Tormere After-Market Digest
September 30, 2026
Prepared by Tormere Research:Communications (TR:C)
Top headlines

Stock market today: Dow, S&P 500 post monthly losses in September as Treasury yields climb

The S&P 500 fell 0.25% to 7,651.54 and the Dow dropped 443.87 points, or 0.86%, to 50,906.05, while the Nasdaq Composite rose 0.24% to 26,861.06. For September, the Dow lost 4.9% and the S&P 500 0.7%, while the Nasdaq gained 1.7%. The 10-year Treasury yield rose to 5.29% even as August PCE inflation rose 3.4%, less than expectations for 3.7%. Micron was set to report earnings after the close. Yahoo Finance

Fed's favored inflation gauge cooled in August but remained elevated

The PCE price index rose 0.3% in August and 3.4% from a year earlier, against expectations of 0.4% and 3.7%. Core PCE, which excludes food and energy, rose 0.2% on the month and 3% on the year, against expectations of 0.3% and 3.3%. The personal savings rate fell to 4.1% from 4.6% in July. FOX Business

Jabil shares fall despite earnings beat and strong guidance

Jabil reported fiscal fourth-quarter adjusted EPS of $4.40 against a $4.06 consensus, on revenue of $10.6 billion, up 21% year over year and ahead of the $9.69 billion estimate. It guided fiscal 2027 adjusted EPS to $17.55 against a $16.92 consensus, and revenue to $44.5 billion against $42.93 billion, with a 30bp core operating margin expansion to 6.1%. Shares were down about 4% premarket. Investing.com

Markets close
Close: Sep 30, 2026, 4:00 PM ET
AssetCloseChg%
S&P 500^GSPC7,651.54-19.30-0.25%
Nasdaq Composite^IXIC26,861.06+63.52+0.24%
Dow Jones^DJI50,906.05-443.87-0.86%
CBOE Volatility Index^VIX16.34+0.30+1.87%
U.S. Dollar IndexDXY · 4:00 PM ET101.49+0.08+0.08%
Brent CrudeICE Dec '26 · 2:30 PM ET settle$98.03+$1.87+1.94%
GoldCOMEX Dec '26 · 1:30 PM ET settle$4,189.10+$8.40+0.20%
U.S. Treasury Yields
Prints through Sep 30, 2026
Chg and % measured vs the prior print, Sep 29, 2026
TenorCloseChg%
1-MonthT-bill4.02%-2bp-0.50%
3-MonthT-bill4.20%-5bp-1.18%
6-MonthT-bill4.33%-3bp-0.69%
1-YearT-note4.54%-4bp-0.87%
2-YearT-note4.88%-1bp-0.20%
5-YearT-note5.09%+3bp+0.59%
10-YearT-note5.29%+3bp+0.57%
30-YearT-bond5.64%+5bp+0.89%
Sectors & breadth
Sector performance
Technology · XLK+0.64%
Energy · XLE-0.07%
Cons. Disc. · XLY-0.28%
Comm. Svcs · XLC-0.45%
Utilities · XLU-0.68%
Materials · XLB-0.81%
Real Estate · XLRE-1.04%
Financials · XLF-1.13%
Industrials · XLI-1.27%
Health Care · XLV-1.35%
Cons. Staples · XLP-1.53%
Today's leading S&P 500 movers
GEN+5.61%
CBOE+5.17%
SNPS+4.78%
JBL-10.03%
MRNA-5.35%
APP-4.98%
Economic calendar
High
Medium
Low
All times ET
30
Wed
Today
USD8:15 AM
ADP employment report (Sep)
USD8:30 AM
GDP third estimate (Q2)
USD8:30 AM
Personal income and outlays, PCE (Aug)
USD8:30 AM
Advance economic indicators: trade, retail and wholesale inventories (Aug)
1
Thu Oct
USD8:30 AM
Initial jobless claims
USD10:00 AM
Fed Governor Waller speaks at FRED Con
USD10:00 AM
ISM manufacturing PMI (Sep)
USD10:00 AM
Construction spending (Aug)
USD1:30 PM
Fed Vice Chair Jefferson speaks on the U.S. economy and monetary policy
USD3:00 PM
Fed Vice Chair for Supervision Bowman speaks on financial regulation and the eSLR
USD3:30 PM
Fed Governor Cook speaks on global central banking
2
Fri Oct
USD8:30 AM
Employment situation, nonfarm payrolls (Sep)
USD10:00 AM
Factory orders, manufacturers' shipments and inventories (Aug)
5
Mon Oct
USD10:00 AM
ISM services PMI (Sep)
6
Tue Oct
USD8:30 AM
International trade in goods and services (Aug)
The forward look
TR:C thesis
The Treasury curve steepened into quarter-end: the long end sold off further, with the 30-year up 5bp to 5.64% and the 10-year up 3bp to 5.29%, while the front end rallied (3-month -5bp to 4.20%, 2-year -1bp to 4.88%) after a softer-than-expected August PCE report. Headline PCE rose 3.4% year over year against a 3.7% expectation and core PCE held at 3%, while BEA's third estimate revised Q2 real GDP growth up to 2.2% and ADP reported 90,000 private-sector jobs added in September. Equities diverged: the S&P 500 fell 0.25% to 7,651.54 and the Dow 0.86% to 50,906.05, while the Nasdaq rose 0.24% to 26,861.06 and the VIX edged up to 16.34. Technology (+0.64%) was the only sector to finish higher; Consumer Staples (-1.53%), Health Care (-1.35%) and Industrials (-1.27%) lagged. September closed with the Dow down 4.9% and the S&P 500 down 0.7%, against a 1.7% gain for the Nasdaq. Brent's front month rolled to December as the November contract expired at $103.53; December settled up 1.94% to $98.03 as Middle East export flows approached pre-war levels. Gold rose 0.20% to $4,189.10 and the dollar was little changed (DXY +0.08% to 101.49). Among individual names, Jabil led S&P 500 decliners, down 10.03% despite a fiscal fourth-quarter beat and fiscal 2027 guidance above consensus, with Moderna (-5.35%) and AppLovin (-4.98%) also lower, while Gen Digital (+5.61%), Cboe Global Markets (+5.17%) and Synopsys (+4.78%) led gainers. Micron reports after the close. The week ahead brings ISM manufacturing PMI and weekly jobless claims alongside remarks from Governors Waller and Cook and Vice Chairs Jefferson and Bowman on October 1, September nonfarm payrolls on October 2, the ISM services PMI on October 5, and the August trade balance on October 6.
Tormere Research:Communications · Tormere Analytics
tormere.com · Not investment advice