Top U.S. Stories

  • Trump rejects Iran’s Hormuz proposal. Tehran, via Qatar, offered to reopen the Strait of Hormuz and restart nuclear talks within seven days if Washington agreed. On Saturday, President Trump told reporters outside the White House that he had rejected the proposal. Iran’s President Masoud Pezeshkian, meanwhile, said Iran would allow U.N. nuclear inspectors as part of a potential long-term ceasefire. Why it matters: Last week’s oil slide was built on hopes of a phased reopening. Monday’s open will show how much of that optimism survives.
  • Jobs report is the week’s main event. The September employment report lands on Friday, October 2. The Fed raised rates on September 16 for the first time in over three years, to a 3.75%–4% range. Why it matters: A hot number would feed bets on more hikes, with the 10-year yield already near 5.2%.
  • Supreme Court lets citizenship checks proceed for now. States may resume using a revamped federal voter-eligibility database to check citizenship ahead of the November elections.
  • CNN left off Air Force One. The White House signaled CNN would be excluded from the president’s Saturday trip, the latest step in an ongoing media dispute.
  • Gaza roadmap. Hamas leader Khalil al-Hayya said the roadmap it accepted runs through to Palestinian statehood and must be implemented “as a package,” though gaps with Israel over sequencing and disarmament remain wide.

Compass Insight

Markets spent last week pricing in a thaw. WTI crude fell nearly 8% and the Nasdaq rose about 2%, largely on hopes that Hormuz would reopen. Saturday’s rejection does not end diplomacy — Tehran is talking about inspectors and Oman is offering to mediate — but it removes the near-term timeline markets had leaned on. That leaves stocks carrying two weights at once: renewed oil risk and Treasury yields at levels last seen in 2007. In the short run, watch crude on Monday and Friday’s jobs data. Over the longer run, the question is whether AI-driven earnings growth can keep outrunning a higher-for-longer rate world.

Markets

Figures are Friday, September 25 closes; weekly change is versus September 18.

  • Dow: 51,828.62, +0.93% on the day, +0.28% on the week
  • S&P 500: 7,743.41, +0.51%; week +1.21%
  • Nasdaq: 27,068.72, +0.48%; week +2.06%
  • WTI crude: $92.41, -2.33%; week -7.87%
  • 10-year Treasury yield: 5.16%
  • USD/JPY: 157.59 (ECB reference rate, Sept. 25)
  • Nikkei 225: 66,364.20, fifth straight gain

Stocks in Focus

  • Akamai (AKAM) rose about 3% Friday after announcing a multiyear deal with Anthropic.
  • Energy names head into Monday with the Hormuz rejection reversing part of last week’s reopening narrative.
  • Japanese chip stocks such as Tokyo Electron and Advantest led Tokyo’s rally on Friday.

Sources:

Auto-generated and AI-written. Not investment advice.