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News of the day for Sept. 24, 2026

Stocks are pointing to a lower open Thursday as markets extend a pullback from record highs set earlier in the week; Treasury yields are around 2007 levels amid worries about inflation and rising oil prices; talks between President Donald Trump and Chinese President Xi Jinping are set to begin today in Washington, D.C.; Meta last night unveiled new versions of its AI glasses in a keynote speech by CEO Mark Zuckerberg; and Costco is set to report earnings after the closing bell.

Here’s what you need to know today.

Stock futures are sinking Thursday morning as inflation and rate-hike fears have dragged markets from record highs set earlier in the week. Futures tracking the Dow Jones Industrial Average and S&P 500 were recently down 0.3% and 0.6%, respectively, while Nasdaq 100 futures were down nearly 1%. The major indexes finished in the red yesterday as the tech rally that pushed the Nasdaq Composite to two days of record closes stalled. Crude oil futures are up about 1% to around $93 a barrel. The 10-year Treasury yield is rising to 5.13% after soaring nearly 15 basis points yesterday. Gold futures are down nearly 1% to $4,290 an ounce. Bitcoin is trading at $83,500, below recent highs of $87,400.

The 10-year Treasury yield was recently at 5.13% and earlier today hit 5.15%, marking a new high since the summer of 2007. Investors worry that inflation caused by higher oil and gas prices could persist for months and force the Federal Reserve to raise interest rates again. John Williams, president of the New York Fed, yesterday at an event in London called it “likely that another rate hike may be appropriate by the end of the year,” based on the current sentiment among investors. With just over a month until the next Fed meeting, the CME Group’s FedWatch tool currently shows that traders are pricing in a 75% chance of a rate hike at that meeting, up from 55% a week ago and just 11% a month ago.

Investors will be keeping an eye on Washington, D.C. today, as Chinese President Xi Jinping is in the nation’s capital to meet with the Trump administration. The sides are expected to meet today and tomorrow, with hopes that some agreements on key topics like tariffs, the Iran war, and AI development could come out of the talks. Treasury Secretary Scott Bessent said yesterday the U.S. and China had agreed to extend a monthslong trade truce into at least January to give them more time to work out a long-term deal. Experts anticipate that the meeting will result in the lowering of some of the tariffs the countries have placed on each other’s imports since Trump took office.

Meta Platforms (META) stock is trending lower following CEO Mark Zuckerberg’s keynote address at the company’s annual Connect conference last night. Zuckerberg unveiled new versions of the company’s smart glasses, including an audio-only version that followed criticism that those with cameras might record others without consent. He also laid out upcoming features for Meta’s new Muse personal AI agent, including the ability to talk to Muse directly. Meta will also release a wearable pendant, the Muse Charm, that will bring the AI agent to a wearable form. Meta shares are down about 2% ahead of the opening bell after rallying in the days leading up to the event.

Investors are set to get fresh insights into the health of the American consumer, with quarterly results from Costco Wholesale (COST) set to be released after the closing bell. The warehouse retail giant is expected to report $94.85 billion in fiscal fourth-quarter revenue, up 10% year-over-year, along with earnings of $6.52 per share, up from $5.87 a year ago. Other key metrics include comparable store sales, expected to have grown by nearly 9%, and the size of Costco’s membership base, seen coming in at roughly 84.7 million, up from about 81 million a year ago. Shares are little changed premarket, entering the day up about 5% for the year. Inflation worries have weighed on shares in recent months.

• Berkshire Hathaway has been growing its bet on the U.S. housing market, at a time when homebuilders are warning affordability headwinds could weigh on the sector’s outlook.
• The conglomerate recently raised its stake in Lennar, and acquired Taylor Morrison earlier this year.

Some of America’s largest homebuilders are warning about headwinds to the U.S. housing market. That’s not stopping Berkshire Hathaway from boosting its bets on the sector.

The investment conglomerate has been expanding its exposure to the housing market, recently upping its stake in Lennar (LEN), which sent shares of the homebuilder surging this week. Berkshire (BRK.A, BRK.B) also announced a deal to buy Taylor Morrison earlier this year, in its first major deal under new CEO Greg Abel.

