldman Sachs and Sherwin-Williams weighed on the Dow, while healthcare and materials led losses across seven of 11 S&P sectors.
The University of Michigan’s survey showed U.S. consumer sentiment dropped for a second month in September, reflecting concerns about inflation, jobs, and business conditions. Futures markets now anticipate total rate cuts of 75 basis points by year-end.
For the week, the S&P 500 rose 1.6%, the Dow gained nearly 1%, and the Nasdaq advanced 2%, supported by a resurgence in artificial intelligence stocks after Oracle’s upbeat forecast. Warner Bros Discovery jumped 17% following reports of a potential takeover bid from Paramount Skydance.
Vaccine makers struggled, with Moderna dropping 7.4% and Pfizer and Novavax losing over 3% after reports linked COVID-19 vaccines to child fatalities.
Overall, declining S&P 500 stocks outnumbered advancers 3.3 to 1. The index posted 22 new highs versus 3 new lows, while the Nasdaq recorded 106 new highs and 43 new lows.
