US close: Stocks mixed as inflation picks up, trade deficit widens

30th Sep 2026 22:04

(Sharecast News) - Major indices delivered a mixed performance on Wednesday as traders digested a heavy slate of economic data, led by a firmer August PCE inflation print and further signs of cooling activity across housing, trade and inventories.

At the close, the Dow Jones Industrial Average was down 0.86% at 50,906.05, while the S&P 500 saw out the session 0.25% softer at 7,651.54 and the Nasdaq Composite saw out the session 0.24% stronger at 26,861.06.

The Dow closed 443.87 points lower on Wednesday, extending losses recorded in the previous session as equities came under pressure from rising Treasury yields.

Wednesday's primary focus was news that US inflation firmed in August, with the personal consumption expenditures price index rising 0.3% on the month and 3.4% year‑on‑year, according to the Bureau of Economic Analysis. Economists expected a 0.3% monthly uptick and a 3.7% annualised increase. Core PCE, which strips out volatile food and energy costs, increased 0.2% on the month and 3.0% over the year. Personal consumption expenditures jumped $190.8bn, a 0.9% monthly rise, driven by a $114.1bn increase in goods spending and a $76.7bn rise in services. Real PCE was up 0.6%.

Elsewhere on the macro front, US mortgage applications fell sharply in the week ended 25 September as rising borrowing costs continued to weigh on demand, according to the Mortgage Bankers Association. Applications declined 6%, marking a fourth straight weekly drop, as the average rate on 30‑year fixed conforming mortgages climbed to 7.30% from 7.12%. Applications to refinance a mortgage fell 13%, while applications to purchase a home slipped 4%.

On another note, US wholesale inventories were estimated to have risen 0.7% in August to $965.7bn, according to a preliminary reading from the Census Bureau, following a 1.3% increase in July. The August gain would mark a seventh straight monthly rise, supported by a 0.7% increase in durable goods inventories and a 0.5% uptick in non-durable stocks. On an annualised basis, wholesale inventories were projected to be 6.6% higher.

Still on data, the US goods trade deficit widened sharply in August, according to an advanced estimate from the Census Bureau, rising to $132.6bn from $118.9bn in July - the largest gap since March 2025 and well above expectations for a $115bn shortfall. Imports climbed 5.5% to a 17‑month high of $336.1bn, driven by a 16.6% surge in industrial supplies and a 4% rise in capital goods, including computers, semiconductors and telecoms equipment, while exports also picked up, rising 1.9% to $203.4bn after three months of declines, helped by stronger shipments of industrial supplies and capital goods.

Moving on, US economic growth was revised slightly lower in the second quarter, with real GDP rising at an annualised 2.2%, according to the Bureau of Economic Analysis' third estimate, down from 2.5% in the first quarter. The BEA said second‑quarter growth was driven by consumer spending, investment and exports, while imports - which subtract from GDP - also increased. State‑level performance varied widely, with real GDP ranging from 4% growth in New York to a 2.3% contraction in West Virginia.

Finally, the Chicago purchasing managers index jumped in September, according to the Institute for Supply Management, pointing to a sharp rebound in the region's manufacturing sector. The index rose to 58.8, well above expectations for a readinf of 51.2 and up strongly from 47.1 in August.

Comments from New York Fed president John Williams were also in focus on Wednesday, with the policymaker saying late on Tuesday that "there is no need for urgency" and that the central bank has time to assess incoming data ahead of its October meeting. His remarks appeared to steady sentiment and temper expectations for further tightening. According to the CME FedWatch tool, markets have now priced in a 49% chance of a quarter‑point rate rise next month, down from 71% on Monday.

Treasuries also continued to draw an amount of investor attention, with the yield on the benchmark 10-year Treasury note ending the session up roughly four basis points at 5.298%, while the 30-year note was last nearly five basis points higher at 5.642%.

In the corporate space, Micron posted stronger‑than‑expected quarterly results after the close as the memory‑chip maker continued to benefit from surging demand tied to AI infrastructure, with the shares edging higher in after‑hours trade. Adjusted earnings per share came in at $33.42, ahead of the $31.61 expected, while revenues rose to $54.23bn, topping forecasts of $51.07bn and almost quadrupling from $11.32bn a year earlier. For the fiscal first quarter, Micron guided to revenues of around $61.5bn and adjusted EPS of $38.15, well above analysts' expectations for $35.40 on $57bn of revenue.

