US Equities · Pre-Open BriefingAlso todaySee the US Macro Daily
Stocks rise on Fed odds and inflation
September 28, 2026
The September 25, 2026 cash session, and what is scheduled today
The S&P 500 rose 0.51% to 7,743.41 and the Nasdaq Composite rose 0.48% to 27,068.72, with the Nasdaq-100 up 0.42%.
Breadth329 up / 172 down
LeadershipS&P 500 by 0.09pp
Member coverage100%
Futures now
Ahead of the open, S&P 500 futures are down 0.46%, Nasdaq 100 futures down 0.84%, Dow futures down 0.53% and Russell 2000 futures down 0.60% against their previous settlement. In Asia, the Nikkei 225 is down 0.73%, the Hang Seng up 0.54% and the Shanghai Composite down 1.67%. In Europe, the Euro Stoxx 50 is up 0.08%, the DAX little changed and the FTSE 100 up 0.23%. Across markets, WTI is up 3.65% at 95.78, Gold is down 3.20% at 4,183.10 and EUR/USD is little changed at 1.1375.
| Market | Level | Change | As of |
|---|---|---|---|
| S&P 500 futures | 7,768.00 | -35.75 (-0.46%) | 2026-09-28 |
| Nasdaq 100 futures | 30,628.50 | -260.75 (-0.84%) | 2026-09-28 |
| Dow futures | 51,887.00 | -276.00 (-0.53%) | 2026-09-28 |
| Russell 2000 futures | 2,842.10 | -17.20 (-0.60%) | 2026-09-28 |
Where the tape closed
S&P 500
7,743.41
+39.28 (+0.51%)
5d +1.21% · 1m +0.88%
Nasdaq Composite
27,068.72
+129.35 (+0.48%)
5d +2.06% · 1m +3.59%
Nasdaq-100
30,608.13
+129.28 (+0.42%)
5d +3.25% · 1m +4.73%
VIX
14.87
-0.80 (-5.11%)
5d +0.41% · 1m +2.48%
The Session
Of the 503 S&P 500 members that printed, 329 rose and 172 fell. Industrials led the sector table at +0.84% on an equal-weighted basis and Energy sat at the bottom at -1.07%. Microsoft (MSFT) rose 3.66% and carried the largest share of the weighted index move. The VIX fell 5.11% to 14.87.
Sector news breakdown
Information Technology
- Gen Digital GENSPX -6.29% · GoDaddy GDDYSPX -3.64%Update: Market Chatter: Gen Digital Makes Initial Takeover Approach for GoDaddy (Updates with Gen Digital's and GoDaddy's responses in the fourth paragraph, and each stock's premar… MT Newswires · Sep 25, 7:52 AM ET
- Microchip Technology MCHPSPXNDX +5.36%MCHP Expands 48V Power Portfolio: Can It Outpace TXN & ADI? Microchip Technology broadens its 48V power portfolio as data-center revenues surge, targeting AI servers and other high-growth power applications. Zacks · Sep 25, 10:22 AM ET
- Dell Technologies DELLSPX +5.01%Dell Stock Jumps as Morgan Stanley Raises Odds of $756 Bull Case Morgan Stanley Delivers Fresh AI Boost to Dell Stock as Bull Case Gains Ground… GuruFocus.com · Sep 25, 12:54 PM ET
- Qualcomm QCOMSPXNDX +3.97%Qualcomm Rallies 6% as Buyers Reverse Apple Renewal Selloff; Apple Stock Ticks Up Qualcomm sellers got the first word on the Apple renewal announcement, but buyers showed up next and disagreed sharply. What changed between those two reactions tells a more complicated story about what the deal actually means for Qualcomm. 24/7 Wall St. · Sep 25, 1:02 PM ETQualcomm Renews Apple Patent Deal: Can QTL Regain Momentum? QCOM renews its Apple patent deal through 2027, offering licensing visibility as weaker smartphone demand pressures QTL revenue. Zacks · Sep 25, 12:11 PM ET
- Microsoft MSFTSPXNDX +3.66%Wall Street ends higher as investors buy AI stocks; Microsoft rallies By Noel Randewich and Johann M Cherian Sept 25 (Reuters) - Wall Street ended higher on Friday, lifted by Microsoft and other AI-related technology stocks, while high oil prices and a recent surge in… Reuters · Sep 25, 4:19 PM ETMicrosoft, IBD Stock Of The Day, Makes Bullish Move As Software Giant Launches AI Super-App Microsoft rose Friday after the announcing a revamped version of its Copilot artificial intelligence tool. Investor's Business Daily · Sep 25, 5:04 PM ET
- Apple Inc. AAPLSPXNDX +1.53%Apple (AAPL) Reaches $250 Million Siri Settlement Over Recent iPhone Claims Apple (NasdaqGS:AAPL) agreed to a US$250 million class action settlement tied to Siri and Apple Intelligence features in recent iPhones. The deal covers a broad group of U.S. buyers of recent iPhone models who claimed they were misled about Siri feature access. Simply Wall St. · Sep 25, 3:08 PM ETQualcomm Rallies 6% as Buyers Reverse Apple Renewal Selloff; Apple Stock Ticks Up Qualcomm sellers got the first word on the Apple renewal announcement, but buyers showed up next and disagreed sharply. What changed between those two reactions tells a more complicated story about what the deal actually means for Qualcomm. 24/7 Wall St. · Sep 25, 1:02 PM ET
