Stocks Mixed as Dow Lags Tech; Oil Volatility Dominates Session
MarketsFN Team
Nasdaq Outperforms in Choppy Session as Oil Markets See Wild Swings
US equities closed mixed on Wednesday as the Nasdaq 100 eked out a 0.23% gain to 30,408.50 while the Dow Jones fell 0.86% amid divergent sector performance. Crude oil markets saw extreme volatility with WTI jumping 1.32% while Brent collapsed 4.36% on conflicting supply signals.
🇺🇸 US Session Overview
The S&P 500 dipped 0.25% to 7,651.54 as energy stocks struggled despite WTI's gains, while tech names continued their September rally with Meta extending its best monthly performance since 2022. The Russell 2000 declined 0.39%, reflecting ongoing small-cap weakness. Market breadth remained poor with headlines noting 75% of S&P 500 stocks had negative September returns.
📅 Economic Calendar Highlights
US data showed resilience with Q2 GDP revised up to 2.2% (vs 1.5% forecast) and ADP employment beating at 90K jobs. The Core PCE YoY held at 3.0%, matching expectations, while Chicago PMI surged to 58.8 from contraction territory. Overseas, China's Manufacturing PMI returned to expansion at 50.1, while Germany saw hotter-than-expected September CPI at 3.3% YoY.
💱 FX & Commodities
The DXY gained traction as EUR/USD fell 0.41% to 1.1326 on German economic concerns, while AUD/USD plunged 1.02% after weak building approvals. Gold edged up 0.22% to $4,188.70 despite dollar strength. Oil markets diverged sharply with WTI rising to $90.56 on inventory draws while Brent cratered to $98.12 amid reports of normalized Hormuz shipments.
Markets await Thursday's US PCE inflation data and ISM Manufacturing PMI for fresh direction, with Asian traders set to react to China's improving PMI figures. The Nasdaq's relative strength suggests tech may continue leading amid ongoing AI enthusiasm.
🇺🇸 US Indices — Session Close
| Index | Price | Change | Change % |
|---|---|---|---|
| S&P 500 | 7,651.54 | ▼ -19.30 | ▼ -0.25% |
| Nasdaq 100 | 30,408.50 | ▲ +69.17 | ▲ +0.23% |
| Dow Jones | 50,906.05 | ▼ -443.87 | ▼ -0.86% |
| Russell 2000 | 2,796.86 | ▼ -11.06 | ▼ -0.39% |
💱 FX Majors
| Pair | Rate | Change % |
|---|---|---|
| EUR/USD | 1.1326 | ▼ -0.41% |
| GBP/USD | 1.326 | ▲ +0.05% |
| USD/JPY | 157.5 | ▲ +0.09% |
| AUD/USD | 0.6945 | ▼ -1.02% |
| USD/CHF | 0.8361 | ▲ +0.52% |
🛢️ Commodities & Crypto
| Asset | Price (USD) | Change % |
|---|---|---|
| Gold (XAU/USD) | 4,188.70 | ▲ +0.22% |
| Silver (XAG/USD) | 60.69 | ▲ +0.03% |
| Crude Oil (WTI) | 90.56 | ▲ +1.32% |
| Brent Oil | 98.12 | ▼ -4.36% |
| Natural Gas | 3.02 | ▲ +0.23% |
| Bitcoin | 83,600.01 | ▼ -0.03% |
| Ethereum | 2,675.00 | ▼ -0.06% |
📅 Economic Calendar
All times in UTC — Actual highlighted where available
| Time | Currency | Event | Imp. | Actual | Forecast | Previous |
|---|---|---|---|---|---|---|
| 01:30 | CNY | Manufacturing PMI (Sep) | 🔴🔴🔴 | 50.1 | 50.1 | 49.8 |
| 06:00 | GBP | GDP (QoQ) (Q2) | 🔴🔴🔴 | 0.5% | 0.4% | 0.6% |