Shares of companies in the sector may be looking like a bargain after a big pullback in recent months. Even after this week’s Berkshire-fueled rally, Lennar shares have dropped a third from their highs in January. Two of the biggest exchange-traded funds focused on the sector, the iShares U.S. Home Construction ETF (ITB) and the SPDR S&P Homebuilders ETF (XHB), have fallen roughly 20% from their February highs, amid worries about sluggish demand and rising costs as the war in Iran drags on.

KB Home (KBH) executive chair Jeffrey Mezger said during last night’s earnings call that rising borrowing costs and stubborn inflation are making Americans “more cautious about buying a home,” according to a transcript provided by AlphaSense. The company warned affordability concerns would weigh on its current-quarter outlook.

Lennar CEO Stuart Miller told investors in an earning call last week that “when families are paying more at the pump and more for electricity, their willingness to make the largest financial commitment of their lives moderates, even when their underlying desire to own has not changed at all.”

• Two days of trade talks between President Donald Trump and his counterpart Xi Jinping, begin Thursday.
• Experts expect the two sides to reduce tariffs against one another and further extend a truce in the trade war that has upended international commerce since 2025. 
• Major breakthroughs on trade issues, or a breakdown in the truce, would come as a surprise to experts who expect the summit to be mostly uneventful.

Leaders of the world’s two largest economies are meeting this week in Washington, and experts expect some agreements to come of the two-day summit that begins Thursday.

Back in May, President Donald Trump met with his Chinese counterpart, Xi Jinping, in Beijing. Now, the Chinese leader is returning the favor, visiting the U.S. capital for a round of negotiations on thorny issues such as trade, tariffs, Taiwan, the war against Iran, and the development of AI technology. Experts expect some agreements, but see no signs of major breakthroughs. 

The meeting is the latest opportunity for the two leaders to change the course of a trade war that has roiled the global economy. In 2025, President Donald Trump ratcheted up tariffs against China and restricted the export of U.S. technology. China retaliated by restricting the supply of crucial minerals it controls, which are needed for high-tech manufacturing. The two sides agreed to a trade truce last May, which has prevented further rounds of tit-for-tat measures, at least until it expires in November.

The trade talks could impose some stability on a relationship that has caused a great deal of uncertainty for companies that do business on both sides of the Pacific in recent years. 

Experts expect that truce to be extended, possibly for another six months, paving the way for further negotiations and meetings at international gatherings later this year. 

“Both sides have an incentive to extend it,” Melanie Hart, senior director of the Global China Hub at the Atlantic Council think tank, wrote in a commentary. “While there are divergent views in Washington regarding how far to extend the truce, the two presidents will likely agree to a six-month extension.”

The heavy tariffs that both countries have levied on one another’s products could be reduced. As of late July, after Trump’s latest round of import taxes, the U.S. was charging a 36.5% tariff on Chinese products, and China a 31% tariff on American imports, according to the Congressional Research Service.

“Tariff reductions are almost certain,” Hart wrote. “The two sides are referring to this as the ‘30 by 30’ deliverable: each side will remove existing tariffs on thirty billion dollars of imported goods. This announcement is so widely expected that if it is derailed, it will indicate something has gone horribly wrong.”

The talks, brief as they are, are not expected to yield results on issues where the two sides have major disagreements. However, the talks will keep the relationship on a more stable and predictable footing than it was a year ago, Louise Loo, head of Asia Economics at Oxford Economics, wrote in a commentary.

Also on the table are relatively minor trade deals, including Chinese agreements to buy American airplanes and soybeans. 

“More substantive deliverables are possible, but are likely to remain concentrated in areas where concessions are relatively easy to reverse,” Loo wrote.

Aside from that, any major agreements would come as a surprise to experts. 

“I expect very little to come out of this,” Scott Kennedy, trustee chair at the Center for International and Strategic Studies think tank, said last week in a webcast. “I think it may be essentially a photo op of Xi Jinping visiting the White House, having a day of conversations and then heading off.”

