Market-moving news for Thursday, September 24, 2026

What happened

On Thursday, Sept. 24, 2026, Reuters reported that US and Iranian negotiators were exploring a phased path toward ending the nearly seven-month war, with core terms being Iran reopening the Strait of Hormuz in exchange for the US lifting its economic/naval blockade of Iran. US equity benchmarks jumped sharply in short-term midday trading on the reports, while crude fell — WTI slid from near $96.76 to $93.62 and gains narrowed to ~1.5–1.6% (~$93.65 WTI, ~$104.67 Brent). The rebound proved short-lived: by the close, the Dow fell 0.31% to 51,350.61, the Nasdaq 0.26% to 26,866.18, and the S&P 500 0.10% to 7,698.49, with oil-related ETFs (USO up ~3%, UCO up ~2%) reflecting residual energy-price anxiety.

What happened

On Thursday, Sept. 24, 2026, Philadelphia Fed President Anna Paulson (an FOMC voter) said inflation 'remains stubbornly elevated' and that 'some modest further tightening may be warranted' if conditions evolve as expected, calling the return to 2% inflation 'a top priority.' The same day, the Labor Department reported initial jobless claims of 197,000 for the week ended Sept. 19 — below the 201,000 consensus forecast and near 57-year lows. The 10-year Treasury yield closed at 5.163–5.18% on Sept. 24, its highest since 2007, while the 30-year hit its highest since 2004. Markets priced roughly a 70–73% probability of a 25-bp hike at the Oct. 27–28 FOMC meeting, within the headline's 64–75% range.

What happened

On Sept. 24, 2026, Bloomberg reported that Oracle had sent a force majeure notice to the developer of Project Jupiter, its massive AI data center campus in Doña Ana County, New Mexico (near Santa Teresa, ~1,400 acres, designed for 2.45 gigawatts). The notice — sent to Stack Infrastructure, a unit of Blue Owl Capital — seeks to preserve Oracle's right to defer rent payments for up to three years if the campus misses its planned 2028 opening (specifically a March 2028 target). Oracle shares fell about 4.4% to ~$138.15–$139.54 on Sept. 24 (volume 37.1 million shares, 1.23× average), more than $100 below the stock's 2026 peak of ~$248 in early June. Oracle said 'Project Jupiter remains on our planned schedule' and that such notices are 'commonplace in developments of this scale'; Blue Owl said the notice does not change financial commitments to the project.

What happened

Shares of MGM Resorts International slid roughly 10–11% on Thursday, Sept. 24, 2026 after Barry Diller's People Inc (formerly IAC) withdrew its more than $18 billion proposal to acquire all remaining MGM shares it did not already own. MGM fell to about $33.90–$34.40 in premarket/early trading — its lowest in seven months — wiping out all gains made since the bid was announced in June, when the stock had surged ~16% to an 18-year high of $51.59. People Inc already owns ~27% of MGM (66.8 million shares) and had offered $48.30 per share in cash; it declined to give a specific reason for the withdrawal, with Diller saying, 'We didn't feel the mix was coming together in the way we had hoped.'

What happened

INTU fell 1.9% to $286.80 on Sept. 23, 2026 (market cap ~$78.45B) amid a stark analyst split. On Sept. 24, Goldman Sachs (analyst Gabriela Borges) reiterated a Sell rating with a $304 target, citing limited visibility into newer growth areas and pressure in the tax business. Mizuho reiterated an Outperform with a $430 target (per MarketBeat), against a consensus Hold with an average target of $431.55. The stock was down ~22% over the month and 56% YTD as of Sept. 24; the 52-week range was $252.84–$703.96.

What happened

Darden Restaurants reported Q1 FY2027 results on Thursday, Sept. 24, 2026: adjusted EPS of $2.05, meeting the $2.05 consensus (up 4.1% YoY from $1.97), and revenue of $3.20 billion (up 5.1% YoY) versus a $3.21 billion consensus — a slight miss. Reported net income fell 9.5% YoY to $233.4M from $258M as higher food and labor costs pressured profits. Management reaffirmed FY2027 adjusted EPS guidance of $11.10–$11.35 (near the $11.28 consensus). Same-restaurant sales rose ~3.1–3.2% overall; LongHorn posted ~6.2–6.8% comps while Olive Garden managed only ~1–1.1%. The stock slipped after the report (down ~1.5–2%).

What happened

Barron's reported that four top Dell executives sold roughly $31.7 million in Dell stock during September 2026. CFO David Kennedy unloaded 23,896 shares for ~$13.5 million on Sept. 17 at $584.73–$586.08 per share; General Counsel Richard Rothberg sold 4,000 shares for $2.3 million the same day at $583.36 each. Earlier, on Sept. 4, CHRO Jennifer Saavedra sold 25,251 shares at $520 each (~$13.1M) and CMO Geraldine Tunnell sold 5,436 shares at $523.52 each (~$2.8M). The sales represent less than 1% of Dell's more than 315 million shares outstanding. Dell declined to comment to Barron's.