| 06:00 | GBP | GDP (YoY) (Q2) | 🔴🔴🔴 | 1.4% | 1.2% | 0.9% |
| 12:00 | EUR | German CPI (MoM) (Sep) | 🔴🔴🔴 | 0.6% | 0.5% | 0.2% |
| 12:15 | USD | ADP Nonfarm Employment Change (Sep) | 🔴🔴🔴 | 90K | 73K | 36K |
| 12:30 | USD | Core PCE Price Index (MoM) (Aug) | 🔴🔴🔴 | 0.2% | 0.3% | 0.1% |
| 12:30 | USD | Core PCE Price Index (YoY) (Aug) | 🔴🔴🔴 | 3.0% | 3.3% | 3.0% |
| 12:30 | USD | GDP (QoQ) (Q2) | 🔴🔴🔴 | 2.2% | 1.5% | 2.1% |
| 13:45 | USD | Chicago PMI (Sep) | 🔴🔴🔴 | 58.8 | 51.2 | 47.1 |
| 14:30 | USD | Crude Oil Inventories | 🔴🔴🔴 | 0.922M | -0.700M | 2.969M |
| 01:30 | AUD | Building Approvals (MoM) (Aug) | 🟡🟡 | -6.1% | -1.6% | -1.9% |
| 01:30 | CNY | Chinese Composite PMI (Sep) | 🟡🟡 | 50.7 | 49.5 | |
| 01:30 | CNY | Non-Manufacturing PMI (Sep) | 🟡🟡 | 50.2 | 49.2 | 49.0 |
| 01:45 | CNY | RatingDog Manufacturing PMI (MoM) (Sep) | 🟡🟡 | 52.1 | 51.7 | 51.5 |
| 01:45 | CNY | RatingDog Services PMI (Sep) | 🟡🟡 | 51.6 | 51.3 | 51.4 |
| 06:00 | GBP | Business Investment (QoQ) (Q2) | 🟡🟡 | 1.8% | 1.7% | 3.0% |
| 06:00 | GBP | Current Account (Q2) | 🟡🟡 | -19.9B | -25.6B | -21.1B |
| 06:00 | EUR | German Retail Sales (MoM) (Aug) | 🟡🟡 | 1.3% | 1.6% | -3.2% |
| 06:45 | EUR | French Consumer Spending (MoM) (Aug) | 🟡🟡 | -0.5% | 0.0% | 0.4% |
| 06:45 | EUR | French CPI (MoM) (Sep) | 🟡🟡 | -0.3% | -0.5% | 0.7% |
| 06:45 | EUR | French HICP (MoM) (Sep) | 🟡🟡 | -0.4% | -0.5% | 0.7% |
| 07:55 | EUR | German Unemployment Change (Sep) | 🟡🟡 | 12K | 1K | 5K |
| 07:55 | EUR | German Unemployment Rate (Sep) | 🟡🟡 | 6.4% | 6.4% | 6.4% |
| 09:30 | EUR | German 10-Year Bund Auction | 🟡🟡 | 3.580% | 3.390% | |
| 11:30 | BRL | Gross Debt-to-GDP ratio (MoM) (Aug) | 🟡🟡 | 82.9% | 83.1% | 82.5% |
| 12:00 | EUR | German CPI (YoY) (Sep) | 🟡🟡 | 3.3% | 3.1% | 2.9% |
| 12:30 | USD | Core PCE Prices (Q2) | 🟡🟡 | 3.30% | 3.60% | 4.40% |
| 12:30 | USD | GDP Price Index (QoQ) (Q2) | 🟡🟡 | 6.1% | 6.4% | 3.6% |
| 12:30 | USD | Goods Trade Balance (Aug) | 🟡🟡 | -132.60B | -116.30B | -118.80B |
| 12:30 | USD | PCE price index (MoM) (Aug) | 🟡🟡 | 0.3% | 0.4% | 0.1% |
| 12:30 | USD | PCE Price index (YoY) (Aug) | 🟡🟡 | 3.4% | 3.7% | 3.4% |
| 12:30 | USD | Personal Spending (MoM) (Aug) | 🟡🟡 | 0.9% | 0.8% | 0.1% |
| 12:30 | USD | Retail Inventories Ex Auto (Aug) | 🟡🟡 | 0.1% | 0.8% | |
| 14:30 | USD | Atlanta Fed GDPNow (Q3) | 🟡🟡 | 3.7% | 5.0% | 5.0% |
| 14:30 | USD | Cushing Crude Oil Inventories | 🟡🟡 | 0.553M | 2.266M | |
| 16:00 | RUB | Retail Sales (YoY) (Aug) | 🟡🟡 | 3.3% | 5.6% | 5.3% |
| 16:00 | RUB | Unemployment Rate (Aug) | 🟡🟡 | 2.2% | 2.2% | 2.3% |
| 16:01 | RUB | GDP Monthly (YoY) (Aug) | 🟡🟡 | 0.8% | 0.6% | |
| 19:30 | USD | U.S. President Trump Speaks | 🔴🔴🔴 | — | ||
| 02:20 | EUR | ECB's Elderson Speaks | 🟡🟡 | — | ||
| 07:00 | EUR | European Central Bank Non-monetary Policy Meeting | 🟡🟡 | — | ||
| 15:45 | EUR | ECB's Schnabel Speaks | 🟡🟡 | — | ||
| 22:00 | USD | FOMC Member Kashkari Speaks | 🟡🟡 | — |
Report published: September 30, 2026 — 22:20 CET
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