• McDonald’s plans to invest up to $8.5 billion by 2036 to help franchisees modernize restaurants and improve operations.
• The company said greater efficiency could boost the average U.S. restaurant’s annual cash flow by $100,000.

McDonald’s said it plans to spend billions of dollars over the next decade to improve restaurants. Shareholders don’t seem too keen on the idea.

McDonald’s (MCD) shares were down nearly 6% in recent trading, leading Dow Jones Industrial Average decliners after the company unveiled the plan and other initiatives at its investor day Wednesday.

McDonald’s told shareholders it will offer $8.5 billion in support through 2036 to help franchisees “accelerate restaurant modernization, technology deployment and operational improvements.”

The fast-food chain said it believes improvements in efficiency could mean “roughly $100,000 in annual cash flow benefits for the average U.S. restaurant, the majority of which is expected to benefit the restaurant’s bottom line over time.”

The Chicago-based company also said it expects a low-to-mid 50% operating margin range by 2030, and that it’s targeting “1.5 percentage points of market share gains in both chicken and beverage categories by 2030 while maintaining its leadership position in beef.”

With Wednesday’s drop, McDonald’s shares have lost more than 20% of their value since the start of the year.

• Activist investor Jana Partners is pressuring Six Flags to explore a potential sale.
• Six Flags has seen widening losses as it works to turn around its business.

One of America’s biggest amusement park chains faces pressure to sell its business.

Activist investor Jana Partners is calling for Six Flags Entertainment’s (FUN) board to pursue a sale after the struggling amusement park operator’s results disappointed, according to a report from The Wall Street Journal.

Jana did not respond to an Investopedia request for comment in time for publication. A spokesperson for Six Flags told Investopedia the company remains “committed to acting in the best interests of all shareholders.”

Six Flags has seen widening losses as it works to turn around its business. Last month, Six Flags reported a loss of $203 million, compared to $100 million a year ago. Its revenue dropped 9% to $864.92 million. 

Jana Partners announced last October that it was teaming up with other investors, including Kansas City Chiefs star Travis Kelce, to push for changes at Six Flags. In November, the amusement park operator hired John Reilly as its new CEO, in a move that Jana applauded. In March, the company announced a deal to sell seven of its parks to EPR Properties (EPR) for $331 million, along with a partnership for Kelce to serve as a brand ambassador for the company.

Six Flags shares were up less than 1% Wednesday afternoon, leaving them down nearly 20% for 2026 and close to 50% over the last 12 months. 

This article has been updated since it was first published to include a statement from Six Flags and reflect more recent prices.

News of the day for Sept. 23, 2026

Stock futures are pointing to modest declines this morning after two straight record closes for the Nasdaq; the AI rally that has powered the Nasdaq this week is stumbling today; Meta is expected to announce updates to its AI products and smart glasses at its annual Connect event; Apple is nearing a $5 trillion market cap; and Six Flags stock is rising following a report that an activist investor is pushing the amusement park operator to sell itself. Here’s what you need to know today.

Stock futures are down slightly this morning as chip stocks lose ground after two days of gains that powered the tech-heavy Nasdaq to record highs. Nasdaq futures were down 0.3% recently, while futures tied to the S&P 500 and the Dow Jones Industrial Average slipped 0.1% and 0.2%, respectively. The major indexes were mixed yesterday, with the Dow posting a small decline while the S&P was flat and the Nasdaq climbed to a second straight record close. WTI crude oil futures were little-changed at $90.50 per barrel in recent trading. Bitcoin, which has rallied over the past week, traded around $85,500, down from an overnight high of $87,300, while Gold futures were down 0.6% to $4,350 an ounce. The yield on the 10-year Treasury was at 4.99%, up from 4.97% at yesterday’s close.

The AI rally that has sent the Nasdaq to record highs has stalled this morning. After posting sizable gains in each of the last two sessions, shares of Intel (INTC), Advanced Micro Devices (AMD), Micron (MU), Sandisk (SNDK) and other chipmakers are losing ground in premarket trading. Enthusiasm around Meta Platforms’ (META) newest AI product and fading worries about last week’s talk of an AI development slowdown helped boost chip stocks this week, but fears about the sustainability of the sector’s financing are likely to continue spurring volatility for AI stocks. The iShares Semiconductor ETF (SOXX) and the Roundhill Memory ETF (DRAM) were each down more than 1% in recent premarket trading.

