Top U.S. Stories

  • Wall Street finishes the week higher. The Dow rose 423 points to 51,654.95, the S&P 500 gained 0.59% and the Nasdaq added 0.64%, with all three major averages posting weekly gains. Why it matters: The rebound came even as Brent settled higher and the 10-year Treasury yield edged up to 5.24%, showing stocks can still gain while high costs remain a risk.
  • Trump says no strike on Iran before the midterms. The president called talks with Tehran productive and said the U.S. will not attack Iran before the November 3 elections, while keeping the naval blockade in place.
  • SpaceX moves into mobile, carriers tumble. SpaceX agreed to acquire 800 MHz spectrum licenses to power Starlink Mobile. Verizon fell 8.75%, AT&T 9.81% and T-Mobile 13.27% on Friday. Why it matters: Investors are now treating satellite-to-phone service as a real competitive threat to the big three carriers, not a niche add-on.
  • Hurricane Isaias bears down on the Gulf Coast. The season’s first Atlantic hurricane had maximum sustained winds of 120 mph as of 2 p.m. ET Friday, with landfall expected Friday night near Pensacola, Florida.
  • Delta kicks off earnings season with a miss. Adjusted EPS of $1.72 fell short of estimates, and the airline cut its full-year outlook as fuel costs jumped 62%. Why it matters: It is the first hard look at how $90-plus oil is eating into corporate profits — bank earnings next week come next.

Compass Insight

This week was a tug-of-war between two costs: money and energy. The 10-year Treasury yield reached its highest level since 2002, and oil swung on every headline out of the Gulf. On Friday, Brent settled 0.4% higher and the 10-year yield edged up to 5.24%, yet stocks rallied. That shows earnings expectations can still support equities, even while the cost of capital and fuel remains a risk. For households, the message is mixed: mortgage rates have risen for seven straight weeks, while gas prices remain tied to a fragile geopolitical pause. In the short term, watch Isaias’s impact on Gulf production and next week’s bank earnings. Longer term, the question is whether yields above 5% become the new normal — and how long equity valuations can live with that.

Markets

Stocks in Focus

  • Verizon, AT&T, T-Mobile: Worst sessions in years after SpaceX’s spectrum deal (CNBC).
  • Delta Air Lines: Guidance cut on fuel costs (CNBC).
  • Moderna: Rose about 9% after a report on a public-private cancer vaccine initiative (Yahoo Finance).

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