US Equities · Pre-Open Briefing
Stocks dip on Fed odds and oil
September 24, 2026
The September 23, 2026 cash session, and what is scheduled today
The S&P 500 fell 0.76% to 7,706.03 and the Nasdaq Composite fell 0.69% to 26,936.04, with the Nasdaq-100 down 0.04%.
Breadth196 up / 306 down
LeadershipNasdaq-100 by 0.72pp
Member coverage100%
Futures now
Ahead of the open, S&P 500 futures are down 0.59%, Nasdaq 100 futures down 1.02%, Dow futures down 0.34% and Russell 2000 futures down 0.43% against their previous settlement. In Asia, the Nikkei 225 is up 0.76%, the Hang Seng down 0.29% and the Shanghai Composite down 1.22%. In Europe, the Euro Stoxx 50 is down 0.16%, the DAX down 0.28% and the FTSE 100 up 0.10%. Across markets, WTI is up 1.66% at 93.69, Gold is down 0.56% at 4,294.40 and EUR/USD is down 0.65% at 1.1374.
| Market | Level | Change | As of |
|---|---|---|---|
| S&P 500 futures | 7,726.75 | -45.75 (-0.59%) | 2026-09-24 |
| Nasdaq 100 futures | 30,450.25 | -314.50 (-1.02%) | 2026-09-24 |
| Dow futures | 51,696.00 | -177.00 (-0.34%) | 2026-09-24 |
| Russell 2000 futures | 2,847.80 | -12.40 (-0.43%) | 2026-09-24 |
Where the tape closed
S&P 500
7,706.03
-58.67 (-0.76%)
5d +1.59% · 1m +0.41%
Nasdaq Composite
26,936.04
-186.05 (-0.69%)
5d +3.67% · 1m +2.89%
Nasdaq-100
30,470.29
-12.06 (-0.04%)
5d +5.30% · 1m +3.96%
VIX
15.18
+0.31 (+2.08%)
5d -11.74% · 1m -4.23%
The Session
Of the 503 S&P 500 members that printed, 196 rose and 306 fell. Materials led the sector table at +0.91% on an equal-weighted basis and Financials sat at the bottom at -2.25%. Sandisk (SNDK) fell 3.73% and carried the largest share of the weighted index move. The VIX rose 2.08% to 15.18. Three universe names reported on the session.
World news
- US Treasury yields soar most since ‘liberation day’ tariffs shook marketsFinancial Times
- Yemen’s Houthis, Threatening Global Oil, Are Increasingly Supplied by ChinaWSJ World News
- Asian Markets Poised for Selloff as Surging Yields and Oil Reignite Fed Hike Betsfinance.biggo.com
- ETMarkets Smart Talk| Fed, dollar, crude, rupee: The four-way squeeze Indian markets need to watch, Sachin - The Economic TimesGoogle News IN
- Sunanda K. Datta-Ray | Why 100% Tariffs on India, China Unlikely - The Asian AgeGoogle News CN Trade
- U.S. Farmers Press China on Tariffs as Soybean and Grain Trade Faces a Critical Test - AgroLatamGoogle News CN Trade
Sector news breakdown
Information Technology
- Monolithic Power Systems MPWRSPXNDX +6.09%Monolithic Power Stock Jumped 8% to $1,380. Its Foundry Deal Is Why the Run Could Hold Key Stats for Monolithic Power StockCurrent Price: $1,380. 62Target Price (Mid): ~$2,463Street Target: ~$1,840Potential Total Return: ~102% (TIKR model, from its $1,217. TIKR · Sep 23, 10:08 AM ET
- Palo Alto Networks PANWSPXNDX +5.79%Why Palo Alto Networks (PANW) Stock Is Trading Up Today Shares of cybersecurity platform provider Palo Alto Networks (NASDAQ:PANW) jumped 3% in the afternoon session after the launch of its Unit 42 Continuous Frontier AI Defense, an agentic offensive security service designed to perpetually find and fix enterprise exposures. StockStory · Sep 23, 2:57 PM ET
- Seagate Technology STXSPXNDX +5.30%Seagate Retired Its 2028 Notes. Buybacks Are Next Key Stats for Seagate StockCurrent Price: $919. 84Target Price (Mid): ~$3,630Street Target: ~$1,125Potential Total Return: ~295% from the current price (~314% from the $877 model entry)Annualized IRR: ~34% / year from the current price (~35% from the $877 model entry)What Happened?Seagate… TIKR · Sep 23, 10:16 AM ET