Meta is in the spotlight as it holds its annual Connect event, where it is expected to provide updates to its product lineup. Analysts are looking for news on Meta’s AI development plans following this month’s largely successful release of its Muse personal agent. The company could also announce updates to its smart glasses, including a version with no camera, as the glasses have become a target of criticism amid growing reports of people using them to film others without consent. Meta CEO Mark Zuckerberg is set to give a keynote address at 7 p.m. ET today, with more events focused on software developers set for tomorrow. Meta shares, which recently rallied to their highest point since last October, were little-changed ahead of the opening bell.

Apple (AAPL) is approaching the record highs it set back in July, when it closed above $340 for the first time ever and briefly recaptured the title of the world’s most valuable company from Nvidia (NVDA). The iPhone maker set a new intraday high yesterday at $345, also briefly pushing it back above the $5 trillion market cap threshold for the first time since that July rally. Shares closed at $339.75, giving the tech titan a market cap of about $4.96 trillion. Positive reactions to Apple’s latest iPhones, including the foldable iPhone Duo, have boosted shares as investors buy into new CEO John Ternus’ plans to continue Apple’s growth. Apple shares, which have gained 25% since the start of the year, were up slightly ahead of the opening bell. If Apple closes with a $5 trillion market cap, it will join Nvidia as the only companies with a market value above that threshold.

Shares of Six Flags Entertainment (FUN) are rising this morning on a report that the amusement park operator could be for sale. The Wall Street Journal reported late Tuesday that activist investor Jana Partners has called for the Six Flags board to hire an investment bank to pursue a sale. Jana Partners, along with other investors including Kansas City Chiefs star Travis Kelce, invested in Six Flags last October to push for changes. The Journal reported that Six Flags’ latest earnings disappointed the activist investors. Last month, Six Flags reported a 9% drop in revenue to $865 million, with a net loss that widened to $203 million from $100 million a year ago. Six Flags shares were up 2% in recent premarket trading.

• Costco is set to report earnings Thursday afternoon, with traders expecting the stock could move 3% in either direction by the end of the week.
• Analysts expect Costco to report rising sales and profits, but warned it could be challenged to impress investors with its results.

Costco is set to report earnings later this afternoon, with traders expecting a move that could drag the stock back near where it started the year.

Based on current options pricing, Costco (COST) shares are seen swinging up to 3% in either direction by the end of the week. A move of that size from the stock’s recent level just under $900 could drag the shares below $875, erasing much of their year-to-date gains, or push them up to about $925.

Costco shares are up less than 5% for the year so far, after a big pullback from their May record. Though the retailer’s shares got a boost earlier this year as inflation-weary consumers flocked to the wholesaler in search of deals, they’ve taken a hit after results that failed to top lofty targets.

Despite signs that Costco’s value proposition is resonating with consumers, it could be challenged to impress investors in the face of macroeconomic headwinds.

Ahead of the results, Bank of America analysts trimmed their price target to $1,095 from $1,200, citing a “more cautious” view of Costco’s margins amid high fuel costs and the likelihood that Costco will use tariff refunds to cut prices. UBS analysts said investors could also be more focused on Costco’s membership growth.

Costco is projected to report a record $94.85 billion in fiscal fourth-quarter revenue, up 10% year-over-year. Earnings per share are seen coming in at $6.52, compared to $5.87 a year ago, per Visible Alpha estimates. Comparable store sales are expected to have grown 8.88%, while Costco’s membership base likely swelled to 84.68 million, up from 81 million a year ago.

Wall Street analysts remain largely bullish on Costco. Seven of the 11 analysts tracked by Visible Alpha consider the stock a “buy,” while three hold neutral ratings and just one advises selling. Their mean target of $1,048 would suggest 16% upside from Wednesday’s close.

This article has been updated since it was first published to reflect more recent prices.

