Global Markets Today, October 1, 2026: Asian Stocks Mixed, Oil Elevated, US Futures Rise; Indian Markets Likely To Open Lower

Mumbai, October 1: Indian equities are likely to open lower on Thursday, tracking mixed Asian markets and elevated crude oil prices, although gains in US stock futures and softer-than-expected US inflation data could provide some support to sentiment. 

Asian markets mixed 

Asian equities were mixed on Thursday as investors remained cautious after a turbulent September, with elevated oil prices and rising global bond yields keeping risk appetite in check. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.06%, while South Korea’s KOSPI gained 0.6%. Japan’s Nikkei, however, gained 2.4%, helped by gains in chip-related stocks. 

The mixed reaction came despite strong earnings from AI chipmaker Micron, suggesting investors remain cautious about the broader technology rally. 

US futures offer support 

US stock futures offered some support, with Nasdaq and S&P 500 futures up 0.5% and 0.3% respectively in early Asian trade. The positive futures setup followed a mixed session on Wednesday, when the Nasdaq Composite gained 0.24%, while the S&P 500 declined 0.25% and the Dow Jones Industrial Average fell 0.86%. 

The US market took some comfort from data showing the Personal Consumption Expenditures Price Index rose 3.4% annually in August, below the 3.7% increase economists had expected. The softer inflation reading reduced expectations of an October rate hike, although strong economic data and persistently elevated Treasury yields continued to temper sentiment. 

Treasury yields remain elevated 

Bond markets remained a key source of concern. The 10-year US Treasury yield touched 5.306%, its highest level since June 2007, while the 30-year yield remained around multi-year highs. The rise in long-term yields has kept investors wary even as equities have remained relatively resilient. 

Oil prices stay elevated 

Oil prices remained elevated amid uncertainty over US-Iran peace talks and the outlook for Middle Eastern supplies. Brent crude futures were around $97.4 a barrel in early Asian trade, while West Texas Intermediate crude was at $89.7. Brent gained about 14% in September, its biggest monthly rise since July, while WTI rose around 5%. 

The oil market was caught between lingering supply concerns and signs of recovering Middle Eastern exports. Saudi Arabia has resumed tanker loadings from Yanbu, while estimates suggest Gulf oil exports have recovered towards their 2025 average. 

Global cues remain mixed 

For Indian equities, the global setup remains mixed, with gains in US futures and softer inflation providing some relief, while mixed Asian trade, elevated crude prices and high Treasury yields could weigh on risk appetite. Sustained foreign selling could also remain a drag on domestic equities as investors assess the outlook for global rates and oil. 

Source

• Exchanges