- CrowdStrike CRWDSPXNDX +5.27%Why CrowdStrike (CRWD) Stock Is Up Today Shares of cybersecurity platform provider CrowdStrike (NASDAQ:CRWD) jumped 4.5% in the afternoon session as it broke out to a fresh 52-week high, extending a multi-session rally. StockStory · Sep 23, 3:05 PM ET
- Sandisk SNDKSPXNDX -3.73%Sandisk Stock Is Down More Than 20% Over the Past 3 Months. How You Should Play SNDK Here. Sandisk’s stock is down close to 20% over the past three months after its stellar run over the past year. Barchart · Sep 23, 6:34 AM ET
- Palantir Technologies PLTRSPXNDX +3.68%Palantir Could Be Big Winner as Air Traffic Control Goes AI. The Stock Is Rising. Palantir stock is slightly higher this year even as business growth accelerates. The FAA’s AI air traffic control system could be another revenue growth opportunity. Barrons.com · Sep 23, 3:31 PM ETWhy Palantir Stock Popped Today Up 76% in 3 months, can Palantir stock keep powering higher? Motley Fool · Sep 23, 11:49 AM ET
- Micron Technology MUSPXNDX -2.22%Michael Burry Shorts Micron, Palantir; Famed Investor Expects Chip 'Down Cycle' The famed investor added to bearish positions on Micron and other semiconductor stocks because he believes prices for AI chips will drop soon. Investor's Business Daily · Sep 23, 11:18 AM ETMicron keeps analysts bullish as memory demand strengthens Bank of America (BofA) and UBS retained their 'buy' ratings on Micron Technology Inc (NASDAQ:MU), with both firms pointing to sustained memory demand, improving pricing and potential shareholder returns as key drivers for the semiconductor company. BofA said the key issue ahead of Micron’s... Proactive · Sep 23, 1:35 PM ET
Communication Services
- Alphabet Inc. (Class A) GOOGLSPXNDX -3.80% · Alphabet Inc. (Class C) GOOGSPXNDX -3.58%Alphabet Drops 4%, Meta Edges Higher as AI Rotation Splits Big Tech; Microsoft Holds Flat Meta is surging while Alphabet slides hard, yet Microsoft sits completely unmoved and the broad tech funds are barely lower. That three-way split points to something more specific than a sector selloff, and the fund figures tell a story the headlines are missing. 24/7 Wall St. · Sep 23, 12:57 PM ET
- Meta Platforms METASPXNDX +1.02%Why Meta (META) Stock Is Up Today Shares of social network operator Meta Platforms (NASDAQ:META) jumped 1.7% in the afternoon session after early traction for its new Muse artificial intelligence agent continued to drive market optimism ahead of the Meta Connect conference. StockStory · Sep 23, 3:21 PM ETMeta’s Muse AI Agent Triggers Worries About Brokerage Stocks Concerns about AI have repeatedly sparked selloffs of shares of brokerage firms. On Tuesday, Meta’s Muse AI agent became the latest catalyst. Barrons.com · Sep 23, 3:36 PM ET
Consumer Discretionary
- Airbnb ABNBSPXNDX -10.35%Why Airbnb (ABNB) Shares Are Plunging Today Shares of online accommodations platform Airbnb (NASDAQ:ABNB) fell 6.2% in the afternoon session after Barron’s said Meta’s Muse can make bookings itself, which is the transaction Airbnb charges for when a guest reserves a home. StockStory · Sep 23, 2:17 PM ET
- Expedia Group EXPESPX -7.82%Expedia Stock Is Among Today’s Worst in the S&P 500. Blame Meta’s Muse. Meta’s Muse release has disrupted stocks of online travel booking platforms. Expedia was among those dropping on Wednesday. Barrons.com · Sep 23, 2:19 PM ETExpedia (EXPE) Stock Trades Down, Here Is Why Shares of online travel agency Expedia (NASDAQ:EXPE) fell 7.2% in the afternoon session after Barron’s Anita Hamilton wrote that Expedia, Booking Holdings, Tripadvisor, and Airbnb were falling because Muse can book flights and places to stay. StockStory · Sep 23, 2:33 PM ET
