Daily market digest
· 5 min read
28 September 2026: Equities Climb, Oil Dips Amid Global Tensions
Equities rose despite geopolitical tensions; oil slipped as investors assessed energy supply risks.
Quick answer
Today, equities such as the S&P 500 (+0.51%) and Nasdaq (+0.48%) advanced while oil fell by 2.14% amid geopolitical tensions. Mixed economic signals and the ongoing US-Iran situation shaped market movements.
Key takeaways
- S&P 500 gains 0.51%, closing at 7,743.
- Brent crude drops 2.14%, last at $104.32.
- US dollar index decreases by 0.32%.
- Gold up 0.54%, reaching $4,321.
- US 10-year yield climbs to 5.18%.
Market dashboard
S&P 500
7,743
+0.51%1-day change
Bitcoin
$83,322
-1.28%1-day change
Gold (oz)
$4,321
+0.54%1-day change
Brent crude
$104.32
-2.14%1-day change
EUR/USD
1.1390
+0.13%1-day change
USD/MAD
9.607
+0.01%1-day change
VIX (fear gauge)
14.9
-5.11%1-day change
Crypto Fear & Greed
74/100
Greed
Equity markets saw a moderate increase today with the S&P 500 closing at 7,743 (+0.51%) and the Nasdaq Composite at 27,069 (+0.48%). Despite geopolitical uncertainties, notably between the US and Iran, equities experienced positive momentum supported by strong market sentiment, reflected in the overall risk appetite score of 66.
In commodities, Brent crude fell by 2.14% to $104.32 as geopolitical conditions continue to impact oil market perceptions. Gold gained 0.54% to reach $4,321, highlighting its role as a safe haven as investors respond to volatile energy prices and geopolitical challenges.
The forex market saw the US dollar index decrease 0.32% to 100.97, despite the USD/MAD inching up 0.01% to 9.607. Yields rose, with the US 10-year yield increasing to 5.18%, reflecting expectations of a firmer stance from the Fed amid rising global debt concerns.
30-day performance, indexed to 100
Each market rebased to 100 at the start of the window, so moves are comparable on one axis.
- S&P 500100.9
- Bitcoin105.2
- Gold (oz)92.86
- Brent crude118.8
View data table
| S&P 500 | Bitcoin | Gold (oz) | Brent crude | |
|---|---|---|---|---|
| 26 Aug | 100 | 100 | 100 | 100 |
| 27 Aug | 100.72 | 96.98 | 100.23 | 102.12 |
| 28 Aug | 100.47 | 97.49 | 97.35 | 101.67 |
| 31 Aug | 100.14 | 96.44 | 96.31 | 103.02 |
| 1 Sept | 99.42 | 96.32 | 94.48 | 107.75 |
| 2 Sept | 99.88 | 101.26 | 94.87 | 108.87 |
| 3 Sept | 100.94 | 99.27 | 97.56 | 108.74 |
| 4 Sept | 100.56 | 99.46 | 96.2 | 109.61 |
| 8 Sept | 99.97 | 97.51 | 95.39 | 111.48 |
| 9 Sept | 99.49 | 95.4 | 95.86 | 115.22 |
| 10 Sept | 98.91 | 96.16 | 94.71 | 122.53 |
| 11 Sept | 99.76 | 96.28 | 94.75 | 119.09 |
| 14 Sept | 99.27 | 94.21 | 93.52 | 120.31 |
| 15 Sept | 98.83 | 94.88 | 93.11 | 123.8 |
| 16 Sept | 98.39 | 95.2 | 94.29 | 120.48 |
| 17 Sept | 99.51 | 100.8 | 94.55 | 119.33 |
| 18 Sept | 99.67 | 101.22 | 95.09 | 118.25 |
| 21 Sept | 101.16 | 107.37 | 94.21 | 114.23 |
| 22 Sept | 101.16 | 105.14 | 94.05 | 112.99 |
| 23 Sept | 100.4 | 105.14 | 92.8 | 117.35 |
| 24 Sept | 100.37 | 104.71 | 92.36 | 121.36 |
| 25 Sept | 100.88 | 105.17 | 92.86 | 118.76 |
1-month change by market (%)
- Brent crude+18.76%
- Solana+13.41%
- Ether+7.90%
- Bitcoin+6.49%
- USD/MAD+3.81%
- Nasdaq Composite+3.59%
- US dollar index+1.82%
- EUR/MAD+1.54%
- S&P 500+0.88%
- EUR/USD-2.29%
- Euro Stoxx 50-2.60%
- Gold (oz)-7.14%
| S&P 500 | 7,743 | +0.51% | +1.21% | +0.88% | 10.5 |
