Traders work on the floor at the New York Stock Exchange in New York City, U.S., Sept. 29, 2026.
Jeenah Moon | Reuters
The Nasdaq Composite sailed to a fresh all-time high as traders watched U.S. Treasury yields and digested new U.S. economic data.
The Nasdaq Composite was up more than 0.7% to hit as much as $27,399.81, or its highest level ever. Meanwhile, the Dow Jones Industrial Average last traded down 87 points, shedding nearly 0.2%. The S&P 500 ticked up about 0.4%.
The benchmark 10-year Treasury note yield was last up about 2 basis points to 5.298%, while the 30-year was rose 3 basis points at 5.659%. Both yields surged to multiyear highs in recent weeks, as traders fretted that inflation would lead the Fed to keep rates higher for longer.
Stocks and bonds moved as traders processed the Institute for Supply Management's latest report on economic growth in the services sector. The ISM report showed that the Purchasing Manager's Index grew 54.9% in September, or roughly in line with expectations. However, that figure came in modestly below the index's rate of growth for the previous month.
Investors are now turning their attention to other sources of information. On Wednesday, the Fed will release notes from its September meeting, potentially shedding light on its decision to hike rates by a quarter of a percentage point last month.
Traders also monitored oil prices, which were lower on Monday. Brent crude futures shed more than 0.7% to trade at $101.51 a barrel, while West Texas Intermediate crude was trading down 1% at $88.53 a barrel.
Stocks are coming off a week defined by surging Treasury yields and a surprisingly lackluster jobs report that helped ease concerns about another Fed rate hike this month. The data provided some relief after a week of pressure from rising bond yields.
"Despite a growing list of headwinds (e.g., geopolitics, higher rates), global equities have climbed c12% YTD and are just below all-time highs," wrote Citi strategist Beata Manthey. "Does this relative calm suggest equity fundamentals will prove resilient to ongoing macro shocks, or will stocks eventually need to correct to more accurately reflect the current risk backdrop? While uncertainty remains high, we still find ourselves in the 'resilience' camp for now."
RXO shares jump after C.H. Robinson agrees to $5.8 billion deal
C.H. Robinson Worldwide announced Monday that it would buyRXO in a stock-and-cash transaction for $5.8 billion. The freight forwarding firm is looking to expand its footprint in North America's truck brokerage business.
While shares of RXO surged more than 20%, C.H. Robinson shares dropped almost 12% in premarket trading.
Stock price for C.H. Robinson and RXO
RXO shareholders would receive $17.25 in cash and 0.0856 C.H. Robinson shares for each RXO share, valuing the company at $30.25 per share, a 29% premium to Friday's close.
The deal values RXO at $30.25 per share, a 29% premium to Friday's close. RXO shareholders will receive $17.25 in cash plus 0.0856 C.H. Robinson shares for each RXO share.
C.H. Robinson CEO Dave Bozeman expects the combination to generate roughly $300 million in annual cost savings within two years of closing.
Bozeman said the deal would allow the company "to create a more scaled, resilient North American third-party logistics provider positioned to offer exceptional customer service and redefine the future of our industry."
— Deena Zaidi
ISM services posts 54.9 in September as prices, jobs rise
The U.S. services sector saw growth in September largely in line with expectations, as both employment and prices saw gains, according to the Institute for Supply Management.
The ISM services index saw a 54.9 reading for the month, down just half a point from August and essentially in line with the Dow Jones consensus estimate for 55. The index measures the percentage of purchase managers reporting growth in their businesses.
Within the survey, the employment index rose 2.3 points to 50.1, right over the line indicating expansion. Prices rose 1.4 points to 74, putting the 12-month average at its highest since March 2023. New export orders plunged 9.4 points to 46.9, signaling contraction for the first time in eight months.
—Jeff Cox
2 Hours Ago
Stocks open mixed
3 Hours Ago
Harley-Davidson stock pops more than 5% following an upgrade by Citi
This photograph shows a logo on a motorcycle gas tank at a Harley Davidson dealer in Villiers-sur-Marne, eastern Paris, on September 17, 2022.
Julie Sebadelha | AFP | Getty Images
Shares of Harley-Davidson rose 5.7% Monday after it caught an upgrade from Citi.
The bank upgraded the motorcycle maker to buy from neutral. It also increased its price target on shares to $33 from $31, implying 34% upside from Friday's close of about $24 per share.
Citi analyst James Hardiman said Monday in a note to clients that the motorcycle company is likely to benefit from a major product introduction, cost savings and potential earnings tailwinds from the company's lineup of high performance electric motorcycles called LiveWire.
— Paulina Likos
3 Hours Ago
DraftKings' shares pop after Bank of America upgrade
Sopa Images | Lightrocket | Getty Images
Bank of America upgraded DraftKings' rating to buy from neutral on Monday, stating the company's prediction markets are a "win-win" even under regulatory uncertainty.
