Stock Market Update
26-Oct-26 12:00 ET
Oil prices move off earlier lows
Dow +90.02
at 52305.39,
Nasdaq +259.94
at 26235.72,
S&P +55.97
at 7679.72
[BRIEFING.COM] The major averages are off their session highs as oil prices begin to recover from an early retreat.
The energy sector (+0.3%) has seen some choppy trading today, recovering from earlier losses as crude oil prices have rebounded from their session lows. WTI crude futures are down just $0.59 (-0.6%) to $102.68 per barrel after falling more than 2.0% earlier in the session. Refiners have provided some support, with Marathon Petroleum (MPC 469.47, +12.25, +2.68%), Phillips 66 (PSX 289.26, +6.08, +2.15%), and Valero Energy (VLO 425.94, +6.66, +1.59%) posting solid gains near record highs.
Meanwhile, EQT Corp. (EQT 53.20, -2.43, -4.37%) is trading lower after announcing an agreement to acquire Range Resources (RRC 52.09, +6.57, +14.43%) in an all-stock transaction valued at approximately $12.8 billion in equity consideration, representing a 20.6% premium. Range Resources is rallying on the news, while EQT faces selling pressure amid concerns about the acquisition premium, integration costs, and weaker natural gas prices. The combined company would have an enterprise value exceeding $50 billion, with management targeting $325 million in annual synergies within two years and potentially greater savings over the longer term.
