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Axios Pro Rata

Smart-ring maker Oura delays $2 billion IPO

Worries over rates and AI agents weigh on bank stocks

A line chart that tracks the KBW Nasdaq Bank Index daily from March 25 to Sept. 25, 2026

KBW Nasdaq Bank Index

Data: Financial Modeling Prep; Chart: Jeffrey Cane/Axios

Markets

Axios Markets

Bond sell-off continues as 10-year yield hits 5.19%

We're so back&nbsp;

Data: FactSet; Chart: Axios/Matt Phillips 

Foreign investors are loving the U.S. stock market

A line chart that shows quarterly foreign net purchases of U.S. stocks and investment funds from Q1 1999 to Q2 2026. Flows swing between a low of negative $319.5 billion in Q4 2021 and a high of $425.6 billion in Q2 2026, with volatility increasing after 2018.

Foreign purchases of U.S. stocks and investment funds

Data: Bureau of Economic Analysis via Fred; Chart: Emily Peck/Axios

Muse is proving to be one tough customer

Meta's Muse could hit some subscription models&nbsp;

Data: FactSet; Chart: Axios/Matt Phillips

Why the stock market's breadth isn't that bad

Breadth isn't horrible&nbsp;&nbsp;

Data: FactSet; Chart: Axios Markets/Matt Phillips 

Dealmaking activity takes a dive in Q3

Wall Street thinks the stock market can handle a few hikes

S&amp;P 500 vs. Fed rate-hiking cycles&nbsp;

Date: FactSet; Deutsche Bank; Chart: Axios/Matt Phillips; Note: S&P 500 is presented on a logarithmic scale.

SEC opens door for crypto-style trading of U.S. stocks

Investors are now paying close attention to rates

American households have loaded up on stock&nbsp;

Data: Federal Reserve; Chart: Axios/Matt Phillips 

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