MORNING MARKET BRIEF October 9, 2026 Oil is rising, tech is retreating, and lower Treasury yields have provided only partial relief. WALL STREET OCTOBER 8 CLOSE S&P 500: −0.5% Nasdaq: −1.3% Dow: +0.1% Most S&P 500 stocks advanced, but technology losses dragged the index lower. Weak indexes don’t always mean weak breadth. #Bitcoin : A TRANSFER IS NOT A SALE US government-linked wallets moved 12,267 $BTC , worth roughly $1.01B, from funds seized in the Bitfinex case, according to Arkham data cited by CoinDesk. The destination addresses were unlabeled. No exchange deposit was recorded. Calling this a confirmed government sell-off goes beyond the evidence. MACRO October 8 session readings: • US 10Y: 5.227% • US 2Y: 4.751% • DXY: 102.17 • Initial jobless claims: 197K for the week ended October 3 A strong 30-year Treasury auction helped yields retreat. Fed Governor Waller allowed room for an October pause while maintaining that further hikes may be needed. OIL & BUSINESS Brent settled at $104.28, up 4.1%, as Middle East supply concerns and hurricane disruption supported prices. PepsiCo’s revenue rose 5.6%, but its adjusted operating margin fell 35 basis points. Sales growth still needs to translate into stronger profitability. AI: CHECK THE ACCOUNTING FT reported OpenAI’s annualized revenue was approaching $50B, versus the $70B previously reported. Reuters could not independently verify the report. Different calculation methods matter: this does not establish a $20B decline in actual annual revenue. MY VIEW For $BTC and tech, watch whether lower yields persist despite expensive oil. For AI, watch comparable revenue, margins and cash flow. WhyNot Research | Research the Future #BTC Price Analysis#