| Nasdaq Composite | 27,069 | +0.48% | +2.06% | +3.59% | 14.7 |
| Euro Stoxx 50 | 6,303 | +0.48% | +1.07% | -2.60% | 12.3 |
| Bitcoin | $83,322 | -1.28% | -3.79% | +6.49% | 41.6 |
| Ether | $2,652 | -1.61% | -4.49% | +7.90% | 44.9 |
| Solana | $119.8 | -1.32% | +0.90% | +13.41% | 63.6 |
| Gold (oz) | $4,321 | +0.54% | -2.34% | -7.14% | 19.1 |
| Brent crude | $104.32 | -2.14% | +0.43% | +18.76% | 40.7 |
| US dollar index | 100.97 | -0.32% | +0.75% | +1.82% | 4.8 |
| EUR/USD | 1.1390 | +0.13% | -0.79% | -2.29% | 3.8 |
| USD/MAD | 9.607 | +0.01% | +0.94% | +3.81% | 4 |
| EUR/MAD | 10.944 | +0.02% | +0.12% | +1.54% | 4.8 |
| US 10-year yield | 5.18% | +0.43% | +3.72% | +11.15% | 14.1 |
| VIX (fear gauge) | 14.9 | -5.11% | +0.41% | -2.24% | 98.3 |
Crypto Faces Geopolitical Pressures
Bitcoin and Ether declined by 1.28% and 1.61%, respectively, amid geopolitical tensions related to potential US-Iran conflicts (CoinDesk). Despite these pressures, the month's data shows robust gains for Solana, up 13.41% over the past 30 days.
The evolving landscape of cryptocurrency news, such as Vitalik Buterin's vision for Ethereum and Kraken parent Payward's bid to diversify crypto infrastructure, signals positive long-term growth prospects (CoinDesk). However, regulatory concerns continue, underscored by California's new restrictions on memecoins (Cointelegraph).
- Bitcoin drops to $83,322 amid global tensions.
- Ether decreases to $2,652; Solana up 13.41% for the month.
- New regulatory environment unfolds in California.
Global Tensions and Economic Uncertainty
The geopolitical climate remains tense as US-Iran relations are strained with Iran's foreign minister stating a readiness for a 'doomsday' scenario (CNBC). Such developments have put pressures on oil markets, reflected in Brent crude's recent decline.
In economic matters, China's industrial profit growth of 4.2% for August signals underlying vulnerabilities despite a surprise in US orders aligning with hopes for trade truce stability (CNBC). Meanwhile, the global debt situation has reached $365 trillion, raising alarms over potential economic impacts (CNBC Economy).
- Iran escalates tensions with the US; energy markets react.
- China reports weakened industrial profit growth.
- Global debt concerns rise to $365 trillion.
Moroccan Economic Developments in Focus
In Morocco, climate change continues to pose significant risks, including increased aridity and agricultural droughts (Hespress Économie). Meanwhile, economic prospects are bolstered by a substantial agricultural harvest and job creation, supporting a growth forecast of 4.4% for 2026 (LesEco.ma).
The Casablanca Bourse sees strategic changes as Heidelberg Materials reduces its stake in Ciments du Maroc, indicating shifts in the regional market (LesEco.ma). Such moves may affect investor confidence in local industry performance as external economic pressures evolve.
- Climate risks intensify, affecting agriculture.
- Growth forecast supported by robust agricultural output.
- Heidelberg exits Ciments du Maroc; market shifts underway.
What it means for a saver in Morocco
For Moroccan savers, movements in the USD/MAD (9.607) and EUR/MAD (10.944) are crucial as they affect the cost of imports and domestic inflation outlooks. The slight USD/MAD increase indicates higher import costs, potentially translating into domestic price pressures.
