The US stock market opened Tuesday’s trade, September 22, higher, as the tech rally extended, while a decline in crude oil prices also lent support, pushing the Nasdaq 100 index to another record high of 30,674. The S&P 500 and Dow Jones Industrial Average were each up 0.2%.
AI-linked stocks have been among the biggest drivers of the market in 2026, helping major indices reach multiple record highs despite ongoing geopolitical tensions. The rally pushed Advanced Micro Devices above the $1 trillion market capitalisation mark in the previous session, with its shares up more than 180% so far in 2026.
More recently, Wall Street has also received support from a sustained decline in crude oil prices and a modest retreat in Treasury yields.
Monday’s decline in oil prices further eased pressure from the bond market. The yield on the 10-year US Treasury fell to 4.95% from 5.01% late Friday, after crossing above the 5% threshold last week for the first time since 2023.
Global investors are also gearing up for a summit between US President Donald Trump and Chinese President Xi Jinping later this week. Officials from the two countries concluded their second day of talks in New York on Monday, seeking to advance negotiations ahead of Xi’s visit to the US.
Crude oil extends losses
Crude oil prices remained at losses for the fifth trading session on Tuesday after reports that Iran had offered to reopen the Strait of Hormuz within seven days if the US eases military pressure and lifts its blockade of Iranian ports.
The development raised hopes of fewer disruptions along a key global oil shipping route.
Brent crude erased gains of as much as 2.5% to trade at $97.8 per barrel, its lowest level in two weeks.
Iran has offered to reopen the Strait of Hormuz within seven days if the US takes initial steps toward easing military pressure, a senior Iranian government official told Kyodo News on Tuesday, as part of Tehran’s ramped-up efforts to revive negotiations with Washington, Reuters reported.
The development came amid reports that US President Donald Trump was open to meeting Iranian President Masoud Pezeshkian, who is in New York for the UN General Assembly.
The US-Iran conflict has driven crude prices sharply higher this year, adding to inflationary pressures globally and complicating the outlook for central banks. The Federal Reserve and other major central banks have been closely monitoring the impact of energy prices on inflation and interest-rate policy.
(With inputs from agencies)
(Disclaimer: We advise investors to check with certified experts before making any investment decisions.
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