Markets face rising Treasury yields and weak breadth as investors look ahead to earnings, inflation and jobs data. Plus, AI, robotics and U.S. manufacturing are driving new investment across defense and technology. Later, SpaceX’s Starship launch and next generation Starlink satellites could reshape the space economy and AI infrastructure.<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Markets, AI and rising yields test the outlook 9/28/26

Morning Call

[SPEAKER_03] The rate run-up continues. I'm Morgan Brennan, and this is your Morning Call. Morning. Let's get a check on U.S. stock futures, which are under pressure right now. You can see right there on your screen, the S&P poised to open down 34 points, the Dow 224 points,

[SPEAKER_03] the Nasdaq 297 points. This after Wall Street's best week since August, at least for the S&P and the Nasdaq. We had a Friday rally. Treasuries, though, are very much in focus this morning, and that is part of what is pressuring futures in equities right now. Take a look at what's happening with yields. We don't only remain at multi-decade highs here, and you can see yields are higher across the curve. The U.S. 10-year Treasury yielding 5.22 percent now. That is the

[SPEAKER_03] highest we've seen since 2002. The 30-year Treasury, 5.53 percent. I believe that is also the highest since 2002. And the Fed-sensitive two-year Treasury yielding 4.91 percent. This as energy continues to climb this morning, we're monitoring the latest around Iran and possible ceasefire talks. Are they happening or are they not happening? The door seems to be open, despite some rejections from President Trump over the weekend. We'll have much more on that in just a moment. But as you can see

[SPEAKER_03] right there on your screen, WTI is up almost 3.5 percent right now, $95.50 a barrel, give or take. Brent crude is also up 3.7 percent, trading around $108 a barrel. Our Bob gasoline, heating oil contracts all spiking this morning as well, natural gas under a bit of a pressure. Let's see how Europe and Asia are shaping up, though. And Karen Cho is in London with all of that.

Markets, AI and rising yields test the outlook 9/28/26

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Markets, AI and rising yields test the outlook 9/28/26

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.