SPY is trading 0.5% higher on September 25, 2026, as falling oil eases immediate inflation and geopolitical pressure after reports of U.S.-Iran discussions to reopen the Strait of Hormuz.

  • WTI fell below $93 and Brent approached $105; Treasury yields eased modestly from Thursday’s levels.
  • Durable-goods orders beat expectations, offsetting weaker consumer sentiment. The Nasdaq and Dow also rose in a broad index-level risk-on move. Elevated yields near 5.18% remain a significant constraint on equity valuations.