- Sandisk SNDKSPXNDX +1.38%Are AI Memory Stocks Ready For Another Run? Micron, Sandisk Attempt To Clear New Buy Points Are AI memory stocks ready to run again? Micron stock, Sandisk and SK Hynix are in or near buy zones in the ongoing market rally. Investor's Business Daily · Sep 25, 8:00 AM ET
Communication Services
- Meta Platforms METASPXNDX -3.33%Twilio Stock Is Falling. Yes, It’s About Meta’s Muse. Twilio drops after HSBC downgrades the stock on concerns that investors overestimated early gains from Meta’s Muse. Barrons.com · Sep 25, 12:17 PM ETWhy Meta Stock Could Spike if It Crosses This Price Target Shares of Meta Platforms are having a moment, fueled by excitement from Wall Street and consumers alike around the Facebook-parent’s consumer artificial-intelligence model Muse and the company’s overarching AI ecosystem. Barrons.com · Sep 25, 1:13 PM ET
Consumer Discretionary
- Darden Restaurants DRISPX -3.61%How To Earn $500 A Month From Darden Restaurants Stock Ahead Of Q1 Earnings As Darden Restaurants, Inc prepares to release its fiscal first-quarter earnings report before the opening bell on Thursday, Sept. 24, investors may be eyeing potential gains from the company’s dividends. Currently, the restaurant chain operator offers an annual dividend yield... Benzinga · Sep 24, 8:30 PM ET
- Tesla, Inc. TSLASPXNDX -1.54%Tesla Starts Semi Deliveries. Here's The Final Production Target — With No Timeline Tesla will start shipping its new Semi truck to customers this week, company executives said at an event on Thursday. With the launch of the Semi, Tesla is pushing into a new category of EVs beyond its current passenger sedans and SUVs. Investor's Business Daily · Sep 25, 1:19 PM ETTesla Stock: Tent-Shaped Options Strategy Strives To Surpass $3,700 In Profit Tesla stock is in focus with this butterfly spread options trade. It's an income-oriented strategy with an attractive risk-reward profile. Investor's Business Daily · Sep 25, 1:50 PM ET
Financials
- PayPal PYPLSPXNDX +4.64%PayPal Stock Jumps on Fresh Takeover Chatter After Stripe Walks Away PayPal Gets Fresh Buyout Buzz as New Bid Emerges After Stripe Talks Collapse… GuruFocus.com · Sep 25, 1:00 PM ET
Industrials
- Bloom Energy BESPX +8.27%Bloom Energy Stock Is Today’s Top S&P 500 Performer. It Has a Lot to Do With Oracle. Bloom Energy jumps after a Wall Street analyst reassures investors the company won’t be affected by Oracle’s force majeure notice. Barrons.com · Sep 25, 2:41 PM ETBE Stock Eyes Best Month Since April: Oracle Reaffirms 2.4 GW Fuel Cell Deal Amid Project Jupiter Jitters Project Jupiter is part of a broader Oracle agreement to procure up to 2.8 GW of Bloom systems. Stocktwits · Sep 25, 3:26 AM ET
Consumer Staples
- Costco COSTSPXNDX +2.93%Costco tops Wall Street estimates as digital sales surge Costco Wholesale Corporation (NASDAQ:COST, XETRA:CTO) reported fiscal fourth-quarter profit and revenue that topped Wall Street estimates, driven by strong membership fee growth and digital sales. The warehouse retailer posted earnings of $6.75 per share for the 16-week period, up 15% from a... Proactive · Sep 25, 9:14 AM ETCostco Wholesale's Growth Story Is Evolving, Not Ending, UBS Says Costco Wholesale (COST) Q4 results reinforced the notion that its growth story is evolving rather th… MT Newswires · Sep 25, 3:18 PM ET
Moved more than 3% with no company-specific item clearing the relevance bar: ON +5.54% · GNRC +5.09% · CVS +4.80% · IT +4.78% · CHTR -3.95% · PANW -3.89% · DVN -3.78% · CBOE -3.57% · INTC -3.45%.
The day ahead
Economic calendar
| Time | Release | Impact | Consensus | Previous |
|---|---|---|---|---|
| 08:15 ET | Speech by Fed's Bowman | Medium | — | — |
| 10:30 ET | Dallas Fed Manufacturing Index | Medium | — | 11.6 |
| 13:30 ET | Speech by Fed's Barkin | Medium | — | — |
Reporting today
No universe name on the reporting calendar for today.