Episode 313 of the Express Podcast With Caleb Silver (Sept. 21, 2026)

Subscribe Now: Apple Podcasts / Spotify / PlayerFM

The autumn wind is blowing in, and it’s taking interest rates higher as the Federal Reserve boosted the overnight lending rate by a quarter point last week, as expected. Investors may be getting used to higher-for-longer interest rates and inflation, as the stock market has been running in place for over a month. It’s the bond market that everyone is focused on, and it’s the focus of Robin Wigglesworth‘s new book, “A Fabulous Debt.” He joins the Express to discuss the history of bonds and why they are so pivotal amid the geopolitical tensions that define 2026. Plus, Warren Buffett steps down as Berkshire’s chairman, but his legend continues.

• Jefferies analysts boosted their target for Meta’s stock on optimism around the company’s new Muse AI agent.
• Muse “has all the signs of a killer app,” Jefferies wrote, citing “unprecedented” adoption by consumers.

Early signs of success from Meta’s Muse AI agent have Wall Street analysts growing more bullish on the stock, with some now anticipating a run to new highs. 

Jefferies analysts lifted their price target for Meta (META) shares to $875 from $710 in a note yesterday, well above the Street’s $782 consensus. The shares were little changed at $742 in recent trading, leaving the stock about 7% off last August’s record around $796. 

The analysts told clients they believe Meta’s Muse “has all the signs of a killer app,” calling it “better than many gave META credit for” and citing “unprecedented” adoption by consumers in the wake of this month’s launch. 

That could lead to an “outsized monetization opportunity” for Meta from subscriptions and commerce that “flips the narrative” around Meta’s competitiveness, wrote Jefferies. 

Analysts at JPMorgan recently upgraded Meta’s stock to “overweight” and lifted their price target to $820 from $640 as well, pointing to the early response to Muse and the potential for AI-driven growth.

Citi analysts have said this week’s Connect conference could also serve as a catalyst for gains, with Meta seen announcing updates to its AI strategy. Meta CEO Mark Zuckerberg is set to give a keynote address at 7 p.m. ET tomorrow.

• Diesel fuel prices hit a fresh record high on Tuesday, as disruptions to supplies from the wars in Iran and Ukraine continued to push up energy costs.
• Rising fuel prices are likely to push up the cost of groceries and most other goods, as higher transportation costs are passed down the supply chain.
• High fuel prices could stoke inflation, at least in the short term, economists warned.

The soaring cost of diesel fuel is likely to find its way into all kinds of other prices.

The price of diesel fuel hit a record high Tuesday after renewed fighting between the U.S. and Iran intensified the supply chain disruptions that have driven up energy costs this year. The national average of $6.53 per gallon is 77% more expensive than the same day last year.

In early September, the price surpassed the previous record set in 2022 following Russia’s invasion of Ukraine and has set fresh records every day for the last two weeks according to AAA.

Even before the record high, economists had warned that rising fuel prices could result in higher inflation overall, at least in the short term.

Transportation costs are passed down the supply chain, ultimately reflected in the price tags on all kinds of products. In the U.S. economy, gasoline moves people, since most passenger cars run on gasoline, but diesel moves everything else: trucks, not to mention farm and construction equipment, run on diesel.

“U.S. diesel prices have never been this high. and now the countdown starts for the trickle down to everything consumers buy... record diesel will start funneling down into the economy,” Patrick DeHaan, head of petroleum analysis at fuel price tracking site GasBuddy, wrote on social media last week.

Surging fuel prices risk pushing up inflation, which has run above the Fed’s 2% annual target for more than five years.

“Every other commodity is dirt plus diesel,” Jeffrey Currie, economist and founder of 1947 Oil and Gas, posted on social media last month.

Currie’s remark highlights the importance of diesel fuel prices to just about everything else in the economy, whether it’s metals dug up from the earth with the aid of diesel-powered machines or food grown in the dirt and harvested with the aid of tractors running on diesel.

“Diesel is the cost base of everything. Every container, every tractor, every locomotive, every mine truck - you get the idea,” he wrote. “That pass-through will reach into trucking, food and producer prices, and it is barely getting started.”