Dow opens 407 pts higher as oil, yields ease ahead of Trump‑Xi summit

• The 10-year Treasury yield fell more than 3 basis points to 4.957% and crude oil dropped about 3%, with WTI at $97.09 and Brent at $100.50, easing pressure on equities
• Greenland-linked stocks surged dramatically after Trump announced an Arctic security deal, with Greenland Energy jumping 144%, Greenland Mines up 70%, and Critical Metals gaining 30%
• PulteGroup fell over 15% as 30-year mortgage rates topped 7% and analysts issued fresh downgrades, while the Fed's recent first rate hike in three years keeps focus on inflation persistence

Market Summary: Dow Opens 407 Points Higher on Easing Oil and Yields

Key Market Movements:

U.S. markets opened sharply higher on Monday, September 21, 2026, with the Dow Jones jumping 407 points (0.79%) to 52,089.54. The S&P 500 gained 0.7% to 7,690.25, while the Nasdaq Composite rose 1.1% to 26,780. This follows a mixed previous week where the Dow fell 1.7%—its worst performance since March—while the Nasdaq gained 0.7%.

Key Drivers:

The rally was fueled by retreating oil prices and Treasury yields. WTI crude dropped approximately 3% to $97.09 per barrel, with Brent sliding to $100.50. The 10-year Treasury yield fell 3 basis points to 4.957%, while the 30-year yield eased to 5.294%.

Notable Stock Movers:

• Greenland-linked stocks surged on President Trump's Arctic security agreement announcement: Greenland Energy jumped 144%, Greenland Mines rose 70%, and Critical Metals Corp gained 30%
• PulteGroup (PHM) plummeted over 15% as 30-year mortgage rates exceeded 7%, prompting downgrades from Wells Fargo, Truist, and a "Sell" rating from Seaport Research
• Novo Nordisk fell 7% despite raising full-year guidance, missing oral Wegovy sales expectations (3.22 billion vs. 3.27 billion Danish kroner)
• Warner Bros. Discovery rose 7% on reports of potential Paramount acquisition progress

Market Outlook:

Investors are focused on the upcoming Trump-Xi summit addressing tariffs, critical minerals, and AI cooperation. Geopolitical risks remain elevated following Houthi attacks on Saudi Arabia. The Fed's recent rate hike, combined with 5% yields and $100 oil, raises questions about inflation persistence.