- Amazon AMZNSPXNDX -2.24%Amazon (AMZN) Puts Another $1.9 Billion Into its Delivery Network. The Cost of the Last Mile is Rising Amazon.com Inc (NASDAQ:AMZN) said on September 21 that it will invest $1.9 billion in its Delivery Service Partner program in 2027. Much of that goes to driver pay. Insider Monkey · Sep 23, 2:26 PM ET
- Darden Restaurants, Inc. DRISPX +1.13%Darden (DRI) Reports Q3: Everything You Need To Know Ahead Of Earnings Restaurant company Darden (NYSE:DRI) will be announcing earnings results this Thursday morning. Here’s what to look for. StockStory · Sep 22, 11:00 PM ETDarden sales momentum strengthens despite casual-dining slowdown Darden Restaurants Inc (NYSE:DRI) saw stronger aggregate sales momentum through August, prompting Bank of America (BofA) to raise its LongHorn forecast while cutting its Olive Garden estimate. The bank raised its estimate for LongHorn’s first-quarter fiscal 2027 same-store sales growth to... Proactive · Sep 23, 2:05 PM ET
Industrials
- Paychex PAYXSPXNDX -9.15%Why Paychex Stock Is Heading for Its Worst Day in More Than a Year Paychex falls after reporting softening revenue growth and stagnant guidance in its fiscal first quarter. Barrons.com · Sep 23, 12:46 PM ETWhy Paychex (PAYX) Stock Is Nosediving Shares of human capital management company Paychex (NASDAQ:PAYX) fell 8.9% in the morning session after the company reported its first-quarter fiscal 2027 financial results. StockStory · Sep 23, 1:41 PM ET
- Space Exploration Technologies Corp. SPCXNDX -4.11%Space investment more than doubled to $23 billion in year to June, report says By Akash Sriram Sept 23 (Reuters) - Private investment in space companies globally climbed to $23 billion in the year through June, more than double the $9.7 billion raised a year earlier, according… Reuters · Sep 23, 9:06 AM ET
- Cintas Corporation CTASSPXNDX -2.49%Cintas Raises Full-Year Outlook Following Fiscal First-Quarter Beat Cintas (CTAS) increased its full-year financial guidance as the uniform supplier reported better-tha… MT Newswires · Sep 23, 12:43 PM ETCintas beats estimates but stock edges lower Investing.com -- Cintas Corporation (NASDAQ: CTAS) reported first-quarter results that exceeded analyst expectations, though shares fell 1.2% premarket. Investing.com · Sep 23, 9:23 AM ET
Consumer Staples
- General Mills, Inc. GISSPX +1.04%General Mills Beats Earnings Estimates in ‘Volatile Environment.’ The Stock Is Falling. General Mills stock falls as consumer concerns outweigh the company’s better-than-expected earnings. Barrons.com · Sep 23, 9:56 AM ETGeneral Mills beats sales forecasts as consumers eat more meals at home General Mills Inc (NYSE:GIS, XETRA:GRM), the maker of Cheerios and Pillsbury products, reported first-quarter sales that beat analyst expectations, as stronger demand for cereal and other products consumed at home supported sales. The Minneapolis-based food company posted net sales of $4.39... Proactive · Sep 23, 8:46 AM ET
- Costco Wholesale Corporation COSTSPXNDX +0.69%Trump-Xi Meeting, Costco Earnings: What to Watch the Rest of the Week Wednesday Economic data: Manufacturing and services PMI, weekly mortgage applications survey, EIA weekly petroleum status report. Fed speaker: Fed governor Michael Barr due to speak at a housing-affordability conference. The Wall Street Journal · Sep 23, 4:28 AM ET
Moved more than 3% with no company-specific item clearing the relevance bar: GEN -10.02% · TPL -8.47% · GDDY -8.01% · ALL -7.08% · ILMN +6.93% · AMP -6.15% · ZBRA +5.75% · IR +5.41% · CDNS +4.81%.
