Happening Now — October 1, 2026: Iran Strikes, Iraq Withdrawal, Trump Under Fire

Overview

Happening right now, Thursday, October first. U.S. futures are mixed as tensions flare in the Middle East. S&P 500 futures are indicating a gain, trading at 7,667.25, with NASDAQ 100 futures also pointing higher at 30,408.50. Dow futures, however, suggest a lower open at 50,962.94. In the bond market, the US 10-year Tr

In this show

• Happening right now, Thursday, October first. U.S. futures are mixed as tensions flare in the Middle East. S&P 500 futures are indicating a gain, trading at 7,667.25, with NASDAQ 100 futures also pointing higher at 30,408.50. Dow futures, however, suggest a lower open at 50,962.94. In the bond market, the US 10-year Treasury yield is holding at 5.31%. WTI crude is trading at $92.24 a barrel amid the geopolitical turmoil, while Bitcoin is changing hands at $83,667. We have a lot to get to this hour, from retaliatory U.S. airstrikes to a major troop withdrawal. With me are our Markets specialist and our World editor.
• Across the wires this hour, a volatile geopolitical landscape is taking shape. The U.S. has launched bombing raids on military sites inside Iran in retaliation for a downed American drone, and we are now seeing reports of missile fire hitting Kuwait. This escalation happens as the Pentagon confirms the last American forces have formally withdrawn from Iraq, ending a military presence that spanned two decades. Domestically, the political heat is rising as a prominent conservative commentator calls for President Trump's removal from office, citing threats of a 'nuclear attack' on Iran.
• Let's begin with that breaking story out of the Middle East. The United States has conducted retaliatory bombing raids on radar and drone sites within Iran. This direct military action comes after Tehran shot down a U.S. drone over the weekend. The situation is escalating rapidly, with subsequent reports confirming both drone and missile fire have now struck targets in Kuwait. The immediate concern is the potential for a wider regional conflict, with allies on high alert and oil markets bracing for significant volatility. All eyes are on Tehran and Washington for their next moves in this dangerous standoff.
• In a historic moment just next door, the U.S. military has completed its full withdrawal from Iraq. This concludes a two-decade American military presence that began with the 2003 invasion. The final departure of forces was executed under a formal agreement with the government in Baghdad. This marks the second time U.S. troops have left the country since 2011, raising new questions about regional stability, the resurgence of extremist groups, and the influence of neighboring Iran in a post-U.S. Iraq. The move represents a significant fulfillment of a long-standing foreign policy objective.
• Turning to the economy, new data from the United Kingdom shows a worrying return of inflationary pressures for its manufacturing sector. The latest S&P Global Purchasing Managers' Index for September reveals the first increase in cost pressures for British factories in four months. Both input costs and the prices charged by factories rose. This uptick in inflation comes at a time when output growth is slowing to its weakest pace since March. The data suggests the Bank of England may face a difficult choice between combating rising prices and stimulating a slowing economy.
• Back in the U.S., a stunning political development. Conservative commentator Tucker Carlson is publicly calling for President Donald Trump to be removed from office. In a new interview, Carlson argued that the President's cabinet should invoke the 25th Amendment. He cited Trump's recent threats of a 'nuclear attack' on Iran as the primary reason for his assertion, stating the president is unfit for duty. This public break from a major conservative voice could signal a significant shift within the Republican party's media ecosystem and potentially give political cover to other critics of the President.
• Meanwhile, the Trump administration is facing a new legal challenge over press access. A coalition of news organizations has filed a lawsuit to restore their journalists' access to the White House after being banned from the grounds. The suit argues the ban is a violation of First Amendment rights. Arguments in the case concluded on Wednesday, but the presiding judge did not issue an immediate ruling. The outcome of this case could set a major precedent for the relationship between the press and the executive branch for years to come, testing the limits of White House authority over media access.
• More political fallout for the Republican party, this time in Texas. Leaked audio has captured Texas Senate nominee Ken Paxton complaining about a recent midterm convention hosted by Donald Trump. In the recording, Paxton, who was endorsed by Trump, is heard saying the event was 'not good' for the party's candidates and that it negatively impacted their polling numbers. The leak reveals internal friction and anxiety within the GOP over the former President's influence and campaign style, even among candidates who have publicly sought and accepted his support. This could complicate the party's messaging in a key Senate race.
• A terrifying incident in the skies over the Middle East. A Flydubai flight from Dubai to Tel Aviv was forced into an emergency landing in Saudi Arabia after a pilot allegedly attempted to crash the aircraft. Reports indicate one of the pilots stabbed the other before trying to take control of the plane. Passengers and crew members reportedly intervened to subdue the attacker. The flight eventually landed safely, and Israeli Prime Minister Benjamin Netanyahu has since met with the returning passengers in Tel Aviv. The motive for the attack is currently under investigation.
• In Tennessee, the scheduled execution of Christa Pike, the only woman on the state's death row, has been halted. The state was reportedly unable to carry out the execution, though specific reasons for the failure have not been detailed. Pike was convicted for a brutal murder committed in 1995. Her execution would have been the first of a woman in Tennessee in over 200 years. This last-minute halt raises significant questions about the state's lethal injection protocols and the practical ability of the corrections department to carry out capital punishment, likely prompting further legal challenges.
• Two final stories for you. In sports, Las Vegas Aces star A'ja Wilson was given a technical foul after a confrontation with a fan during a WNBA playoff game. The fan was removed but later allowed to return, sparking a debate over league rules and player safety. And in entertainment, comedian Andy Dick has been arrested again in California, this time on suspicion of sexual battery. This latest incident adds to a long and public history of legal troubles for the actor. We'll continue to follow both of these developing situations.
• Synopsys is a standout performer today, with shares climbing around 1 percent to trade at $439.30. The electronic design automation giant announced plans to buy back $1 billion of its shares, signaling confidence in its future cash flow. This move is resonating with investors, especially as the company is a key player in the AI chip design space, a sector with significant long-term growth potential.
• Moderna is trading lower today, down over 3 percent to $192.57. The biotech firm's stock is under pressure after analysts at Citigroup downgraded their rating to "sell" from "neutral." The bank cited valuation concerns, suggesting the stock's price has outpaced its expected revenue and earnings. This highlights the ongoing debate around the long-term profitability of its mRNA platform beyond the COVID-19 vaccine.
• Hewlett Packard Enterprise is seeing strong gains, with the stock up over 4 percent to $64.08 after hitting a new 52-week high. The move comes as the company benefits from the booming demand for its high-performance computing and AI infrastructure. A recent multi-year deal with cloud provider Vultr for its AI server technology underscores HPE's solid position in this high-growth market, giving investors a reason to be optimistic.
• As we head into the trading session, the one thing we'll be watching is the market's reaction to the escalating conflict between the U.S. and Iran. The airstrikes and subsequent missile fire in Kuwait create significant uncertainty. Look for volatility in oil prices, with WTI already trading over $92 a barrel. Broader market sentiment will be tested, potentially driving a flight to safety in assets like gold and U.S. Treasuries. Any further statements from Washington or Tehran will be critical and could move markets instantly. We'll be tracking all of it. Stay with us.