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WEEKLY RECAP

Week ending 25 Sep 2026

21–25 Sep 2026

0 · calm50 · normal100 · wild

On the Spotlight Index, where 50 is a normal week, this one scored 46.8: a normal week, busier than 8 of the past 45.

Each day on the Spotlight Index
55Mon21 Sep
44Tue22 Sep
53Wed23 Sep
40Thu24 Sep
42Fri25 Sep
Scroll to see the five markets that stood out

Five markets stood out

21–25 Sep 2026 · sized against each market's own history

Last week was one of the calmest of the year across the 437 markets we track. Our Spotlight Index, which scores each market's move against its own past, averaged 47 for the week, where 50 is normal. Only 7 of the past 52 weeks were that calm.

Monday21 SepIndex 55

Chip stocks did most of the moving. Intel jumped 12% on Monday alone as Meta's new AI agent set off a rally in chip shares, and Amphenol rose the same day.

Cadence climbed a little every day for a 15% week, after launching new AI tools for designing chips and widening its partnership with TSMC.

Amphenol moved amid an AI hardware rally and upbeat analysts.

Tuesday22 SepIndex 44

Outside tech, Amgen gained on Tuesday after its drug for Sjögren's disease met its main goal in a late-stage trial.

General Dynamics went the other way, falling 3% on Tuesday as defence stocks sold off together.

Mon21 Sep55
+4.2%that day Week +15.3%Moderate
+12.1%that day Week +13.3%Low
+4.1%that day Week +8.4%Low
Tue22 Sep44
−3.0%that day Week −4.6%Moderate
+4.3%that day Week +7.5%Low
Wed23 Sep53
Thu24 Sep40
Fri25 Sep42

What can move markets next week

28 Sep – 2 Oct 2026 · and the reading each market carries into it

There is no Fed decision next week, but the calendar still fills up. Australia's central bank sets rates on Tuesday, and the weekly US oil stocks report lands on Wednesday. On Thursday Japan publishes its Tankan business survey and the US reports gas storage, and on Friday the euro area gets its first reading of September inflation.

The one to watch is Friday's US jobs report for September, due at 08:30 New York time. It tends to move stocks, the dollar, gold and crypto at once.

Mon28 Sep
Nothing big on the calendar
Tue29 Sep
AUDUSDAustralian Dollar / US Dollar

Australia rate decision

TUE 29 SepLow
Wed30 Sep
SpotCrudeWTI Crude Oil

US weekly oil stocks report

WED 30 SepLow
Thu1 Oct
NatGasNatural Gas

US weekly gas storage report

THU 1 OctVery Low
JPN225Japan Nikkei 225

Japan's Tankan business survey

THU 1 OctVery Low
Fri2 Oct
EURUSDEuro / US Dollar

Euro area inflation, first reading

FRI 2 OctLow
US500US S&P 500

US jobs report for September

FRI 2 OctVery Low

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