The day ahead
Economic calendar
| Time | Release | Impact | Consensus | Previous |
|---|---|---|---|---|
| 08:30 ET | Current Account Balance | Medium | — | -226800000000.0 |
| 08:30 ET | Weekly Jobless Claims | Medium | — | — |
| 10:00 ET | New Home Sales Level | Medium | — | — |
| 10:00 ET | New Home Sales Month-over-Month | Medium | — | — |
Reporting today
Before the open: DRI (cons. 2.06)
After the close: COST (cons. 6.48)
Overnight and across markets
Asia and Europe
| Market | Level | Change | As of |
|---|---|---|---|
| Nikkei 225 | 65,513.99 | +495.04 (+0.76%) | 2026-09-24 |
| Hang Seng | 24,761.13 | -72.99 (-0.29%) | 2026-09-24 |
| Shanghai Composite | 3,888.37 | -48.15 (-1.22%) | 2026-09-24 |
| Euro Stoxx 50 | 6,289.78 | -10.04 (-0.16%) | 2026-09-24 |
| DAX | 25,340.35 | -70.28 (-0.28%) | 2026-09-24 |
| FTSE 100 | 10,715.78 | +10.48 (+0.10%) | 2026-09-24 |
Commodities, currencies and rates
| Market | Level | Change | As of |
|---|---|---|---|
| WTI crude | 93.69 | +1.53 (+1.66%) | 2026-09-24 |
| Gold | 4,294.40 | -24.00 (-0.56%) | 2026-09-24 |
| EUR/USD | 1.1374 | -0.0074 (-0.65%) | 2026-09-24 |
| USD/JPY | 158.86 | +1.40 (+0.89%) | 2026-09-24 |
| US 10-year yield | 5.01% | — | 2026-09-18 last print |
Where the indices sit
S&P 500 daily bars for the last 30 sessions, then three months of closes rebased to 100.
What carried the session
Proxy: dollar-volume share among members that printed, times the move. Not official index weight.
| Ticker | Name | Session | Contribution |
|---|---|---|---|
| SNDKSPXNDX | Sandisk | -3.73% | -11.1 bp |
| MUSPXNDX | Micron Technology | -2.22% | -10.9 bp |
| GOOGLSPXNDX | Alphabet Inc. (Class A) | -3.80% | -9.7 bp |
| NVDASPXNDX | Nvidia | -1.47% | -6.1 bp |
| GOOGSPXNDX | Alphabet Inc. (Class C) | -3.58% | -5.9 bp |
| PLTRSPXNDX | Palantir Technologies | +3.68% | +5.3 bp |
| AMZNSPXNDX | Amazon | -2.24% | -5.2 bp |
| METASPXNDX | Meta Platforms | +1.02% | +4.9 bp |
Breadth and sectors
Sector moves equal-weighted across members that printed.
| Sector | Average member move | Members |
|---|---|---|
| Materials | +0.91% | 25 |
| Information Technology | +0.15% | 74 |
| Health Care | +0.12% | 60 |
| Consumer Staples | +0.09% | 33 |
| Industrials | +0.07% | 83 |
| Consumer Discretionary | -0.79% | 47 |
| Energy | -0.99% | 21 |
| Real Estate | -1.58% | 30 |
| Communication Services | -1.79% | 23 |
| Utilities | -2.09% | 31 |
| Financials | -2.25% | 76 |
Largest moves
Risers
| Ticker | Name | Session |
|---|---|---|
| ILMNSPX | Illumina, Inc. | +6.93% |
| MPWRSPXNDX | Monolithic Power Systems | +6.09% |
| PANWSPXNDX | Palo Alto Networks | +5.79% |
| ZBRASPX | Zebra Technologies | +5.75% |
| IRSPX | Ingersoll Rand | +5.41% |
| STXSPXNDX | Seagate Technology | +5.30% |
| CRWDSPXNDX | CrowdStrike | +5.27% |
| CDNSSPXNDX | Cadence Design Systems | +4.81% |
Fallers
| Ticker | Name | Session |
|---|---|---|
| ABNBSPXNDX | Airbnb | -10.35% |
| GENSPX | Gen Digital | -10.02% |
| PAYXSPXNDX | Paychex | -9.15% |
| TPLSPX | Texas Pacific Land Corporation | -8.47% |
| GDDYSPX | GoDaddy | -8.01% |
| EXPESPX | Expedia Group | -7.82% |
| ALLSPX | Allstate | -7.08% |
| AMPSPX | Ameriprise Financial | -6.15% |
Earnings reported in the session
Beat and miss shown only where consensus and actual are both published.
| Ticker | Name | Slot | EPS est. | Reported | Surprise | Result |
|---|---|---|---|---|---|---|
| CTAS | Cintas Corporation | Before open | 1.35 | — | — | — |
| PAYX | Paychex, Inc. | Before open | 1.33 | — | — | — |
| GIS | General Mills, Inc. | Before open | 0.72 | — | — | — |
Headlines in the session window
Fed and macro
No high-impact US print on the calendar for this session or the next.
What to watch
Two universe names on the next earnings calendar (COST, DRI).
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