Wed 30 Sep 2026

The S&P 500 and Dow closed slightly lower on Tuesday, down 0.15% and 0.25%, while the Nasdaq 100 edged up 0.19%. All four major indexes are higher premarket, with the Russell 2000 leading at 0.86%. The structure score for the S&P 500 is 61, leaning bullish. The medium-term trend is positive and the index sits in the upper half of its five-day range, but the short-term trend is flat, so the picture is constructive rather than strong.

Attention is on rates and inflation. Investors are waiting for the Fed's preferred inflation data, and commentary is mixed: Moody's Mark Zandi warns Wall Street is too optimistic about the American consumer, while Bill Ackman suggests the Fed may have made a mistake. In company news, Nvidia remains the most covered stock, with Michael Burry issuing a fresh warning on the shares and Jacobs winning a three-year contract to deploy its data center digital twin for an Nvidia R&D facility.

On the calendar, Gross Domestic Product and Personal Income and Outlays are both released at 8:30 a.m. Earnings come premarket from Jabil, FactSet, ConAgra Brands and Cal-Maine Foods, with Micron Technology reporting after the close.