Dow Gains 20.51 Points as Treasury Yields Retreat, Lifting US Stocks to Modest Closing Gains

Mumbai, Oct 2: US stocks ended Thursday, 1 October, slightly higher after a volatile session in which investors initially pushed equities lower before a retreat in Treasury yields helped the major benchmarks recover.

The Dow Jones Industrial Average gained 20.51 points, or 0.04%, to close at 50,926.56. The S&P 500 rose 14.91 points, or 0.19%, to 7,666.45, while the Nasdaq Composite added 10.53 points, or 0.04%, to finish at 26,871.60.

The recovery came as the US 10-year Treasury yield pulled back from levels not seen since 2002. Technology and semiconductor stocks also found support after better-than-expected results from companies including Accenture and Micron Technology.

Dow Recovers After 250-Point Slide as Treasury Yields Reverse Higher

The Dow opened at 51,008.36 before falling to an intraday low of 50,546.54. It later recovered to a high of 51,179.78 and finished at 50,926.56.

Several large companies helped the index stay in positive territory. Boeing shares climbed 3.35%, while Salesforce rose 3.10% and IBM gained 2.59%. Caterpillar added 1.92%, Chevron advanced 1.42% and Honeywell rose 1.36%.

Healthcare and consumer-focused stocks, however, weighed on the index. Amgen dropped 3.38%, Johnson & Johnson fell 2.30% and Merck declined 1.03%. Procter & Gamble lost 0.92%, Nike slipped 0.88% and Apple fell 0.81%.

Bond markets were a key driver of the day’s swings. The 10-year Treasury yield briefly reached 5.344%, its highest level since April 2002, before falling back to 5.24%. The decline in yields helped ease some of the pressure on equities and allowed the Dow to recover from a fall of more than 250 points earlier in the session.

Investors were also digesting corporate earnings and fresh economic data. Accenture and Micron Technology reported stronger-than-expected results, while initial US jobless claims fell to 197,000.

The Dow’s modest advance ended a three-session losing streak. Despite Thursday’s gain, the index remained 7.0% below its 52-week high of 54,744.33 and 13.0% above its 52-week low of 45,057.28. Trading volume was about 476.4 million shares.

S&P 500 Adds 14.91 Points as Energy and Technology Shares Provide Support

The S&P 500 opened at 7,666.47 and moved between 7,616.78 and 7,684.75 during the session before ending at 7,666.45.

The benchmark benefited from gains in technology, energy and industrial stocks as the pullback in Treasury yields provided some relief to equity valuations. Accenture was among the biggest contributors, jumping 15.78% after its quarterly results. Synopsys surged 12.78%, while Fair Isaac Corporation gained 11.69%. Coherent rose 10.90% and Ciena advanced 7.77%.

Energy stocks also performed strongly. Marathon Petroleum climbed 6.25% and Valero Energy gained 5.38%, helped by higher crude oil prices. Lumentum Holdings added 7.67%.

There were some sharp declines elsewhere in the index. Corteva plunged 83.81% following its separation into two companies, making the move primarily a result of the corporate restructuring rather than a direct reflection of its operating performance.

Paramount Skydance fell 9.58%, Repligen declined 7.80% and Alnylam Pharmaceuticals dropped 6.31%. Bio-Rad Laboratories lost 5.86%, while Danaher and Thermo Fisher fell 4.42% and 3.34%, respectively. Amgen also declined 3.38%.

The S&P 500 finished 1.9% below its record high reached in August. Around 3.2 billion shares changed hands during the session as investors continued to weigh elevated bond yields, corporate earnings and the latest economic data.

 The benchmark’s gain was limited by weakness in healthcare and basic materials, which offset strength in energy and technology. The index remains 1.9% below its 52-week high of 7,816.70 and 21.4% above its 52-week low of 6,316.91.

Nasdaq Composite Gains 10.53 Points as Chip Stocks Rally, Lifting Technology Shares

The Nasdaq Composite opened at 26,992.31 and closed at 26,871.60, marking a gain of 10.53 points or 0.04%. Its intraday high stood at 27,014.47, while the low was 26,733.89, reflecting a session that saw the technology-heavy benchmark swing between gains and losses before settling modestly higher. Technology and growth-oriented shares including Synopsys recorded a movement of 12.78%, Cadence Design Systems advanced 6.22%, and MicroStrategy gained 4.84%, contributing to the index’s daily performance.

Micron Technology rose 3.06% after the memory chipmaker reported fiscal fourth-quarter earnings that beat expectations and raised its first-quarter outlook. Lam Research gained 3.53%, Applied Materials added 3.50%, and KLAC Corporation rose 2.77%. On the declining side, Amgen fell 3.38%, Regeneron Pharmaceuticals dropped 3.09%, and Netflix declined 2.49%. Broadcom lost 2.15%, AstraZeneca fell 2.33%, and Alphabet declined 1.70%. Qualcomm slipped 1.06%.

