Nasdaq Hits Record High as Brent Crude Slips Below $100 on Middle East Supply Hopes

The Nasdaq Composite climbed to a new all-time intraday peak on September 22, 2026, and was on track for a second straight record close, lifted by oil prices falling below $100 a barrel. The S&P 500 traded near flat, while the Dow Jones Industrial Average fell about 260 points, or 0.5%. Brent crude futures slipped below $100 a barrel, down roughly 0.5%, after reports of potential Middle East supply restoration. Tests are underway on Saudi Arabia's East-West pipeline, with flows possibly resuming this week. Iran also offered to restore Strait of Hormuz access contingent on the U.S. ending its blockade, though the reports remain unverified. SanDisk rose 4% after a Rosenblatt call, supporting the Nasdaq. The 10-year Treasury yield edged up to around 4.97%-4.98%. President Trump told the UN General Assembly he must decide whether to negotiate with Iran or "annihilate" it, adding he expects a deal after the midterm elections. Markets are watching for a possible Trump-Pezeshkian meeting and a Washington summit with China's Xi Jinping this week.