The Nightcap: Futures reopen flat, WTI slips 1.4% after Trump says no Iran strike Sunday
Stock-index futures are within 0.1% of Friday's settles, gold is down 0.2% and WTI is $101.84, while Lula's Brazil win and a $40 billion SpaceX debt deal are the weekend's market headlines before Wednesday's Fed decision.
Futures reopened at 6 PM ET and the first three hours are quiet for stocks and louder for oil. At 8:51 PM ET, S&P 500 and Dow futures were within 0.1% of Friday's settles and Nasdaq 100 futures were 0.05% lower. WTI crude was down 1.4%, after President Trump said on Sunday that there would be no strike on Iran "today," according to Fortune's roundup. We cannot say that statement caused the move.
Where futures trade versus Friday
| Contract | Sunday, 8:51 PM ET | Friday settle | Change |
|---|---|---|---|
| S&P 500 (ES) | 7,663.25 | 7,659.75 | +0.05% |
| Nasdaq 100 (NQ) | 29,102.00 | 29,117.75 | -0.05% |
| Dow (YM) | 52,426 | 52,394 | +0.06% |
| Gold (GC) | $4,000.10 | $4,007.90 | -0.19% |
| WTI crude (CL) | $101.84 | $103.27 | -1.38% |
Front-month contracts from Yahoo Finance; percentages are our arithmetic. Sunday-evening volume is thin, so small moves mean little.
Brent is harder to pin down. Our markets board showed $115.01 at 9:01 PM ET, about 1.4% under the $116.72 Friday settlement reported by CNBC, but Yahoo's front-month Brent contract prints at a different level, so we quote WTI as the clean read. The 10-year Treasury yield ended Friday at 5.00%, per the Treasury's daily curve; bond futures and cash yields have not given a clear signal tonight.
Brazil: Lula wins, and the market has not priced it
CNBC reports that Luiz Inacio Lula da Silva won a fourth term with 51.8% of valid votes to Flavio Bolsonaro's 48.2%, per the Superior Electoral Court. Brazilian stocks jumped on Oct. 5 when Bolsonaro led the first round, as we covered in that story, so the result runs against what the market priced then. CNBC's page says the iShares MSCI Brazil ETF (EWZ) "plunged nearly 20%." The US market is closed, and EWZ's last trade in our data is $42.59 on Friday, so we could not verify that figure. Treat Monday's open as the first real price.
SpaceX says it closed a $40 billion debt deal
Elon Musk said on X that SpaceX closed $40 billion in financing to buy GPUs, mostly callable debt, with funds expected in the first and second quarters of 2027, CNBC reports. Bloomberg had earlier reported talks led by Goldman Sachs. We have no filing confirming the terms; this is Musk's own statement. He also predicted failures among AI "neocloud" companies, a direct read-through for AI infrastructure names after the week's tech sell-off.
What to watch from Monday
- Monday's open: EWZ and Brazil-linked names, plus the first cash-market oil prints.
- Tuesday, Oct. 27: Coca-Cola and Boeing report before the open, Robinhood after the close; Israel votes.
- Wednesday, Oct. 28: the Fed decision at 2 PM ET, forecast at 3.875% on our calendar, then Alphabet, Microsoft and Ford after the close. Details in our week-ahead piece.
Sources: Yahoo Finance; Chronicle markets board; CNBC; Bloomberg; Fortune; U.S. Treasury. Bitcoin was $80,084.54 on Coinbase at 9:01 PM ET, down 0.84% over 24 hours. This is market information, not investment advice.
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