The technology-heavy benchmark responded to a combination of strong semiconductor earnings and a retreat in Treasury yields from multi-decade highs. Micron Technology’s results, which included adjusted earnings per share of $33.42 on revenue of $54.23 billion for the fiscal fourth quarter, underscored continued demand for memory chips driven by artificial intelligence infrastructure spending. The Nasdaq’s gain was tempered by weakness in biotechnology and communications shares. The index remains 1.5% below its 52-week high of 27,288.79 and 29.8% above its 52-week low of 20,690.25. Trading volume totalled 6.2 billion shares.

Russell 2000 Gains 0.35% as Small Caps Outperform Amid Falling Treasury Yields

The Russell 2000 opened at 2,794.52 and closed at 2,806.63, gaining 9.76 points or 0.35%. It recorded an intraday high of 2,820.77 and a low of 2,775.36. Movements among smaller-cap companies contributed to the benchmark’s performance, with Applied Optoelectronics rising 8.12%, Credo Technology gaining 7.90%, and PBF Energy advancing 6.99%. Viavi Solutions rose 6.82%, Vicor Corporation gained 6.80%, and Fabrinet added 6.40%. Materion Corporation advanced 5.77%, while HireRight Holdings gained 5.66%.

On the downside, GRAIL declined 5.40%, Scholar Rock Holding fell 4.47%, and IOVA dropped 3.98%. TG Therapeutics declined 3.87%, CG Oncology fell 3.58%, and Twist Bioscience lost 2.69%. Riot Platforms declined 2.68%. The small-cap benchmark outperformed the broader market as Treasury yields retreated, with the 2-year Treasury yield tumbling 10 basis points to 4.793%. The Russell 2000 had dropped more than 5% in September, bringing its third-quarter decline to approximately 7.5%. Despite the quarterly underperformance, the index has gained more than 12% in 2026. The index remains 8.6% below its 52-week high of 3,069.71.

S&P 100 Falls 0.027% as Large-Cap Shares Track Mixed Market Direction Today

The S&P 100 opened at 3,835.84 and finished at 3,821.95, recording a loss of 1.04 points or 0.027%. The index traded between 3,841.47 and 3,800.45 during the session, reflecting the mixed performance of large-cap constituents. Movements in major large-cap constituents, including Accenture’s gain of 15.78% and Synopsys’s advance of 12.78%, were offset by declines in Amgen at 3.38%, Johnson & Johnson at 2.30%, and Danaher at 4.42%. The index’s previous close was 3,822.99, and its 52-week high stands at 3,888.97, while the 52-week low is 3,074.00.

Among the top gainers within the S&P 100, Accenture led with a 15.78% advance, followed by Synopsys at 12.78% and Fair Isaac at 11.69%. Coherent Corp gained 10.90%, while Ciena Corporation rose 7.77%. Lumentum Holdings added 7.67% and Marathon Petroleum gained 6.25%. On the losing side, Corteva declined 83.81% due to its corporate split, while Paramount Skydance fell 9.58%. Repligen dropped 7.80%, Alnylam Pharmaceuticals declined 6.31%, and Bio-Rad Laboratories lost 5.86%. Danaher fell 4.42% and Amgen declined 3.38%. The index’s performance reflected the broader market’s rotation out of defensive healthcare and consumer staples shares into energy and technology names as bond yields retreated.

Dow Composite Gains 0.33% as Transport and Utility Averages Advance, Closing Higher

The Dow Jones Composite Average opened at 15,849.05 and closed at 15,880.13, gaining 52.08 points or 0.33%, after moving between a high of 15,908.08 and a low of 15,744.09. The Dow Jones Transportation Average ended at 19,604.51, compared with an opening level of 19,391.13, representing a 1.15% move or a gain of 222.42 points. The transportation index touched an intraday high of 19,647.65 and a low of 19,330.08. The Dow Jones Utility Average closed at 1,013.09, changing 0.31% from its opening level of 1,008.33, a gain of 3.18 points. The utility index traded between 1,014.63 and 999.82 during the session.

Strength in airline and logistics shares supported the transportation average, while lower Treasury yields aided utilities by reducing the appeal of fixed-income alternatives. The Dow Jones Composite Average, covering 65 companies across industrial, transportation and utility sectors, reflected this broad momentum. It remained 7.9% below its 52-week high of 17,246.95 and 12.7% above its 52-week low of 14,090.12.

