Fed Speakers and Economic Data Close the Week 25/09/2026
Market Wrap
U.S. stocks finished little changed Thursday, with the Dow falling for a third straight session as multidecade-high Treasury yields continued to pressure cyclical shares.
The Dow Jones Industrial Average dropped 162 points, or 0.31%, to 51,349.98. The S&P 500 slipped 0.02% to 7,704.13, while the Nasdaq Composite edged 0.01% higher to 26,939.37.
Stocks recovered from session lows following reports that U.S. and Iranian negotiators were discussing a potential phased agreement aimed at easing the Middle East conflict, including reopening the Strait of Hormuz in exchange for an easing of U.S. economic pressure.
Still, oil prices and bond yields remained elevated, keeping inflation concerns firmly in focus. Brent crude climbed more than 3% to above $106 a barrel, while West Texas Intermediate rose 2.7% to $94.61. The 30-year Treasury yield reached 5.501%, adding pressure to borrowing costs and rate-sensitive parts of the economy.
Oracle (ORCL) was among the session's notable laggards, falling 3.5% following a report that the company invoked force majeure protections related to potential delays at a New Mexico data-center project.
For the week, the Dow is down 0.6% and heading toward a fourth consecutive weekly decline. The S&P 500 is up 0.7%, while the Nasdaq has gained 1.6%.
Attention turns to Friday's University of Michigan consumer sentiment report and durable-goods data as investors continue to assess the outlook for inflation, interest rates and economic growth.
Xi Calls for U.S.-China Cooperation on AI After Trump Meeting
Chinese President Xi Jinping called for greater U.S.-China cooperation on artificial intelligence following his meeting with President Donald Trump at the White House, arguing that the technology offers more room for collaboration than confrontation.
According to a Chinese state-media readout cited by CNBC, Xi said the two countries should continue their AI dialogue, exchange views on the technology's risks and benefits, and work together to prevent its misuse. He also stressed that humans should remain in control of increasingly powerful AI systems.
AI has emerged as a key issue in the U.S.-China relationship as the two countries compete for leadership in advanced chips and artificial intelligence. Washington has restricted China's access to some advanced semiconductors, while officials from both countries have begun discussing potential mechanisms for managing AI-related risks.
The talks gained momentum this week, with senior U.S. and Chinese trade negotiators holding discussions on artificial intelligence and the U.S. proposing an alert system for serious AI incidents.
The discussions signal that AI is increasingly becoming both a strategic battleground and a potential area of cooperation between the world's two largest economies.
Stocks on the Move
- Darden Restaurants (DRI): Shares fell 6.6% after fiscal first-quarter results came in roughly in line with expectations. Earnings were $2.05 per share, while revenue of $3.20 billion narrowly missed the $3.21 billion consensus estimate. The company reaffirmed its full-year guidance.
- MGM Resorts International (MGM): Shares tumbled more than 9% after Barry Diller's People withdrew its proposal to acquire the casino operator. Diller said the deal was not coming together as expected but maintained his confidence in MGM, where he still holds 66.8 million shares.
- BlackBerry (BB): Shares gained 2% after second-quarter results beat expectations. Adjusted earnings of 7 cents per share topped the 4-cent estimate, while revenue of $163.3 million exceeded the $142.5 million consensus.
- Meta Platforms (META): Shares slipped 2%, pulling back after gaining nearly 12% earlier this week on optimism surrounding its Muse AI agent. CEO Mark Zuckerberg also unveiled the $1,299 Meta VR Glasses and Muse Charm.
Watchlist: ORCL, MSTR, MSFT, META, NVDA, SPCX, MU, AAPL, TSLA, COIN, XOM
Key Economic Events Today
Economic Data (EST)
- 05:15 AM — USD FOMC Member Williams Speaks
- 08:30 AM — USD Core Durable Goods Orders
- 09:20 AM — USD FOMC Member Schmid Speaks
- 10:00 AM — USD Consumer Sentiment, Inflation Exp.
- 02:00 PM — USD FOMC Member Hammack Speaks
Earnings
No significant earnings today.