Reporting by Iain Gilbert at Sharecast.com

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Intel Corp. (INTC) $120.23 4.22%

Microsoft Corp. (MSFT) $512.90 2.01%

Salesforce.Com Inc. (CRM) $229.57 1.89%

Cisco Systems Inc. (CSCO) $107.63 1.11%

Amgen Inc. (AMGN) $421.51 0.63%

Apple Inc. (AAPL) $333.02 0.06%

Walmart Inc. (WMT) $0.00 0.00%

Dowdupont Inc. (DWDP) $0.00 0.00%

Walgreens Boots Alliance, Inc. (WBA) $0.00 0.00%

International Business Machines Corporation (CDI) (IBM) $219.93 -0.03%

Dow Jones - Fallers

Merck & Co. Inc. (MRK) $145.31 -2.68%

3M Co. (MMM) $164.15 -2.59%

Unitedhealth Group Inc. (UNH) $367.08 -2.10%

Procter & Gamble Co. (PG) $145.28 -2.08%

Caterpillar Inc. (CAT) $810.79 -1.92%

Travelers Company Inc. (TRV) $356.51 -1.84%

Visa Inc. (V) $359.33 -1.79%

Goldman Sachs Group Inc. (GS) $900.36 -1.73%

McDonald's Corp. (MCD) $230.94 -1.30%

JP Morgan Chase & Co. (JPM) $330.83 -1.24%

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Synopsys Inc. (SNPS) $434.94 7.29%

Gen Digital Inc. (GEN) $22.02 6.89%

Dxc Technology Company (DXC) $10.83 4.84%

Cadence Design Systems Inc. (CDNS) $330.18 4.54%

Under Armour Inc. Class A (UAA) $4.46 4.45%

NetApp Inc. (NTAP) $210.08 4.25%

Intel Corp. (INTC) $120.23 4.22%

Adobe Systems Inc. (ADBE) $239.94 4.16%

Hewlett Packard Enterprise (HPE) $63.89 3.89%

Take-Two Interactive Software Inc. (TTWO) $207.50 3.58%

S&P 500 - Fallers

Coterra Energy Inc. (CTRA) $32.56 -8.62%

Carmax Inc. (KMX) $55.11 -7.07%

General Mills Inc. (GIS) $32.16 -4.91%

ConAgra Brands Inc (CAG) $13.44 -4.82%

Mattel Inc. (MAT) $12.66 -4.49%

General Motors Corp (GM) $77.00 -4.31%

Brighthouse Financial, Inc. (BHF) $49.90 -4.28%

Northrop Grumman Corp. (NOC) $483.48 -4.19%

McCormick & Co. (MKC) $46.40 -4.13%

Fluor Corp. (FLR) $47.88 -3.91%

Nasdaq 100 - Risers

Synopsys Inc. (SNPS) $434.94 7.29%

Gen Digital Inc. (GEN) $22.02 6.89%

Cadence Design Systems Inc. (CDNS) $330.18 4.54%

Intel Corp. (INTC) $120.23 4.22%

Adobe Systems Inc. (ADBE) $239.94 4.16%

Take-Two Interactive Software Inc. (TTWO) $207.50 3.58%

Intuit Inc. (INTU) $275.71 3.46%

Cognizant Technology Solutions Corp. (CTSH) $57.44 2.51%

Autodesk Inc. (ADSK) $209.00 2.45%

Workday, Inc. (WDAY) $190.46 2.40%

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Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

Liberty Global plc Series A (LBTYA) $9.13 -3.08%

Paypal Holdings Inc (PYPL) $52.53 -3.06%

Cintas Corp. (CTAS) $195.06 -2.96%

Microchip Technology Inc. (MCHP) $77.77 -2.80%

DENTSPLY Sirona Inc. (XRAY) $8.86 -2.74%

Skyworks Solutions Inc. (SWKS) $85.48 -2.72%

Mondelez International Inc. (MDLZ) $57.82 -2.61%

American Airlines Group (AAL) $13.37 -2.37%

Liberty Global plc Series C (LBTYK) $8.89 -2.25%