SOX Gains 1.59% as Semiconductor Shares Rally on Micron Earnings Beat Today

The PHLX Semiconductor Sector Index (SOX) opened at 12,651.56 and closed at 12,829.00, gaining 200.38 points or 1.59%. Its intraday high was 12,913.40, while the low was 12,587.34. Semiconductor-related constituents such as Micron Technology moved 3.06%, Lam Research advanced 3.53%, and Applied Materials gained 3.50%, contributing to the sector benchmark’s daily performance. KLAC Corporation rose 2.77%, Monolithic Power Systems added 1.02%, and NXP Semiconductors traded relatively flat. Marvell Technology gained 1.46%, while Texas Instruments rose 0.44%.

Synopsys surged 12.78% after announcing multi-year artificial intelligence deals with OpenAI and Amazon, including a custom chip development agreement valued at over $1 billion. The semiconductor benchmark’s gain came amid strong demand signals from Micron Technology’s earnings report, which showed revenue close to a 400% year-over-year increase to $54.23 billion for the fiscal fourth quarter. The company projected current-quarter revenue of $60 billion to $63 billion, ahead of consensus projections. The SOX index remains 12.5% below its 52-week high of 14,655.29 and 108.3% above its 52-week low of 6,160.04.

NYSE Composite Gains 0.15% as Broader Shares Track Treasury Yield Retreat Today

The NYSE Composite Index opened at 23,431.23 and closed at 23,526.84, recording a gain of 36.05 points or 0.15%. The index traded between 23,553.54 and 23,333.36 during the session. Movements across energy, financial, and industrial segments contributed to its performance as the retreat in Treasury yields from multi-decade highs shaped broader US equity trading.

Among the top gainers listed on the NYSE, Mattel surged 18.80%, Accenture gained 15.78%, and Synopsys rose 12.78%. Fair Isaac Corporation advanced 11.69%, Coherent Corp gained 10.90%, and Enerflex rose 11.63%. Innodata gained 9.26%, while Guidewire Software advanced 8.94%.

On the losing side, Corteva declined 83.81% due to its corporate split, while Paramount Skydance fell 9.58%. Grindr dropped 8.17%, SELLAS Life Sciences declined 7.96%, and Repligen fell 7.80%. Viridian Therapeutics lost 7.77%, Liquidia Corporation declined 7.50%, and Caris Life Sciences dropped 7.44%.

The NYSE Composite’s modest gain reflected the mixed performance across sectors, with energy and technology stocks providing support while healthcare and basic materials weighed on the broader index. The index remains 5.4% below its 52-week high of 24,866.75 and 12.5% above its 52-week low of 20,906.44.

S&P MidCap 400 Gains 1.03% as Smaller Stocks Outperform Broader Market Today

The S&P MidCap 400 opened at 3,596.33 and closed at 3,633.16, moving 37.19 points or 1.03%, with an intraday range of 3,576.77 to 3,639.24. The S&P SmallCap 600 opened at 1,653.71 and ended at 1,665.65, gaining 10.69 points or 0.65%, after trading between 1,641.82 and 1,669.88. The two benchmarks reflected movements among mid- and small-cap shares as the retreat in Treasury yields and strong semiconductor earnings affected the wider market.

Mid-cap and small-cap stocks outperformed their larger peers, benefiting from the yield retreat and reduced pressure on borrowing costs. The S&P MidCap 400 remains 7.5% below its 52-week high of 3,928.98, while the S&P SmallCap 600 is 9.1% below its 52-week high of 1,832.20.

VIX Rises 0.31% to 16.39 as Volatility Indicator Tracks Market Uncertainty Today

The CBOE Volatility Index (VIX) changed 0.31% to 16.39, compared with its previous close of 16.34. The index measures expected volatility in the S&P 500 over the coming 30 days. Its intraday high was 17.59, while the low was 16.21. The VIX had earlier risen to a two-week high as investors remained cautious after a turbulent September, before easing as stocks recovered from morning losses.

The movement during the session coincided with the sharp intraday reversal in Treasury yields and the recovery in semiconductor shares. The VIX remains 53.6% below its 52-week high of 35.30 and 22.5% above its 52-week low of 13.38. The CBOE Nasdaq Volatility Index (VXN) and the CBOE S&P 500 3-Month Volatility Index (VIX3M) data were not available in the references for the session.

S&P 500 Sectors Show Mixed Performance as Energy Leads With 1.9% Gain

Performance across the 11 S&P 500 sectors was mixed. The Energy sector recorded the strongest move at 1.9%, supported by the surge in crude oil prices following China’s suspension of fuel exports. Marathon Petroleum and Valero Energy led the sector with gains of 6.25% and 5.38% respectively. Information Technology advanced, benefiting from strong semiconductor earnings and the retreat in Treasury yields. Industrials and Utilities also recorded gains, while Consumer Discretionary moved higher.

