CBN News, October 1, 2026, 07:40:03 - Listen to the news
Author: Chen Xiyu Editor-in-Chief: Sheng Yuan
The three major stock indices showed mixed gains and losses, while U.S. Treasury yields continued to rise;
U.S. August PCE fell short of expectations, leading to a cooling of interest rate hike forecasts;
International crude oil prices are rising.
On Wednesday (September 30), the three major U.S. stock indices showed mixed movements. By the close of trading, the Dow Jones Industrial Average fell by 443.87 points, or 0.86%, to 50,906.05; the S&P 500 Index declined by 19.30 points, or 0.25%, to 7,651.54; while the Nasdaq Composite Index rose by 63.52 points, or 0.24%, to 26,861.06.
Wednesday was also the last trading day of September and the third quarter of this year. On a monthly basis, the Dow Jones Industrial Average has fallen by 4.06%, the S&P 500 Index has fallen by 0.20%, while the Nasdaq Composite Index has risen by 2.45%; on a quarterly basis, the Dow Jones Industrial Average has fallen by 2.68%, the S&P 500 Index has risen by 2.25%, and the Nasdaq Composite Index has risen by 3.15%.
【Market Overview】
U.S. Treasury yields continue to rise. The yield on 10-year U.S. Treasuries rose by about 4 basis points during the day, closing at 5.298%, and briefly broke through 5.3% at one point. The yield on 30-year Treasuries increased by nearly 5 basis points, reaching 5.642%.
The U.S. Personal Consumption Expenditures (PCE) price index for August, released on Wednesday ( PCE ), rose 3.4% year-on-year, lower than the 3.7% recorded last month. The core PCE index, which excludes food and energy prices, rose 3% year-on-year, also below last month's 3.3% and falling short of economists' expectations.
Rob Howorth, Senior Investment Strategy Director at Bank of America Asset Management Group ( U.S . Bank Asset Management Group ), stated: "I don't see inflation expectations rising significantly, so I believe traders are actually focusing on growth data... The Atlanta Fed's forecast for GDP in the third quarter is quite strong, and the data for the second quarter GDP also exceeded expectations, which may be limiting the upside potential for long-term real interest rates."
Market expectations for a Fed interest rate hike have cooled down during the day. According to CME Group's CME interest rate monitoring tool FedWatch, traders' pricing of a 25-basis-point hike next month has dropped to 35%, which is a significant decline from approximately 51% the previous day.
Adam Hertz, Global Multi-Asset Head and Portfolio Manager at骏利亨德森 Investments ( Janus Henderson Investors ), stated: "Although today's inflation data was slightly better than expected, strong employment and GDP data indicate that these figures are unlikely to disrupt the market's general expectation of another interest rate hike within the year."
Meanwhile, market attention has turned to the employment data that will be released this Friday. Economists expect that non-farm payroll in September will increase by 84,000, which is about half of the increase seen in August after seasonal adjustments.
【Popular Stocks Performance】
On Wednesday, technology stocks were mainly higher. Apple Inc. rose by 1.10%, SpaceX rose by 1.09%, Amazon rose by 1.01%, Google's parent company Alphabet rose by 0.93%, Microsoft rose by 0.77%, Tesla rose by 0.56%, and NVIDIA rose by 0.51%; among the losers, Meta fell by 1.84%, and Netflix fell by 1.02%.
Meta's stock price has risen by 26.70% in September, mainly due to the strong download data of its first consumer-oriented AI intelligent product Muse. Nate Swensen, an analyst at Deutsche Bank, said: "Meta's Muse is the first large-scale consumer-grade platform truly built around autonomous commerce, extending the role of AI from providing recommendations to directly executing transactions."
Micron Technology's stock price closed flat, with the company's quarterly performance exceeding expectations, benefiting from the surge in demand for artificial intelligence infrastructure. Its stock price rose slightly after the market closed.
Most popular Chinese concept stocks rose, with the NASDAQ Golden Dragon China Index closing up 0.60%. New Oriental increased by 1.85%, Bilibili by 1.21%, Li Auto by 1.16%, JD.com by 1.14%, iQiyi by 1.07%, Xpeng Motors by 0.95%, NIO by 0.88%, Weibo by 0.62%, Pinduoduo by 0.57%, and Baidu by 0.18%.
In the down camp, Futu Holdings fell by 2.15%, Zhihu fell by 0.83%, NetEase fell by 0.54%, Tencent fell by 0.53%, and Alibaba fell by 0.19%.
【Large-Cap Performance】
International oil prices closed higher, with WTI crude oil futures for November rising by 1.16% to $90.42 per barrel; WTI crude oil futures main contract has seen a cumulative increase of over 5% in September and over 31% in the third quarter.
Brent crude oil futures for November rose by 0.92% to $103.53 per barrel; the main contract for Brent crude oil futures has seen a cumulative increase of about 11% in September and over 33% in the third quarter.
Prices of precious metals have seen both increases and decreases. COMEX Gold futures rose by 0.22%, reaching $4,189.1 per ounce, with a cumulative decline of nearly 7% in September and a cumulative increase of over 4% in the third quarter; COMEX Silver futures fell by 0.65%, at $60.76 per ounce, with a cumulative decline of nearly 10% in September and a cumulative increase of nearly 3% in the third quarter.
Article Author
The Dow Jones fell nearly 200 points, U.S. Treasury yields hit a new high in over two decades, oil prices soared, and Federal Reserve officials continued to take a hawkish stance one after another.
As U.S. Treasury yields soar, market expectations for further interest rate hikes by the Federal Reserve are also increasing.
30-year U.S. Treasury yield hits a new high since June 2004; major U.S. stock indexes open lower
New York Fed Chair Williams said it is "reasonable" to expect another interest rate hike within the year.
How is the "hawkish risk" priced into U.S. stocks recalibrated after the cooling of non-farm data?
If the actual tightening measures are less than the market's expected difference, it will help to further release the upside potential for stock valuations.
Guan Tao: How to view the imbalance in the US external sector's stock?
The rebalancing of the global economy has once again become a core topic in the coordination of current international economic policies.
Retaliatory rebound! Chip stocks soar, Sandisk rises by over 14%, Micron gains more than 12%, the S&P 500 index ends three consecutive declines, the Dow Jones rises nearly 400 points, international oil prices continue to climb
"Any company that fails to meet Wall Street's higher expectations will be punished by the market."