"While the regulatory future of PMs remains uncertain, we think DKNG is well positioned either way. If PMs stay, DKNG has established itself as the #3 player," said Analyst Julie Hoover. The analyst added they see prediction markets as a "less cannibalization risk."
Hoover estimates prediction markets can generate $400 million of fees in 2027 and between $200 and $400 million from market making.
Shares gained over 5% for the company following the upgrade.
— Ananya Chetia
3 Hours Ago
DraftKings, PTC among the stocks making big moves premarket
PTC — The software name surged 36% after the company agreed to being acquired by Schneider Electric for $205 per share, valuing the company's equity at more than $22 billion. The transaction is expected to close by the third quarter of 2027.
DraftKings — Shares for the digital sports entertainment and gaming company popped over 5% after a Bank of America upgrade to buy from neutral. Bank of America's Julie Hoover said the company's prediction markets are a "win-win", expecting prediction markets can generate $400 million in fees for 2027 and between $200 to $400 million in market making.
— Fred Imbert
4 Hours Ago
PTC surges after announcement it will merge with Schneider Electric
The Schneider Electric booth at the Hannover Messe 2026 trade fair in Hannover, Germany, on Monday, April 20, 2026.
Krisztian Bocsi | Bloomberg | Getty Images
Schneider Electric announced on Monday it has agreed to acquire software company PTC, in an all-cash transaction that values the latter company at $22.6 billion.
Shares of PTC, a U.S.-based company, soared by almost 36% on the news of the merger with the Schneider, which is based in France. The companies anticipate that the merger will close by third quarter 2027, according to a release.
PTC CEO Neil Barua said the acquisition represents an "incredible opportunity to elevate the scope and impact of what we deliver for our customers globally. We gain substantial scale and resources to accelerate innovation, advance our Intelligent Product Lifecycle vision, and expand our business into more geographies and end markets to serve more customers."
— Davis Giangiulio
4 Hours Ago
Brazilian stocks rally after presidential vote
This combination of file pictures created on Sept. 29, 2026, shows Brazil's President Luiz Inacio Lula da Silva at the Planalto Palace in Brasilia on Sept. 16, 2026; and Brazil's right-wing Presidential candidate Flavio Bolsonaro at the Maracanazinho gymnasium in Rio de Janeiro, Brazil, on Aug. 22, 2026.
Evaristo Sa | Mauro Pimentel | Afp | Getty Images
Brazilian stocks rallied in early trading Monday following the results of the country's presidential election on Sunday.
The iShares MSCI Brazil ETF (EWZ) surged 13% in the premarket. Brazil-based Itau Unibanco and Banco Bradesco were also up more than 12%.
Right-wing candidate Flavio Bolsonaro, son of former president Jair, received 47% of the vote — edging out incumbent Luiz Inacio Lula Da Silva by around 2 percentage points, according to Reuters. With no candidate obtaining more than 50% of the vote, a runoff will be held Oct. 25.
EWZ 5-day chart
— Fred Imbert
6 Hours Ago
Cut spending to curb runaway borrowing costs, Goldman’s Gutman tells governments
A more stable policy backdrop encompassing lower government spending and stronger economic growth is needed to curb surging borrowing costs, Anthony Gutman, co-CEO of Goldman Sachs International, said on Monday.
Speaking with CNBC's "Squawk Box Europe," Gutman said rising government bond yields are a challenge across the Western world, highlighting recent turmoil in U.S. Treasurys and French government bonds.
7 Hours Ago
Schneider Electric sinks 7.6% after 'opportunistic' $22.6 billion PTC acquisition deal
Sheldon Cooper | Lightrocket | Getty Images
France's Schneider Electric tumbled 7.6% just after the European markets opened after announcing it will buy U.S. software group PTC in a $22.6 billion deal, which is being described as "opportunistic," by analysts.
Schneider said Monday morning that it expects to complete the acquisition by the third quarter of 2027 in an all-cash deal at $205 per share — a 42% premium to its last closing price.
Citi analysts said in a note that this is Schneider's "largest deal yet," but it shouldn't come a surprise due to its previous attempted acquisitions, including Aveva and Bentley Systems.
"The deal may be seen as opportunistic — 'SaaSpocalypse' fears have led to the de-rating of many industrial software companies on AI disruption fears — and the onus will be on Schneider to show how the combined software and hardware offering fortifies its moat," the analysts said.
They added that given the size of the deal, investors should ask for increased disclosure on the details of the "enlarged software business within Schneider."
— Sawdah Bhaimiya
8 Hours Ago
Spain’s PM Sanchez calls snap election after housing crisis protests
A journalist watches Spanish Prime Minister Pedro Sanchez's televised statement to call early elections in Madrid on October 5, 2026.
Thomas Coex | Afp | Getty Images
Spanish Prime Minister Pedro Sánchez called a snap election for Nov. 29 on Monday after Congress rejected measures intended to quell public anger over the country's housing crisis.
