A softer-than-expected reading of the Federal Reserve’s preferred inflation gauge lifted US tech stocks on Wednesday, with the S&P 500 up about 0.6% by late morning while the Dow hovered near flat. Europe told a different story: hotter German inflation and high bond yields sent the region’s main indexes lower on the last trading day of September.
Today’s numbers
| Market | Level | Change |
|---|---|---|
| S&P 500 (as of 11:37 a.m. ET) | ~7,715 | +0.6% |
| Nasdaq Composite (as of 11:37 a.m. ET) | ~27,072 | Up, roughly +1% |
| Dow Jones (as of 11:37 a.m. ET) | ~51,340 | Near flat |
| US 10-year Treasury yield (late morning ET) | ~5.3% | Up ~2 bps |
| Euro Stoxx 50 (close) | ~6,274 | Lower |
| DAX (close) | 25,199 | -0.79% |
| IBEX 35 (close) | 19,426.2 | -0.47% |
| EUR/USD (European close) | ~1.136 | Slightly higher |
| Brent crude (European close) | ~$104/bbl | Higher |
| WTI crude (midday) | ~$91/bbl | Higher |
| Gold (midday) | ~$4,150–4,210/oz | Mixed readings |
| Bitcoin (midday) | ~$83,700 | Little changed |
What’s moving markets
The main catalyst was the August Personal Consumption Expenditures (PCE) price index. Headline PCE rose 0.3% on the month and 3.4% from a year earlier, below the 3.7% economists had forecast. TheStreet reported that core PCE, which strips out food and energy, came in at 3.0% year over year. With inflation cooling a little, traders trimmed bets on an October rate hike by the Fed; Benzinga put the odds below 40%, down from roughly a coin flip earlier in the day.
Private hiring also surprised to the upside: payroll processor ADP reported 90,000 new private-sector jobs in September, above the 68,000 expected. Technology led the gains, with software stocks strong ahead of Micron’s earnings after the bell. On the downside, Moderna fell roughly 7% after a Citi downgrade. Commentators also flagged thin market breadth, with gains concentrated in a handful of large tech names while small caps lagged.
Europe’s close
European stocks ended the day, the month and the quarter on a weak note. Germany’s DAX fell 0.79% to 25,199 and lost about 4% over September. Spain’s IBEX 35 slipped 0.47% to 19,426.2, finishing September down 2.7%, though it is still up about 11% for 2026. The Euro Stoxx 50, France’s CAC 40 and the UK’s FTSE 100 also closed lower.
The main local headwind was German inflation, which rose to 3.3% in September from 2.9% in August, its highest level in almost three years. Energy prices did most of the damage. In Madrid, Puig, Solaria and Inditex gained, while Merlin Properties and Mapfre were among the biggest decliners.
Energy & commodities
Oil moved higher again as Middle East tensions kept supply worries alive. Brent traded around $104 a barrel and US crude (WTI) around $91. Those prices are feeding straight into European inflation: German energy inflation rose to 14.9% in September. Gold stayed near record territory above $4,100 an ounce, although sources reported different intraday moves.
For households, expensive energy shows up quickly on utility bills. If you want practical ways to cut what you pay at home, see our guide on how to lower your electric bill.
What to watch
- Micron earnings (after the US close today): a key test of AI-related chip demand.
- Euro-area flash inflation (Friday): economists expect a rise to about 3.6% in September from 3.2%.
- Fed expectations: whether today’s softer PCE data keeps pushing October hike odds lower.
- Bond yields and oil: a 10-year Treasury yield near 5.3% and Brent above $100 remain the biggest pressures on stocks and on household budgets.
Sources
- The Motley Fool / Yahoo Finance – Stock Market Midday, Sept. 30
- Benzinga – Nasdaq 100 rises as cooler PCE cuts rate-hike bets
- TheStreet – Stock Market Today, Sept. 30, 2026
- Reuters via Investing.com – German inflation accelerates in September
- onvista – Aktien Frankfurt Schluss (DAX close)
- Catalunya Press – El Ibex 35 cierra septiembre en negativo
- Noticias Bancarias – Ibex 35 cierra el trimestre en los 19.426 puntos
This is general market information, not investment advice. Data may be delayed.
Written by The Daily Economy editorial team with AI assistance and checked against the sources above. Read our editorial policy.