Gold's slight rise to $4,321, despite falling over the month, suggests a cautious investment environment as geopolitical and economic risks linger. Moroccan economic stability benefits from local developments like agricultural growth and InsurTech investments, although climatic vulnerabilities continue to pose challenges.
Market sentiment & outlook
66/100
Constructive
Overall risk appetite
Overall market mood remains cautiously optimistic with a risk appetite score of 66. Equities have fared well amid geopolitical tensions, supported by positive sentiment in the energy sector. Moving forward, economic stability will rely on geopolitical developments and central bank actions.
Data as of
Global equities
64 · Leaning bullish
Equities maintain a positive outlook, buoyed by a sentiment score of 64. Continued tension resolution and economic data stability are key for further gains.
- S&P 500 up 0.51%
- Nasdaq up 0.48%
- Risk appetite score 66
Crypto
67 · Leaning bullish
Crypto remains optimistic with a score of 67, driven by technological advances despite near-term regulatory and geopolitical pressures.
- Bitcoin decreases by 1.28%
- Solana up 13.41% in a month
- Crypto sentiment 67
Gold & safe havens
13 · Bearish
Gold's sentiment is low at 13, reflecting pressure from increased yields and shifting risk perceptions.
- Gold up 0.54%
- US yield at 5.18%
- Volatility 19.1%
Oil & energy
80 · Bullish
Energy sentiment positive at 80, although geopolitical risks pose short-term challenges to supply dynamics.
- Oil down 2.14%
- Geopolitical tensions
- Energy volatility 40.7%
US dollar
89 · Bullish
The dollar remains strong with a sentiment of 89, benefitting from higher yields, but could reverse if geopolitical tensions dissipate.
- Dollar index 100.97
- US yield 5.18%
- USD/MAD slightly up
Bonds (US Treasuries)
3 · Bearish
Bonds sentiment at 3 highlights pessimism as rising yields threaten market stability, drawing focus on the Fed's next move.
- 10-year yield 5.18%
- Debt concerns
- Bonds score 3
Casablanca Bourse & MAD
Qualitative read
Moroccan markets face varied pressures, from global economic disruptions to local climatic challenges, demanding agile economic strategies.
- USD/MAD 9.607
- EUR/MAD 10.944
- Economic growth 4.4%
Who benefits
- Tech Sector — Benefitting from strong equities sentiment as innovation propels market confidence, evidenced by Nasdaq gains.
- Energy Producers — Despite short-term oil price drops, sentiment remains high amidst supply concerns due to geopolitical tension.
- Local Agriculture — Supported by strong harvests and economic growth, contributing positively to Morocco's GDP outlook.
Under pressure
- Fixed-Income Investors — Rising US bond yields are eroding fixed-income returns, reflecting negative sentiment in the bond markets.
- Commodity Traders — Facing volatility from shifting energy and gold price dynamics, compounded by geopolitical uncertainties.
- Import-Dependent Economies — Under threat from currency volatility and rising import costs, placing pressure on domestic inflation.
Crypto Fear & Greed index — last 30 days
0 = extreme fear, 100 = extreme greed (alternative.me).
View data table
| Crypto Fear & Greed | |
|---|---|
| 29 Aug | 68 |
| 30 Aug | 69 |
| 31 Aug | 62 |
| 1 Sept | 69 |
| 2 Sept | 63 |
| 3 Sept | 65 |
| 4 Sept | 74 |
| 5 Sept | 73 |
| 6 Sept | 73 |
| 7 Sept | 71 |
| 8 Sept | 69 |
| 9 Sept | 66 |
| 10 Sept | 69 |
| 11 Sept | 56 |
| 12 Sept | 63 |
| 13 Sept | 61 |
| 14 Sept | 57 |
| 15 Sept | 69 |
| 16 Sept | 51 |
| 17 Sept | 50 |
| 18 Sept | 56 |
| 19 Sept | 71 |
| 20 Sept | 71 |
| 21 Sept | 70 |
| 22 Sept | 78 |
| 23 Sept | 71 |
| 24 Sept | 71 |
| 25 Sept | 71 |
| 26 Sept | 74 |
| 27 Sept | 70 |
| 28 Sept | 74 |
Scenarios to watch
| Base case | Geopolitical tensions ease | Markets stabilize with equities and energy leading moderate gains, while bonds and gold plateau. |
| Bullish case | Positive tech innovation and earnings | Tech and equities soar, bolstering broader market appetite, while yields remain managed. |
| Bearish case | Escalation of US-Iran tensions | Pressure mounts on equities, spikes in oil prices, and a shift to safe-haven assets like gold. |
Frequently asked questions
Why did stocks rise on 28 September 2026?