8 Hours Ago
Japan's Nikkei 225 closes 2.4% higher, Australia stocks end flat
Japan's Nikkei 225 closed 2.40% higher at 69,946.86, while Australia's benchmark S&P/ASX 200 ended flat at 8,686.40.
Hong Kong's Hang Seng index was marginally higher as of its last hour of trade on Monday.
Markets in mainland China and South Korea are closed for holidays.
—Justina Lee
8 Hours Ago
European stock markets open Monday's session higher
German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, Dec. 30, 2025.
Staff | Reuters
The pan-European Stoxx 600 started the new trading week in positive territory, with the continental benchmark up 0.5% shortly after 8:00 a.m. in London (3:00 a.m. E.T.).
In London, the U.K. FTSE 100 rose 0.45%, with France's CAC 40 adding 0.15% in Paris.
In Frankfurt, the German DAX advanced almost 0.1%, as the Italian FTSE MIB moved 0.11% higher in Milan.
Among regional sectors, chemicals led the way in early trade, up 1.93%, while basic resources advanced 1.06%, as most sectors moved higher. Construction was the sole laggard, sliding 0.19%.
—Hugh Leask
8 Hours Ago
Euro hits 17-month low as political uncertainty in Spain and France rattles markets
The euro hit its weakest level against the U.S. dollar in 17 months on Monday, as concerns over the political trajectories of two of the euro zone's biggest economies spill over into wider markets.
The eurozone currency was last 0.6% lower against the greenback, hitting its lowest level since May 19, 2025, according to LSEG data.
That comes as the euro zone grapples with a simultaneous rise in inflation, interest rates and government borrowing costs.
9 Hours Ago
Schneider Electric buys PTC for $22.6 billion in all-cash deal
France's Schneider Electric has agreed to buy PTC in an all-cash deal for $205 per share, valuing the U.S. software group's equity at about $22.6 billion.
The transaction is expected to close by the third quarter of 2027, Schneider Electric said on Monday.
Schneider Electric shares are down by around 4.7% on Tradegate ahead of the open, compared to Friday's close.
9 Hours Ago
Euro hits 17-month low as fiscal fears mount
The euro was 0.6% lower against the U.S. dollar in early London hours, hitting its lowest level against the U.S. dollar since May 19, 2025, according to LSEG data.
Investors nerves over a cocktail of rising euro zone inflation, higher interest rates, weak growth and growing fragmentation in the bond markets are hurting the shared currency.
Barclays economists in a Friday note highlighted France's volatile fiscal and political outlook, which they said "cloud the euro area outlook."
Euro/U.S. dollar
— Jenni Reid
13 Hours Ago
Hong Kong shares fall 0.5%, mainland China markets remain closed for a holiday
Hong Kong shares fell early Monday, weighed by declines in tech and consumer cyclical stocks, down 0.32% and 0.13%, respectively.
Mainland China markets are closed for a holiday.
—Justina Lee
15 Hours Ago
Japan's Nikkei 225 jumps at open, Australia's ASX 200 also gains
Asia-Pacific markets traded higher early Monday.
Japan's Nikkei 225 added over 1.7%, while the broader Topix rose 0.79%.
Australia's benchmark S&P/ASX 200 was 0.53% higher.
Markets in mainland China and South Korea were closed for holidays.
—Justina Lee
16 Hours Ago
Japan's Nikkei 225 set to open open higher; China and South Korea markets closed for a holiday
Asia-Pacific markets were set to open broadly higher on Monday, as a recovery in oil flows from the Middle East boosts sentiment, though elevated Treasury yields keep investors on edge.
as concerns over surging Treasury yields slightly eased as investors look forward to minutes later this week from the U.S. Federal Reserve's latest meeting regarding the central bank's next interest rate move.
Japan's Nikkei 225 was poised to rise, with the Chicago futures contract at 69,830 and its Osaka counterpart last trading at 69,760, compared with the index's previous close of 68,309.46.
Futures for Australia's S&P/ASX 200 last traded at 8,746, while the index closed at 8,711.50.
Hong Kong Hang Seng index futures were last at 23,831, compared with the index's last close of 23,972.29.
Markets in mainland China and South Korea are closed for holidays.
Over in the Middle East, tensions continue to simmer between the U.S. and Iran. Mohammad Bagher Ghalibaf, Iranian parliament speaker, said the Strait of Hormuz would not reopen until its conditions for ending the war with the U.S. were met.
Meanwhile, the U.S. Air Force withdrew all of its B-1 bombers stationed at a UK air base in southern England that has been used by American military forces to strike Iran, following an investigation that discovered a planned terror attack, according to the Associated Press.
—Justina Lee
17 Hours Ago
Stock futures open flat
Stock futures were little changed to begin trading Sunday evening.
Futures tied to the Dow Jones Industrial Average added 53 points, or 0.1%. S&P 500 futures and Nasdaq-100 futures also rose 0.1% each.
— Tanaya Macheel
