{"id":73627,"date":"2026-10-26T11:08:14","date_gmt":"2026-10-26T15:08:14","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-update-nasdaq-hits-session-highs-amid-strong-manufacturing-data-and-geopolitical-tensions\/73627\/"},"modified":"2026-10-26T11:08:14","modified_gmt":"2026-10-26T15:08:14","slug":"market-update-nasdaq-hits-session-highs-amid-strong-manufacturing-data-and-geopolitical-tensions","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-update-nasdaq-hits-session-highs-amid-strong-manufacturing-data-and-geopolitical-tensions\/73627\/","title":{"rendered":"Market Update: Nasdaq Hits Session Highs Amid Strong Manufacturing Data and Geopolitical Tensions"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Nasdaq 100 (<a href=\"\/stock\/NDX\">NDX<\/a>) climbed 1%<\/strong> to reach a session high on Monday, driven by cooling crude prices and anticipation of major technology earnings.<\/li>\n<li><strong>US Dallas Fed Manufacturing Activity<\/strong> for October surged to <strong>13.4<\/strong>, significantly outperforming the consensus estimate of <strong>8.8<\/strong> and the previous reading of <strong>9.8<\/strong>.<\/li>\n<li><strong>UK 20-year Gilt yields dropped 6 basis points<\/strong> to 5.678%, reaching their lowest levels since late September as markets prepare for the upcoming annual budget.<\/li>\n<li><strong>Bipartisan US Senators<\/strong> issued a stern warning to banks regarding <strong>Russian diesel imports<\/strong>, alleging that recent administrative waivers violate federal law.<\/li>\n<li><strong>Iran reaffirmed its commitment<\/strong> to continuing nuclear activities within the <strong>NPT framework<\/strong>, while US intelligence suggests a low likelihood of preemptive Iranian attacks.<\/li>\n<\/ul>\n<h2>US Markets and Economic Data<\/h2>\n<p>The <strong>Nasdaq 100 (<a href=\"\/stock\/NDX\">NDX<\/a>)<\/strong> led Wall Street gains on Monday, rising <strong>1%<\/strong> to hit a session high as investors rotated back into growth stocks. Market sentiment was bolstered by a significant beat in the <strong>Dallas Fed Manufacturing Outlook Survey<\/strong>, which reported a business activity index of <strong>13.4<\/strong> for October. This figure comfortably exceeded analyst expectations of <strong>8.8<\/strong>, signaling continued resilience in the Texas manufacturing sector despite broader economic uncertainties.<\/p>\n<p>In the cryptocurrency sector, Coinbase (<a href=\"\/stock\/COIN\">COIN<\/a>) alerted users to potential technical difficulties regarding <strong>BRL (Brazilian Real)<\/strong> conversions. The exchange noted that some users may currently be unable to convert BRL to buy or sell digital assets, a development that comes as the platform manages the wind-down of the <strong>GYEN<\/strong> stablecoin and transitions users to <strong>USDC<\/strong>.<\/p>\n<h2>Global Fixed Income and Energy<\/h2>\n<p>UK government bonds saw a relief rally, with <strong>20-year Gilt yields<\/strong> falling <strong>6 basis points<\/strong> to <strong>5.678%<\/strong>. This represents the lowest yield since September 23, as investors position themselves ahead of the government&#39;s fiscal announcement. <em>Market analysts suggest the move reflects a cautious optimism that the upcoming budget will maintain fiscal discipline despite rising national debt concerns.<\/em><\/p>\n<p>Energy markets faced fresh political scrutiny as a bipartisan group of <strong>US Senators<\/strong> warned financial institutions against facilitating <strong>Russian diesel imports<\/strong>. The lawmakers contend that the Treasury Department&#39;s recent issuance of <strong>General License 135<\/strong>\u2014which authorizes certain Russian fuel transactions\u2014directly contradicts the 2022 federal ban on Russian energy. This legislative push aims to block what senators describe as a &quot;financial lifeline&quot; to Moscow.<\/p>\n<h2>Geopolitical Developments<\/h2>\n<p>Iran&#39;s state media reported on Monday that the nation will continue its nuclear activities strictly within the framework of the <strong>Non-Proliferation Treaty (NPT)<\/strong>. This reiteration of &quot;peaceful nuclear rights&quot; comes amid heightened regional tensions and a visit from officials representing the <strong>Mecca Defense Pact<\/strong> (Saudi Arabia, Pakistan, and Turkey) to Tehran. The diplomatic mission seeks to de-escalate hostilities following a series of Houthi-led attacks.<\/p>\n<p>Simultaneously, <strong>US Intelligence<\/strong> assessments indicate that while Iran and its Houthi allies have &quot;substantially increased&quot; efforts to target American personnel, they are <em>unlikely to launch preemptive escalatory attacks<\/em> at this stage. However, officials warned that Tehran remains &quot;locked and loaded&quot; to retaliate immediately should its nuclear or energy infrastructure be targeted by US or Israeli forces.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Nasdaq 100 (NDX) climbed 1% to reach a session high on Monday, driven by cooling crude prices and 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