Other than tech bros. warning about AI wiping out humanity, continued drone strikes by Ukraine against Russian oil refineries, chaos in the Middle East, and U.S. gas prices at a national average of $4.36, there really wasn't much to get excited about in terms of stocks.
There is some concern in the treasury market, with the 10-year note presently yielding 4.97% and the 30-year flipping off 5.35%, but who would want to earn interest at those rates when inflation is running at three, four, or five percent, depending on whose stats you like?
That brings us to the FOMC meeting which concludes today with a rate poicy announcement at 2:00 pm ET. The consensus is that the Fed will increase the federal funds target rate by 25 basis points (0.25%), to 3.75-4.00%, numbers that have Wall Street stock junkies all lathered up and ready to jump ship.
Whether the Fed pumps the rate higher will be found out later today.
Stocks fell for the sixth time in the last seven sessions, the only day that the majors moved ahead was Friday, September 11. Touching.
Futures are higher for some unknown reason. It seems as if - with all the turmoil in the world and in finance - there would be nothing to be even remotely positive about this morning, but those slick traders in the futures market must know better, like Treasury Secretary Scott Bessent, with his asymmetrical insights.
Is anybody else sick of all the nonsense?
Money Daily will be back after 2:00 pm ET to assuage the situation post-FOMC.
At the Close, Tuesday, September 15, 2026:
Dow: 52,093.11, -328.09 (-0.63%)
NASDAQ: 25,981.57, -204.84 (-0.78%)
S&P 500: 7,585.73, -34.25 (-0.45%)
NYSE Composite: 24,128.46, -76.93 (-0.32%)
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