The Financials sector declined 0.8%, with the S&P 500 Financial Index falling to its lowest level since 12 June. Bank of America fell 1.29%, Citigroup declined 1.92%, and PNC Financial dropped 1.8%. Healthcare was among the weakest performers, with Amgen falling 3.38%, Danaher declining 4.42%, and Thermo Fisher dropping 3.34%. Basic Materials was skewed by Corteva’s 83.81% decline related to its corporate split.

The remaining sectors recorded the following moves: Information Technology higher, Communication Services lower, Consumer Discretionary higher, Consumer Staples lower, Financials down 0.8%, Health Care lower, Industrials higher, Energy up 1.9%, Utilities higher, Real Estate lower, and Materials lower. The sector movements followed the sharp reversal in Treasury yields and the surge in crude oil prices.

Magnificent Seven: Nvidia Gains 1.16% as Tech Giants Show Mixed Daily Moves

Among the Magnificent Seven, Nvidia moved 1.16%, Apple changed -0.81%, and Microsoft recorded -0.02%. Alphabet declined 1.70%, while Amazon fell 0.37%. Meta Platforms gained 0.10%, and Tesla declined 0.20%. Their daily movements contributed to the performance of major US equity benchmarks, with the mixed performance reflecting the broader market’s rotation as Treasury yields retreated from multi-decade highs. Nvidia’s gain was supported by the broader semiconductor rally, while Alphabet’s decline came despite the company unveiling its latest artificial intelligence model, Gemini 4 Argon. The Magnificent Seven’s collective performance was insufficient to drive the Nasdaq Composite significantly higher, as gains in semiconductor stocks were offset by weakness in other technology and growth shares.

Economic Data Shows Jobless Claims Fell as Manufacturing Prices Surged Higher Today

US economic data remained mixed, with employment holding firm while price pressures increased. Initial jobless claims fell to 197,000 for the week ended 26 September, below expectations of 200,000 and the previous 198,000, marking a fourth consecutive weekly decline. Continuing claims dropped 11,000 to 1.7 million. The ISM Manufacturing PMI eased to 54.5% in September from 54.6%, while the Prices Paid Index jumped 6.8 points to 77.9%, exceeding expectations.

The S&P Global Manufacturing PMI rose to 55.9 from 53.9 but missed the 57 preliminary estimate. Employers announced 43,281 job cuts, down 20% year-on-year. Through September, announced layoffs were down 39%, while excluding government workers, they fell 15%.

Federal Reserve and Treasury Yields Set The Rate Backdrop For Markets Today

The Federal Reserve was a market focus as officials weighed inflation, energy prices and interest rates. Vice Chairman Philip Jefferson said the economy faces multiple shocks, including energy prices, the AI buildout and trade-policy changes, adding that policy decisions should depend on incoming data.

Minneapolis Fed President Neel Kashkari expects rate increases may be needed into 2027, although he was unsure about timing. Lisa Cook highlighted persistent supply shocks, while Jeff Schmid said energy-driven inflation remains difficult to assess. The 2-year Treasury yield fell 10 basis points to 4.793%, while the 10-year yield declined 5.02 basis points to 5.24%. The 30-year yield fell 3.21 basis points to 5.6069%, reflecting softer near-term rate expectations.

Crude Oil Rises 4.4% as Supply Concerns Drive Commodity Market Gains Today

Brent crude traded at $102.35, changing 4.4%, while WTI crude stood at $93, moving 2.9%. Gold traded at $4,205, changing 0.5%, while silver data was not specified in the references. Copper data was not available, and natural gas moved -1.0%. The commodity moves followed China’s reported suspension of October fuel exports and the US deployment of a third aircraft carrier to the Middle East, which heightened supply concerns in already constrained energy markets.

The Trump administration also imposed fresh sanctions on Iran, targeting its rail and automotive sectors. The US Dollar Index (DXY) moved 0.6% to 102.03. EUR/USD, USD/JPY, and GBP/USD data were not specified in the references. Currency movements followed the retreat in Treasury yields and the sharp rise in oil prices. Bitcoin traded around $84,600, up from overnight lows around $83,100. The digital asset gained approximately 43% in the third quarter, its strongest quarterly performance since 2024.

The closing session was shaped by a sharp retreat in Treasury yields from multi-decade highs and a semiconductor-led rally following strong earnings from Micron Technology and Synopsys. The Dow Jones gained 20.51 points, the S&P 500 rose 14.91 points, and the Nasdaq Composite added 10.53 points. Energy stocks led sector gains with a 1.9% advance as crude oil prices surged on supply concerns. These figures provide a factual summary of the session and its key market developments.

Source

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