Overnight and across markets
Asia and Europe
| Market | Level | Change | As of |
|---|---|---|---|
| Nikkei 225 | 65,877.62 | -486.59 (-0.73%) | 2026-09-28 |
| Hang Seng | 24,642.51 | +132.42 (+0.54%) | 2026-09-28 |
| Shanghai Composite | 3,823.62 | -64.75 (-1.67%) | 2026-09-28 |
| Euro Stoxx 50 | 6,307.84 | +5.02 (+0.08%) | 2026-09-28 |
| DAX | 25,409.14 | +0.50 (+0.00%) | 2026-09-28 |
| FTSE 100 | 10,719.95 | +24.65 (+0.23%) | 2026-09-28 |
Commodities, currencies and rates
| Market | Level | Change | As of |
|---|---|---|---|
| WTI crude | 95.78 | +3.37 (+3.65%) | 2026-09-28 |
| Gold | 4,183.10 | -138.10 (-3.20%) | 2026-09-28 |
| EUR/USD | 1.1375 | +0.0001 (+0.00%) | 2026-09-28 |
| USD/JPY | 157.00 | -1.81 (-1.14%) | 2026-09-28 |
| US 10-year yield | 5.17% | — | 2026-09-25 |
Where the indices sit
S&P 500 daily bars for the last 30 sessions, then three months of closes rebased to 100.
What carried the session
Proxy: dollar-volume share among members that printed, times the move. Not official index weight.
| Ticker | Name | Session | Contribution |
|---|---|---|---|
| MSFTSPXNDX | Microsoft | +3.66% | +16.7 bp |
| METASPXNDX | Meta Platforms | -3.33% | -14.9 bp |
| BESPX | Bloom Energy | +8.27% | +9.6 bp |
| INTCSPXNDX | Intel | -3.45% | -9.5 bp |
| TSLASPXNDX | Tesla, Inc. | -1.54% | -6.0 bp |
| DELLSPX | Dell Technologies | +5.01% | +5.7 bp |
| SNDKSPXNDX | Sandisk | +1.38% | +4.1 bp |
| AAPLSPXNDX | Apple Inc. | +1.53% | +3.6 bp |
Breadth and sectors
Sector moves equal-weighted across members that printed.
| Sector | Average member move | Members |
|---|---|---|
| Industrials | +0.84% | 83 |
| Information Technology | +0.76% | 74 |
| Consumer Discretionary | +0.66% | 47 |
| Health Care | +0.58% | 60 |
| Financials | +0.50% | 76 |
| Utilities | +0.40% | 31 |
| Consumer Staples | +0.23% | 33 |
| Real Estate | +0.08% | 30 |
| Materials | -0.02% | 25 |
| Communication Services | -0.64% | 23 |
| Energy | -1.07% | 21 |
Largest moves
Risers
| Ticker | Name | Session |
|---|---|---|
| BESPX | Bloom Energy | +8.27% |
| ONSPX | ON Semiconductor | +5.54% |
| MCHPSPXNDX | Microchip Technology | +5.36% |
| GNRCSPX | Generac | +5.09% |
| DELLSPX | Dell Technologies | +5.01% |
| CVSSPX | CVS Health | +4.80% |
| ITSPX | Gartner | +4.78% |
| PYPLSPXNDX | PayPal | +4.64% |
Fallers
| Ticker | Name | Session |
|---|---|---|
| GENSPX | Gen Digital | -6.29% |
| CHTRSPX | Charter Communications | -3.95% |
| PANWSPXNDX | Palo Alto Networks | -3.89% |
| DVNSPX | Devon Energy | -3.78% |
| GDDYSPX | GoDaddy | -3.64% |
| DRISPX | Darden Restaurants | -3.61% |
| CBOESPX | Cboe Global Markets | -3.57% |
| INTCSPXNDX | Intel | -3.45% |
Earnings reported in the session
Beat and miss shown only where consensus and actual are both published.
No universe names in the earnings feed for this session.
Headlines in the session window
Fed and macro
- Durable Goods Orders Month-over-Month2026-09-25 · High impact
- Fed Hammack Speech2026-09-25 · High impact
- Durable Goods Orders Month-over-Month2026-09-25 · High impact
- Fed Hammack Speech2026-09-25 · High impact
- Apollo’s Slok Warns of Inflation Risk From Diesel SurgeBloomberg Markets
- Fed's Hammack Warns 'Inflationary Mindset' Might Set InBloomberg Markets
- Barkin says time to focus on inflation Richmond Fed chief says it's time to push back on inflation - InsuranceNewsNetGoogle News US
- Fed's Hammack worried inflation expectations could deteriorate - ReutersReuters Business
What to watch
scheduled US macro: Durable Goods Orders Month-over-Month (2026-09-25); Fed Hammack Speech (2026-09-25); Durable Goods Orders Month-over-Month (2026-09-25).
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