US Market Wrap: Stocks gain and oil slides on US/Iran diplomacy optimism

Huge crypto options expirations today
Over $16-18 billion in Bitcoin and Ethereum options are expiring today, one of the largest quarterly derivatives settlement events of the year.
Expiry Breakdown
Bitcoin (BTC) Options:Notional Value: ~$14B to $16B (approx. 167,000 to 185,000 contracts)
Ethereum (ETH) Options:Notional Value: ~$2.1 billion (789,000 contracts)
Market Update (4 hour)
Risk on mood following the dip in crude oil: US stocks up, USD down but US yields only moving marginally so far as markets once again try to trade on hope even though hope is not a trading strategy.
EURUSD: Needs to move firmly above 1.1400 to break current momentum, so far testing 1.1400, (1.1415-20, 49-55 resistance above it).

Newsquawk Daily US Opening News – 25th September 2026

(Right click on any image (or chart) to open a full screen in a new tab)
USDJPY 4 HOUR: Reacts to verbal intervention
Timing of verbal intervention suggests the MoF/BoJ have drawn a line in the sand around 159 to prevent 160 coming into play.
While 158 is pivotal in setting the intra-day tone, 157.76 (just tested) is key support that would need to be firmly broken to confirm a break in current (up) momentum.

USDJPY DAILY: Too soon for an intervention alert?
JPY underperforms: Trading with a bid while above 158, stronger while above 158.50 in a market likely to keep one eye looking over its shoulder for intervention but seems too early to sound an alarm.
In this regard, any approach to 160, should one occur, would raise the alert level but even then much would depend on the overall dollar tone.

US PREMARKET MOVERS: ORCL, OWL, BE, MGM, TRU, VKTX, KNF, DK, DBX ES -0.5% NQ -1.0% RTY -0.3%

© 2024 Global View
