Morning Preview: September 24, 2026

Early Look

Thursday, September 24, 2026

Soaring Treasury yields sunk stock markets on Wednesday as the 30-year yield hits highest levels since 2007 as did the 10-year Treasury yield (rising 13 bps to highs of 5.14%) and the 2-year yield came whiskers shy of 5% for its highest levels in 2 years. The Nasdaq meanwhile broke its 4 day losing streak as the Nasdaq 100 (QQQ) pulled back off closing all-time highs the day prior. The U.S. dollar rose alongside yields, as the DXY hit its best levels since the end of July as FOMC interest rate hike expectations grow amid better economic data/rising inflation fears with oil and diesel prices impacting consumers. Well this morning, more of the same as U.S. stock futures slide further amid another rise in yields/oil prices extend gains. The 10-year Treasury yield rose 3.3 basis points to 5.15%, while the 30-year yield gained 4.1 basis points to 5.44%. The 5-year yield rose 2.9 basis points to 5.03%, and the 2-year yield edged up 0.3 basis points to 4.91%. In Asian markets, The Nikkei Index gained 495 points to 65,513 as it reopened after three day holiday, the Shanghai Index fell -48 points to 3,888, and the Hang Seng Index dropped -72 points to 24,761. In Europe, the German DAX is down -57 points to 25,353, while the FTSE 100 is up 13 points to 10,718. A moderately busy day of data with weekly jobless claims and New Home Sales and a $44B 7 year Treasury auction, which follows a weak 5-yr auction Wednesday.

• The Dow Jones Industrial Average fell -352.10 points, or 0.68%, to 51,511.59
• The Nasdaq Composite dropped -308.24 points, or 1.13%, to 26,936.04
• The Russell 2000 Index declined -51.26 points, or 1.77% to 2,838.67

• 8:30 AM ET                  Continuing Claims…est. 1.745M
• 10:00 AM ET                New Home Sales M/M for August…est. 615K (prior 607K)
• 10:30 AM ET                Weekly EIA Natural Gas Inventory Data
• 11:00 AM ET                Kansas City Fed manufacturing for September
• 1:00 PM ET US Treasury to sell $44B in 7-year notes

• Earnings After the Close: COST LGCY SCHL

• Bernstein 3rd Annual Healthcare Forum, 9/23-9/24, in New York, NY
• DA Davidson 25th Annual Diversified Industrials & Services Conference, 9/23-9/26, in Nashville, TN
• Oppenheimer Insurance Summit 9/24 (virtual)
• Sidoti Smallcap Conference, 9/23-9/24 (virtual)
• TD Cowen 3rd Annual Energy Conference, 9/23-9/25, in Austin, TX
• Truist Healthcare Technology & Digital Health West Coast Bus Tour, 9/23-9/24, in San Francisco, CA

• The U.S. oil industry is urging President Trump not to ban diesel exports, arguing that such a move would not solve the fuel supply shortage driving diesel prices to record highs. Industry groups warned that there are no quick fixes to the crisis and cautioned that export restrictions could further disrupt energy markets ahead of the midterm elections – Financial Times.
• Japan’s 10-year bond yield hits 30-year high following sell-off in Treasurys; surged to near two-decade highs across the curve. Earlier this month, Japan’s Benchmark borrowing costs reached highest level in three decades.
• The bull-bear spread in the American Association of Individual Investors (AAII) weekly survey was -15.4% vs -24.6% last week. Bulls rose to 32.7% to from 28.8%, Neutrals rose to 19.2% from 17.9%, Bears fell to 48.1% from 53.3%.
• Sweden’s central bank kept its key interest rate unchanged at 1.75% as expected but said stronger growth and the risk that inflation will pick up in the months ahead meant a hike would probably come sooner than previously expected.