Stocks like the S&P 500 saw gains, closing 0.51% higher, largely due to strong sentiment despite geopolitical tensions.
What affected oil prices recently?
Brent crude dropped 2.14% amid ongoing US-Iran tensions impacting perceived energy supply risks.
How is the Moroccan dirham performing?
The USD/MAD slightly increased, 0.01% to 9.607, indicating potential pressures on import costs.
What is the outlook for Bitcoin?
Bitcoin fell by 1.28% to $83,322 affected by global tensions, yet maintains a broader positive trend.
This week on the Casablanca Bourse
- IMO — 1 MAD/share, 2022-04-19
- IMO — 2.5 MAD/share, 2022-06-27
- IMO — 1 MAD/share, 2022-09-20
- IMO — 1 MAD/share, 2022-12-13
- IMO — 1 MAD/share, 2023-04-18
- IMO — 2 MAD/share, 2023-06-15
- IMO — 1 MAD/share, 2023-09-18
- IMO — 1 MAD/share, 2023-12-12
Sources
- Ennis (EBF) Grows Sales but Earns Less. Are Legal Items Hiding a Better Business? — Yahoo Finance
- Strive CEO: Bitcoin Could ‘Go to Infinity' as Dollar Debt Crisis Breaks — Yahoo Finance
- Westinghouse Air Brake (WAB) Signs $700 Million-Plus Rail Services Deal. Can Profits Grow? — Yahoo Finance
- Vista Gold (VGZ) Agrees to Sale. Can its Buyer Fund the Mt Todd Gold Mine? — Yahoo Finance
- This Little-Known AI Chip Stock Doubled. Its New Chips Now Double Optical Speed — Yahoo Finance
- Oil gains over 1% as Trump rejects Iranian proposal to reopen Hormuz Strait — CNBC
- Trump-Xi summit analysis: 'Tangible outcomes' needed for U.S.-China truce to hold — CNBC
- Taxpayer-funded Trump ads draw bipartisan scrutiny ahead of midterms — CNBC
- Northern Star shares pop as Australian gold miner rejects $27 billion takeover proposal — CNBC
- Iran's foreign minister says Tehran ready for 'doomsday' war with U.S., but leaves diplomacy on the table — CNBC
- China posts weakest industrial profit growth this year, expanding 4.2% in August — CNBC Economy
- China saw 'surprise' jump in U.S. orders ahead of Trump-Xi summit, private survey shows — CNBC Economy
- Surging Treasury yields pose a brand new problem for Kevin Warsh and the Fed — CNBC Economy
- Global debt tops $365 trillion as economists sound alarm over 'vicious cycle' — CNBC Economy
- Switzerland is keeping rates at 0% — for now — CNBC Economy
- Healey to promise 'new age of industrialisation' for UK in conference speech — BBC Business
- Avanti West Coast services to be nationalised next year — BBC Business
- You need £17,000 for a first home - here's how to do it — BBC Business
- Andy Burnham refuses to back third runway at Heathrow — BBC Business
- Faisal Islam: The two big decisions the chancellor must make — BBC Business
- Bitcoin, Nasdaq futures decline as Trump won’t rule out more Iran strikes — CoinDesk
- Vitalik Buterin maps Ethereum’s shift beyond a blockchain in sweeping 2030 vision — CoinDesk
- How months of work on the Clarity Act all fell apart — CoinDesk
- Kraken’s parent Payward is betting billions on becoming financial infrastructure, not just a crypto exchange — CoinDesk