By William Collins, consultant in stock markets – Eurasia Business News, September 22, 2026. Article no 3182
U.S. stocks finished mixed on Tuesday, September 22, as falling oil prices helped technology shares extend their rally and pushed the Nasdaq Composite to another record high. Brent crude settled below $100 a barrel as Saudi Arabia restarted a key export pipeline, easing immediate fears of a prolonged Middle East supply disruption.
The Nasdaq Composite gained 0.4% and reached its second straight all-time high, while the S&P 500 ended little changed. The Dow Jones Industrial Average fell about 0.3% to 0.4%, dragged lower by weakness in financial and more economically sensitive stocks.
The market split reflected the influence of two powerful themes: renewed enthusiasm for artificial intelligence and an easing energy-risk premium. Lower crude prices reduced inflation anxiety and helped Treasury yields move lower, providing fresh support for high-valuation technology stocks.
Nasdaq Sets Another Record
The Nasdaq Composite closed at 27,231.59, up 0.4%, setting a new record. The index was lifted by gains in Micron Technology and other AI-linked companies as investors renewed their confidence in demand for chips, data-center infrastructure and advanced computing capacity.
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The S&P 500 was essentially unchanged, hovering near its own record, while the Dow slipped 0.4%. The uneven performance showed that the rally remained concentrated in large technology and semiconductor shares rather than spreading evenly across all sectors.
The technology rebound follows a brief mid-September selloff, when investors questioned whether calls by some AI leaders to slow frontier-model development could reduce demand for chips and computing infrastructure. That caution faded as enthusiasm returned around Meta’s recently launched Muse AI assistant and expectations for corporate AI investment remained robust.
However, not all technology shares benefited. Some software companies viewed as most exposed to competition from AI agents declined, as investors worried that increasingly capable autonomous tools could disrupt established software subscriptions and professional-services business models
Oil Prices Drop Below $100
Brent crude settled at $99.25 a barrel, down 1.1%, after dropping as low as about $97.60 during the session. U.S. West Texas Intermediate crude declined 1.24% to $94.59 a barrel. The oil market has now registered its longest losing streak since June, with Brent falling for five straight days.
The decline was driven by improving signs of supply availability in the Middle East. Three sources briefed on the matter said Saudi Arabia had restarted operations at its East-West Pipeline, a key route that carries crude from Saudi oil fields to the Red Sea port of Yanbu and allows exports to bypass the Strait of Hormuz.
The pipeline was shut after drone attacks on September 13 interrupted flows and halted crude loadings at Yanbu. Reports indicated that the system had restarted at a low pumping rate, with partial capacity potentially reached within days. A full restart could take between six and eight weeks.
| Oil benchmark | September 22 price | Daily change |
|---|---|---|
| Brent crude | $99.25 per barrel | -1.1% |
| Brent intraday low | About $97.60 per barrel | Down as much as 3% |
| U.S. WTI crude | $94.59 per barrel | -1.24% |
Saudi Arabia’s ability to resume exports from Yanbu would restore an important alternative supply route at a time when shipping through the Strait of Hormuz remains vulnerable. The prospect of additional Saudi crude reaching world markets reduced the geopolitical risk premium that had driven Brent above $109 earlier in September.
Trump Weighs Diesel Export Restrictions
President Donald Trump addressed the United Nations General Assembly in New York and said his administration was considering restrictions on diesel exports to ease record U.S. fuel prices. Average U.S. diesel prices reached a record $6.53 per gallon, highlighting how disruptions in crude flows and refining markets can affect consumers even as oil futures decline.argusmedia+1
A possible diesel-export ban could have mixed effects. It might increase domestic supply and restrain U.S. retail prices, but it could tighten diesel availability in countries that import American refined products. Energy traders will watch closely for details, including whether any restriction would be temporary, targeted or broad-based.
Treasury Yields and Wednesday’s Agenda
Lower oil prices helped pull global bond yields down. Investors viewed the retreat in energy markets as a modest reduction in inflation risk, offering relief after the Federal Reserve’s recent rate increase and the earlier rise in the 10-year Treasury yield above 5%.
On Wednesday, Wall Street will focus on three developments:
- General Mills earnings: The packaged-food company is expected to report fiscal first-quarter earnings of about $0.72 per share on revenue near $4.35 billion.
- MBA mortgage data: The weekly report will offer an updated view of mortgage rates, purchase applications and refinancing demand.
- Market follow-through: Investors will assess whether the Nasdaq’s record-setting rally can broaden beyond chips and AI-linked technology companies.
Tuesday’s session delivered a powerful reminder that oil and technology are driving markets in opposite directions. The return of Brent crude below $100 has eased pressure on bond yields and supported growth stocks. But the durability of the rally will depend on continued progress in restoring Middle East oil flows, the outlook for U.S. fuel policy and whether AI optimism remains strong enough to offset weakness in other parts of the market.
Spot gold traded near $4,363.30 per troy ounce late on September 22.
Gold traded in a relatively wide intraday range of $4,290.70 to $4,376.90 per ounce, a spread of about $86.20. The session ended with bullion holding close to the upper half of that range, suggesting that buyers returned after earlier volatility.
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The modest rise in gold came as Brent crude prices fell below $100 a barrel and U.S. technology shares rallied. Lower oil prices can ease immediate inflation expectations, while geopolitical uncertainty and changing expectations for U.S. interest rates continued to support safe-haven demand for bullion. The price shown is a live spot-market quote; gold futures settlements and dealer prices may differ.
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© Copyright 2026 – Eurasia Business News. Article no. 3181
