Tues., Oct. 27, 2026
[4:10 PM ET…closing prices for stocks, 3:50ish for commodities and bonds]
Tale of the Tape at the gas pump, nationwide averages, courtesy of AAA.
Fri., Feb. 27…regular $2.98…diesel $3.75
Tues., Oct. 27…regular $4.26…diesel $6.35
Crude oil fell below $100 around noon ET today, Brent under $114, while heating oil futures fell hard to $4.77 (off of yesterday’s intraday high of about $5.05), amid, yes, you’re hearing it again, ‘renewed diplomatic efforts’ that raised hopes of ending the U.S.-Iran war and easing pressure on energy markets.
Iran’s Supreme Leader Mojtaba Khamenei called for an end to the current state of ‘neither war nor peace,’ signaling a possible opening for negotiations. Officials from Saudi Arabia, Pakistan and Turkey met in Tehran yesterday, as I noted in Monday’s update, and agreed to continue discussions, while Russian President Vladimir Putin was expected to meet Iran’s President Pezeshkian and Qatar’s emir in Moscow.
So, while there are hopes for de-escalation, significant risks remain. A Saudi-led coalition reported intercepting drones and ballistic missiles launched by the Houthi rebels, while Hezbollah was reportedly preparing for renewed conflict in Lebanon.
And then you have Israel’s big election, where turnout is said to be at record numbers. It’s basically a referendum on Prime Minister Netanyahu.
Many experts are still talking about renewed warfare in Iran following both the Israeli vote and the U.S. midterm elections next Tuesday.
But a reminder, for those who don’t follow elections in Israel, politics there are very fragmented and no single party has ever won an outright parliamentary majority, so whether it is Netanyahu or his prime opponent, former military chief Gadi Eisenkot (I like what I’ve seen from this man), they have to forge a coalition and this can take weeks, even months.
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One economic data point today of note…new single-family home sales in the U.S. fell 0.6% month-on-month to a seasonally adjusted annual rate of 676,000 in September, better than expected but down from a revised eight-month high of 680,000 in August.
But tomorrow is Fed Day, as well as Hump Day, as the GEICO camel would say.
Stocks finished up, despite a 10% decline in Dow component Boeing on disappointing delivery news; bonds largely unchanged ahead of the Fed.
Tonight, Game 4 of the World Series, the Brewers looking for a sweep and their first title in franchise history.
What a stunning performance last night by the Brew Crew in the fifth inning of Game 3 against the Rays, Milwaukee batters with seven two-out hits, the most in one inning in World Series history, part of a stunning 8-run onslaught that propelled them to a 10-1 win. Starter Robert Gasser did his part, too…six innings, one hit.
But this just in…according to Reuters and multiple Brazilian median reports, right-wing presidential candidate Flavio Bolsonaro is on a flight to the United States, after a Supreme Court justice ordered him to surrender his passport as part of a criminal investigation into Bolsonaro’s alleged involvement in a money laundering scheme. Donald Trump supported Bolsonaro, as he did in the case of Flavio’s corrupt father.
Dow Jones +15…+0.03% [52377]
S&P 500 +45…+0.6% [7722]
Nasdaq +308…+1.2% [26477]
Oil (WTI) $100.25…Brent $114.25
Gold $4060
Silver $54.40
Bitcoin: $80,724 [4:00 PM ET]
U.S. 2-yr. 4.73%
U.S. 10-yr. 4.99%
Japanese 10-yr. 2.79%
Back Wed.
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Brian Trumbore
