Commonground
Senior Moderator
TUESDAY, SEP 15, 2026 - 05:49 PM
- US stocks closed lower again on Tuesday, with the Nasdaq and Russell underperforming, while the equal-weight S&P fell 0.4%. Calls for a slowdown in AI development remained an overhang for sentiment, although the SOXX and DRAM ETFs were marginally firmer following their sharp declines on Monday. Sectors were predominantly in the red, with weakness led by Consumer Discretionary, Communication Services and Utilities, although Energy bucked the trend as crude prices rallied amid fresh supply concerns after Libya's NOC said operations had been suspended at three oil fields, while Saudi Arabia reportedly informed some European refiners that their September crude cargo loadings had been cancelled. Oil loadings were also reportedly suspended at the key Saudi Red Sea port of Yanbu following the recent attack on the East-West pipeline.
- USD was firmer amid the broad risk-off sentiment and surging oil prices, to the detriment of its G10 peers. Dollar-specific newsflow was sparse ahead of the pivotal FOMC decision, where money market pricing is leaning towards a 25bps hike, although such a move is not quite a foregone conclusion.
- Looking ahead, highlights include New Zealand Current Account, Japanese Trade Data & Machinery Orders, Australian MI Leading Index, Supply from Australia.