Oil Prices Fall Ahead of Trump-Xi Summit
By Jacqueline Policastro | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: U.S. stocks finished mixed Friday after a volatile week marked by the Federal Reserve’s first interest-rate hike in more than three years. The Dow fell 0.2%, while the S&P 500 rose 0.2% and the Nasdaq gained 0.4%.
The 10-year Treasury yield rose to about 5% Friday. Oil prices declined but remained elevated, with U.S. crude settling at $100.30 a barrel and Brent at $104.87 amid continued disruptions to Middle East supplies.
Industrial production was unchanged in August, while manufacturing output fell 0.3%, ending seven consecutive months of gains.
Today’s Focus: Stock futures pointed higher Monday morning as oil prices declined and the 10-year Treasury yield moved back below 5%. Investors continue to assess the outlook for interest rates after the Fed unanimously raised its benchmark rate by a quarter point last week to a range of 3.75% to 4.00%.
President Donald Trump is scheduled to meet Chinese President Xi Jinping in Washington on Thursday. The summit is expected to include trade, tariffs, rare-earth supplies, artificial intelligence and the war with Iran. The meeting follows weekend talks between Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, during which the two sides discussed trade and a possible mechanism for sharing information about AI safety risks
ON THE SCHEDULE FOR THE WEEK OF MONDAY, SEPTEMBER 21, 2026
-11:30 a.m. ET – Treasury 13- and 26-week bill auctions
-Tuesday, 1 p.m. ET – Treasury 2-year note auction
-Wednesday, 9:45 a.m. ET – September S&P Global flash U.S. manufacturing and services PMIs
-Wednesday, 10:05 a.m. ET – Fed Governor Michael Barr speaks on housing
-Wednesday, 1 p.m. ET – Treasury 5-year note auction
-Thursday, 8:30 a.m. ET – Weekly jobless claims
-Thursday, 10 a.m. ET – August new-home sales
-Thursday, 1 p.m. ET – Treasury 7-year note auction
-Thursday, time TBD – President Trump meets Chinese President Xi Jinping in Washington
-Friday, 8:30 a.m. ET – August durable-goods orders
-Friday, 10 a.m. ET – Final September University of Michigan consumer-sentiment index
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