Market Pulse - Wednesday, Sept. 23

Hopes for a US–Iran deal keep oil under pressure

Iran has offered to reopen the Strait of Hormuz within a week, and Trump calls the talks "very productive." Brent is slipping for a sixth straight session to about $98.5, and WTI is at about $90.

Wall Street

Nasdaq: +0.45% to 27,244, a second record close in a row

S&P 500: flat at 7,765

Dow: –0.36% to 51,864

AI stocks led the gains, while banks lagged after hawkish Fed comments.

Asia

Kospi: +1.3% to about 7,100 on chip stocks

Hang Seng: –1.0% to 24,846 as tech takes profits

Shanghai: –0.3% to 3,939 ahead of the Trump–Xi summit

ASX 200: +0.1%, helped by miners

Tokyo: closed for a holiday

FX

EUR/USD: 1.1446

GBP/USD: 1.3337

USD/JPY: 157.5. The yen is still under pressure, and the risk of Japan stepping in to support it is rising

100.6

Gold: $4,359 (–0.1%)

Silver: $67.35 (+0.5%)

Bitcoin: $86,300 (–0.3%)

Fed's Barkin warns that supply shocks "aren't proving short-lived" and keeps more rate hikes on the table.

Today

16:45: US flash PMIs (manufacturing and services)

17:05: Fed's Barr speaks