{
  "id": 10984655,
  "title": "S&P 500, Nasdaq advance as soft inflation tempers Fed rate-hike bets",
  "url": "https://urgent.news/2026/09/30/s-p-500-nasdaq-advance-as-soft-inflation-tempers-fed-rate-hike-bets-10984655",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-30T16:21:12.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40442014/sampp-500-nasdaq-advance-as-soft-inflation-tempers-fed-rate-hike-bets"
  },
  "original_language": "en",
  "account": "The Nasdaq soared above 1% on Wednesday, leading the surge of Wall Street's major indexes as a softer-than-expected inflation report bolstered expectations that the Federal Reserve may hold off on raising interest rates until the following month. According to a Commerce Department's report, the Personal Consumption Expenditures (PCE) price index clocked in at 3.4% annually in August, lower than the projected 3.7%, according to Reuters' economists survey. Meanwhile, second-quarter GDP data revealed a robust US economic expansion. \"The PCE report today was under a microscope as participants try to gauge how aggressively the Fed needs to hike rates,\" said Steve Wyett, chief investment strategist at BOK Financial. Traders now estimate a 38% probability of a rate hike in October, down from over 50% the previous day, as per the CME FedWatch Tool. Barclays analysts pointed out that recent adjustments in calculating PCE from the Bureau of Economic Analysis also played a role in the lower figure. Most mega-cap and growth stocks experienced an uptick, with Amazon and Apple climbing by around 2% each, while Alphabet surged by 3%. Software stocks led the gains, with Palo Alto Networks jumping 3.7%, Microsoft rising 1.9%, and Intuit adding 2.6%. However, chip stocks faced a setback, with Advanced Micro Devices and Broadcom plummeting nearly 1% each. At 11:49 a.m. ET, the Dow Jones Industrial Average slipped by 29.41 points, or 0.06%, to 51,320.51, the S&P 500 climbed 44.99 points, or 0.59%, to 7,715.83, and the Nasdaq Composite rose 285.41 points, or 1.07%, to 27,082.95. Five out of the 11 S&P 500 sectors were trading higher, with technology and energy leading the charge. Real estate and financials underperformed. Upcoming comments from at least four Federal Reserve officials, including Minneapolis Fed President Neel Kashkari, are anticipated later in the day. Despite September's volatility driven by bond market turbulence and soaring oil prices due to the US-Iran conflict, the S&P 500 and Nasdaq were on track for a second consecutive quarterly rise, should the gains persist. The Dow Jones, however, is expected to record a quarterly decline and its first monthly drop since March. On Wednesday, the yield on the 10-year Treasury bond hovered near its highest level since June 2007. Crude oil prices also rose, with Brent crude futures moving higher. Earlier this month, leaders of the leading AI companies had cautioned about the potential existential risks posed by the technology, which had unsettled the AI sector. Micron Technology's earnings, due after the bell, could be a critical test for AI sentiment. Other notable movers included Hewlett Packard Enterprise, which jumped 5.9% after raising its long-term revenue growth forecast for its networking business and securing a $1.2 billion deal with Vultr. Moderna slipped 7.2% following a downgrade from Citigroup, moving its rating from \"neutral\" to \"sell\". Advancing issues surpassed decliners on both the NYSE, with a ratio of 1.01-to-1, and the Nasdaq, at a ratio of 1.14-to-1. The S&P 500 achieved 9 new 52-week highs and 18 new lows, while the Nasdaq Composite set 38 new highs and 136 new lows.",
  "summary": "The Nasdaq jumped more than 1% on Wednesday, leading gains among Wall Street’s main indexes , as a softer-than-anticipated inflation reading buoyed hopes that the Federal Reserve might not hike rates as soon as next month. A Commerce Department report showed the Personal Consumption Expenditures (PCE) price index stood at 3.4% on an annual basis in August against estimates of 3.7%, per economists…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Euro finds support as softer US PCE data prompts traders to trim Fed rate-hike bets",
        "url": "https://urgent.news/2026/09/30/euro-finds-support-as-softer-us-pce-data-prompts-traders-to-trim-fed",
        "published": "2026-09-30T14:08:17.000Z"
      },
      {
        "outlet": "Seeking Alpha News",
        "title": "Fed rate-hike odds slide after softer PCE inflation print",
        "url": "https://urgent.news/2026/09/30/fed-rate-hike-odds-slide-after-softer-pce-inflation-print",
        "published": "2026-09-30T14:17:07.000Z"
      },
      {
        "outlet": "The Korea Times",
        "title": "S&P 500, Nasdaq advance as soft inflation tempers Fed rate-hike bets",
        "url": "https://urgent.news/2026/09/30/s-p-500-nasdaq-advance-as-soft-inflation-tempers-fed-rate-hike-bets",
        "published": "2026-09-30T16:37:02.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}