Traders work on the floor of the New York Stock Exchange (NYSE) on Sept. 29, 2026 in New York City. <\/p>\n
Spencer Platt | Getty Images<\/p>\n
The S&P 500<\/a> pulled back on Wednesday, pressured by a move higher in Treasury yields, as investors reacted to hotter-than-expected September consumer inflation data<\/a>.<\/p>\n The broad market index was down 0.9%, while the Nasdaq Composite<\/a> shed 1.3%. The Dow Jones Industrial Average<\/a> outperformed, falling just 60 points, or 0.1%, with losses kept in check by gains in key healthcare stocks such as UnitedHealth<\/a> and Amgen<\/a>.<\/p>\n The consumer price index rose 0.6% in September month over month, with its year-over-year gain coming in at 3.7%. While the former was in line with expectations, the latter was hotter than expected, as economists polled by Dow Jones had anticipated a 3.6% advance on the year.<\/p>\n Excluding food and energy prices, core CPI posted a monthly and yearly advance of 0.3% and 2.6%, respectively. Both were also slightly higher than the increase of 0.2% and 2.5% that economists had expected.<\/p>\n Treasury yields jumped following the report. The 10-year Treasury<\/a> yield rose more than 7 basis points to 5.293%, and the 30-year Treasury<\/a> yield up more than 4 basis points at 5.609%. Both had hit new 24-year highs<\/a> last week.<\/p>\n “Today’s release should be a modest headwind to risk assets, as expectations for near-term rate hikes increases pressure on the long end of the curve which should strengthen the dollar but be a headwind for equity valuations,” said Jeff Schulze, head investment strategist at Franklin Templeton Institute.<\/p>\n The report comes as oil prices remain elevated and consumers pay more for gasoline, which is averaging at $4.34 a gallon, compared to $3.08 per gallon a year earlier, according to AAA<\/a>. Last week, President Donald Trump<\/a> announced he would temporarily ease restrictions<\/a> on Russian diesel fuel exports, but analysts don’t believe the deal will do much to lower fuel prices<\/a> for truckers and farmers.<\/p>\n U.S. oil prices moved higher Wednesday, with U.S. West Texas Intermediate futures<\/a> up 1% at around $95 per barrel.<\/p>\n Bank of America<\/a> shares declined 7% after the banking giant reported third-quarter results<\/a>. The numbers come a day after BofA was hit with more than $1.2 billion in federal penalties<\/a>, with regulators saying the bank failed to report more than $5 billion in “suspicious” transactions. Morgan Stanley<\/a>‘s latest quarterly results topped expectations<\/a>, though the stock was last trading nearly 2% lower.<\/p>\n A swath of big banks posted strong quarterly results Tuesday, but shares ended the day lower, with Goldman Sachs<\/a> and Citigroup<\/a> falling. The market’s reaction suggested businesses have a higher bar to clear during the third-quarter earnings season \u2014 especially in tech where semiconductors are expected to be the largest contributor to year-over-year earnings growth.<\/p>\n Chip stocks also added to their recent declines<\/a>. Micron Technology<\/a>, which shed more than 3% in the prior trading day, dropped 1%. Advanced Micro Devices<\/a> also dropped 3%, while Intel<\/a> and Sandisk<\/a> each lost 2%.<\/p>\n","protected":false},"excerpt":{"rendered":"Traders work on the floor of the New York Stock Exchange (NYSE) on Sept. 29, 2026 in New…\n","protected":false},"author":2,"featured_media":646286,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[10387,73605,290728,972,913,941,114,357,2968,1657,4773,2969,6420,54,1761,1012,1675,2226,2970,170,18886,85,756,21748,98708,46,1437,7258,190,10388,4106,1763,1008,1762,3310,76570,11471,28317,226781,1760,18195,29170,245570,3309,2788,1032,7062,12389,142734,7147,4769,30938],"class_list":["post-646285","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-advanced-micro-devices-inc","tag-amgen-inc","tag-asml-holding-n-v","tag-australia","tag-bank-of-america-corp","tag-breaking-news-markets","tag-business","tag-business-news","tag-cac-40-index","tag-china","tag-citigroup-inc","tag-dax","tag-donald-j-trump","tag-donald-trump","tag-dow-jones-fut-sep25","tag-dow-jones-industrial-average","tag-economic-events","tag-france","tag-ftse-100","tag-germany","tag-goldman-sachs-bdc-inc","tag-il","tag-inc","tag-intel-corp","tag-ishares-semiconductor-etf","tag-israel","tag-japan","tag-kospi-index","tag-markets","tag-micron-technology-inc","tag-morgan-stanley","tag-nasdaq-100-fut-sep25","tag-nasdaq-composite","tag-sp-500-fut-sep25","tag-sp-500-index","tag-sandisk-corp","tag-south-korea","tag-spdr-sp-500-etf-trust","tag-state-street-financial-select-sector-spdr-etf","tag-stock-markets","tag-stoxx-600","tag-suppress-zephr","tag-the-goldman-sachs-group","tag-u-s-10-year-treasury","tag-u-s-30-year-treasury","tag-united-states","tag-unitedhealth-group-inc","tag-vaneck-semiconductor-etf","tag-wd-40-co","tag-wells-fargo-co","tag-western-digital-corp","tag-wti-crude-sep25"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/646285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=646285"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/646285\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/646286"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=646285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=646285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=646285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}