• J M Smucker Co (SJM) files for mixed shelf offering; size not disclosed
• MGM Resorts (MGM) shares fall after Barry Diller’s People Inc (PPLI) withdrew its proposal to purchase all public shares of MGM. People Inc, which owns a ~27% stake in MGM, had proposed to buy remaining shares for $48.30 each, valuing company at more than $18 billion.
• StitchFix (SFIX) Q4 revs rose 4.2% y/y to $324.4M vs. est. $325.5M, while net loss narrows to (-$2.1M); Q4 EPS loss (-$0.02) narrower than estimate loss (-$0.06); guides Q1 revs $323M-4328M vs. est. $360.7M; guides year revs $1.31B-41.36B vs. est. $1.4B; said Q4 Active clients fell -1.4% y/y to 2,277,000, while net revenue per active client rose 7.8% to $592

• HB Fuller (FUL) Q3 adj EPS $1.52 tops consensus $1.47 as revs rise 5.2% y/y to $938.18M vs. est. $945M; Q3 gross margin widened to 33.2% from 32%; said pricing actions are offsetting higher raw material costs; guides FY EPS $4.70-$4.85 vs est. $4.85 with Ebitda seen $655M-$670M; backs year view for cash flow from ops and sees FY26 pricing up MSD and volumes down LSD.

• TransUnion (TRU) announced that CFO Todd Cello will step down after 29 years with the company, including nine years in the role. Cello will remain CFO through December 31, 2026, and serve as a full-time advisor through March 1, 2027, to support the transition.

• Gossamer Bio (GOSS) submits new drug application to U.S. FDA for seralutinib for the treatment of pulmonary arterial hypertension; FDA to determine NDA Acceptance for filing later this year.
• Grail Inc. (GRAL) shares remain halted after an FDA panel endorsed a blood test designed to spot signs of various cancers in apparently healthy people while warning that it’s far from clear how well it works. The FDA advisory panel voted 7-2, with one abstention, that the DNA-based test offers more potential benefits than risks such as causing false assurances or raising false alarms.
• Regenxbio (RGNX) says Sarepta (SRPT) to pay $39M within 10 days of effective date while the company agrees not to sue Sarepta or affiliates over existing Elevidys or aavrh74-based capsids; all ongoing patent litigation regarding patents-in-suit to be terminated with prejudice.
• Viking Therapeutics (VKTX) announced its intention to offer, subject to market and other conditions, $200M of common stock and $200M aggregate principal amount of convertible senior notes due 2032.
• Watch shares of gene editing companies Beam Therapeutics (BEAM), CRISPR Therapeutics (CRSP), Intellia Therapeutics (NTLA), Prime Medicine (PRME), Q32 Bio (QTTB), after Anthropic said its Claude AI model had “autonomously discovered” a new enzyme system similar to the gene-editing tool CRISPR..

• Everpure (P) shares rise after unveiled a broader growth strategy and issued a preliminary FY2028 outlook above analyst expectations. Everpure expects FY2028 revenue of $7B-$7.3B, implying 39%-45% growth and above the $6.37B consensus estimate, while non-GAAP operating income is projected at $1.7B-$1.9B, up 80%-100%. For FY2027, the company reaffirmed revenue guidance of $5.03B-$5.07B
• Google (GOOGL) is nearing the launch of its next-generation Gemini 4 AI model, DeepMind chief Koray Kavukcuoglu announced Wednesday during The Information’s AI Agenda Live Summit. The development comes as the company races to catch up with competitors Anthropic and OpenAI.
• Meta Platforms (META) introduced a small handheld AI device called Meta Charm at its Connect event Wednesday, extending the company’s hardware push beyond smart glasses. The roughly Apple AirPods-case-sized device has an approximately 2-inch OLED touchscreen and built-in 5G, with shipments expected in December; Meta has not disclosed pricing.
• Nebius (NBIS) was upgraded to Outperform from Neutral at BNP Paribas and raised tgt to $399 from $260.
• SoftBank Group (SFTBY) raised $11.1 billion in dollar- and euro-denominated bonds in the largest high-yield corporate bond sale globally on record. The deal is the latest example of how AI investments have led to a surge in corporate borrowing this year.
• Australia said on Thursday an OpenAI agent breached a government health data portal in June, gaining unauthorized access to files, in what could be the first known instance of an AI agent hacking a government website