Nasdaq Rises as Soft PCE Data Trims October Rate Hike Bets

Key Facts

1The Nasdaq index led stocks higher following softer-than-expected Personal Consumption Expenditures (PCE) price index data.

2Odds of an October interest rate hike decreased following the latest inflation data release.

3Markets are awaiting Micron Technology earnings results while facing headwinds from elevated Treasury yields.

The Nasdaq index led stocks higher following softer-than-expected Personal Consumption Expenditures (PCE) price index data, Reuters reported. The cooling inflation figures led to a decrease in the odds of an October interest rate hike, as noted by FX Empire, providing a bullish catalyst for technology shares despite persistent pressure from elevated Treasury yields.

Markets are now awaiting Micron Technology (MU) earnings results while navigating headwinds from 30-year Treasury yields hovering near 5.62%. MU was trading at $1071.77 on September 30, 2026, while NDAQ closed at $91.85 on September 29, 2026.