Market Summary - September 30, 2026

The US markets opened on a positive note as lower Core PCE inflation data provided relief to investors. The Core PCE index for August rose by 3.0% year-over-year, which was below the expected 3.3%, leading to a decline in bond yields and the dollar. Additionally, the Q2 US GDP growth was revised upward from 1.5% to 2.2% annualized, primarily driven by a significant 0.6% month-over-month increase in real consumer spending.

Key Market Movements

• US500: Up 0.25% at 7740.2 points
• US100: Up 0.35%
• US30: Slightly down 0.01%
• US2000: Up 0.28%

Economic Data Impact

The release of the August Personal Consumption Expenditures (PCE) index indicated a month-on-month increase of 0.2% for Core PCE, which was below the consensus estimate of 0.3%. The headline PCE index rose by 0.3% month-on-month and 3.4% year-on-year. This data led to a sharp pullback in 10-year US Treasury yields and a drop in the dollar index, alleviating fears of aggressive interest rate hikes by the Federal Reserve ahead of the upcoming FOMC meeting on October 28.

Technical Analysis of US500

The US500 index is currently in a broad uptrend, trading around 7760 points, above key moving averages. A local peak was reached near 7853.6 points, followed by a slight correction. The market is expected to test local highs again if it holds above the support levels of 7719 points and the 25-period SMA at 7707.2 points.

Corporate News Highlights

Several notable corporate movements were observed:

• Boeing (BA.US): Gained 2.0% after securing a US Navy contract.
• Alphabet (GOOGL.US): Increased by 1.90%.
• Nvidia (NVDA.US): Rose 1.43% following news of new AI chip offerings.
• Meta Platforms (META.US): Dropped 1.93%.
• GameStop (GME.US): Increased by 1.0% after CEO Ryan Cohen's share purchase.

Retail Investor Sentiment

Retail investor communities reacted positively to the macroeconomic data, interpreting the lower Core PCE as a sign of easing hawkish pressure from the Federal Reserve. Discussions also centered around the upcoming quarterly results from Micron Technology, with mixed sentiments regarding potential profit-taking in the semiconductor sector.

Upcoming Events

Key upcoming releases include:

• Micron Technology's Q4 financial report (September 30)
• US labor market report (October 3)
• FOMC interest rate decision (October 28)