Closing Bell: September Ends Mixed as Late Selloff Erases Rally

Stocks closed mixed on Wednesday, the final trading day of September, as a late-day selloff erased an early rally prompted by better than expected economic data. 

The S&P 500 (SPX) was down 0.25% Wednesday, and the Dow Jones Industrial Average ($DJI) moved lower by 0.86%. The Russell 2000 (RUT) fell 0.39%. The tech-heavy Nasdaq-100 (NDX) rose 0.23%. A notable S&P 500 stock advancer: Hewlett Packard Enterprise Company (HPE) rallied 3.9% on a $1.2 billion order for its AMD Helios AI rack. 

For the month, the S&P 500 was down fractionally, but the Dow slipped more than 4%, and the Russell 2000 fell more than 5%. The Nasdaq-100, however, rose more than 3% in September. 

The U.S. benchmark price for crude oil (/CL) was up about 1% Wednesday to roughly $90 per barrel, and rose 4.7% for the month. 

Wednesday morning's softer core PCE inflation reading had lifted stocks as much as 0.7% before elevated Treasury yields pulled the market back down. U.S. gross domestic product (GDP) increased at an annual rate of 2.2% in Q2 of 2026, a notable upward revision from the previously reported 1.5% pace.

Three Things to Watch from Wednesday’s Market: 

Micron's Earnings Test Shares of memory and storage giant Micron Technology (MU) 

were little changed after it reported better than expected fourth quarter results. Adjusted earnings came in at $33.42 per share, with revenue of $54.22B. The 379% surge in revenue from the year-ago quarter was driven by strong AI data center demand for memory and storage chips. Analysts forecast earnings of $31.61 per share and revenue of $51.33B, according to Zacks. See EARNINGS ALERT: MU | Market On Close and Micron Earnings: Triple-Digit EPS, Revenue Growth, and Strong Margins? 

Boeing's Big Contract Boeing (BA) closed down 1% despite news that the Pentagon awarded it a $20 billion contract to develop next-generation fighter jets for the Navy and Air Force. The aerospace giant beat out Northrop Grumman (NOC) for the deal. The stock's muted reaction reflected broader investor caution toward defense names as elevated Treasury yields pressure valuations. See BA Wins $20B U.S. Navy Contract Following Stock Price Plunge  

Inflation Cools, Fed Bets Shift August core PCE inflation rose 3% year over year, down from 3.3% and below the 3.3% economists expected, while headline PCE cooled to 3.4% from 3.7%. The data cut the odds of a quarter-point Fed rate hike next month to 35% from 52%. But a stronger-than-expected ADP payrolls print of 90,000 jobs kept focus on Friday's jobs report. See PCE Pushes Equities, Cuts into Interest Rate Hike Changes as Oil Flows Improve  

For more on this Week's Economic and Earnings Calendar, see Week Ahead: Watch Jobs Data, GDP, and Micron Technology (MU) Earnings 

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