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10-22-2026: Oil Breaks Higher, AI Capex Worries + Yields Retreat Below 5%
6m 25s
Michael Reinking, Senior Market Strategist at the NYSE, reviews a volatile week as the S&P 500 held near its 100-day average around 7,600 amid AI capex worries. Brent crude rose over 4% to new highs on tanker attacks and a US order for non-emergency personnel to leave Saudi Arabia. Tech reversed its early-week bounce as another data center IPO flopped, while industrials and transports showed resilient demand. Treasuries caught a flight-to-safety bid, with yields down over 10bps and the 10-year back below 5% for the first time in a month. Looking ahead, Fed, ECB, and BOJ rate decisions, Q3 GDP, PCE, and earnings from over 40% of the S&P 500 mark a big week.