Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Sept. 28, 2026.
Brendan McDermid | Reuters
Stock futures were little changed Wednesday evening as Wall Street geared up for the start of a new trading month.
Futures tied to the Dow Jones Industrial Average added 60 points, or 0.1%. S&P 500 futures and Nasdaq-100 futures each gained 0.1%.
In regular trading, the broad-market S&P 500 dropped 0.3%, while the Dow lost more than 440 points, or 0.9%. The Nasdaq Composite outperformed, advancing 0.2% on the day.
September, historically a weak month for stocks, wasn’t kind to the S&P 500, which dropped 0.5%. Investors grappled with higher oil prices and a surge in Treasury yields, stoking fears of additional rate hikes. The Dow lost 4.3%, while the Nasdaq outperformed and gained 1.9% in the month.
Wednesday also marked the end of the third quarter. The S&P 500 and the Nasdaq each advanced about 2%, while the Dow lost 2.7%.
Investors are heading into the new trading month weighing a softer inflation picture against still elevated Treasury yields and uncertainty over the Federal Reserve’s next rate decision, which is scheduled for the end of October. They’re also looking ahead to a fresh round of earnings reports from companies.
“While those factors remain headwinds, corporate earnings have continued to show resilience,” said Tracie McMillion, head of global asset allocation strategy at Wells Fargo Investment Institute. “The key question is whether that earnings strength can continue as borrowing costs remain elevated.”
Treasury yields crept higher even as the personal consumption expenditures price index reading for August came in lighter than anticipated. The metric rose 3.4% over the prior 12 months, coming in cooler than the Dow Jones consensus call for 3.7%.
The 10-year Treasury yield breached 5.3% at one point on Wednesday, trading near 2007 highs. The 30-year yield surpassed 5.6%, reaching its highest level since 2002.
On Thursday, investors will digest initial jobless claims, due out at 8:30 a.m. ET. That release will be followed by Friday’s September jobs report.
Nike will report earnings after the bell.
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