Stock Market Today, October 1, 2026: S&P 500 and Nasdaq Rise as AI Strength Offsets Higher-Rate Concerns -( $ACN $AMZN $AVGO $DOCS $EPRX $LPL $MODD $MU $NKE $NVDA $SER )

U.S. stocks began October with a narrowly positive, selective advance as many weighed a retreat in Treasury yields against persistent inflation, energy-price, and labor-market questions. The S&P 500 (^GSPC) rose 0.19%, the Nasdaq Composite (^IXIC) gained 0.04%, and the Dow Jones Industrial Average (^DJI) finished nearly unchanged, while AI-linked technology and select earnings movers remained central to the session.

Market Close: October 1, 2026

Market Summary

Thursday’s market action reflected a familiar 2026 pattern: many continued to favor secular growth and artificial-intelligence infrastructure themes, but gains were restrained by elevated Treasury yields and fresh evidence that inflation pressures may remain sticky. The S&P 500 (^GSPC) added 14.91 points, or 0.19%, to finish at 7,666.45. The Dow Jones Industrial Average (^DJI) climbed 20.51 points, or 0.04%, to 50,926.56. The Nasdaq Composite (^IXIC) advanced 10.53 points, or 0.04%, to 26,871.60, while the small-cap Russell 2000 (^RUT) outperformed with a 0.35% gain to 2,806.63. The modest advance came after the 10-year Treasury yield fell six basis points to 5.24%. That decline offered some relief to rate-sensitive equity valuations after yields had recently moved to their highest levels in roughly two decades. Still, the yield level remains a constraint on broader market participation, particularly for small-cap, housing, consumer-discretionary, and financial companies. The VIX rose slightly to 16.39, signaling that equity investors remain cautious even as major indexes hold near historically high levels. Gold rose 0.50% to $4,207.80, Bitcoin (BTC-USD) gained 1.03% to $84,588.48, and crude oil jumped 2.75% to $92.91 per barrel.

Macro Commentary: Bonds, Inflation, Oil, and Jobs

Treasury yields ease, but the macro backdrop remains restrictive

The 10-year Treasury yield’s decline to 5.24% helped support equities Thursday, especially technology stocks with long-duration earnings profiles. However, the move lower does not erase the broader issue facing investors: borrowing costs are still high, federal financing needs remain significant, and inflation-sensitive data continues to complicate the Federal Reserve’s policy outlook. The bond market has become a decisive driver of equity-market direction. When yields move sharply higher, valuations compress, particularly among technology, semiconductor, software, and high-growth companies. A pullback in yields can therefore quickly improve sentiment, but investors are still debating whether the latest decline represents a durable shift or only a temporary reprieve.

Manufacturing data points to growth and price pressure

Thursday’s manufacturing data reinforced that the U.S. economy is still expanding, though the inflation implications remain uncomfortable. S&P Global’s final September manufacturing PMI registered 55.9, marking the strongest reading since May 2022, while the ISM manufacturing index came in at 54.5. Both readings point to continued industrial expansion. The inflation concern was the prices-paid component of the ISM report, which rose sharply to 77.9. That result suggests businesses are still experiencing meaningful cost pressure across inputs and supply chains. For markets, this is an important tension: strong manufacturing activity supports the earnings outlook, but renewed price pressure can keep the Federal Reserve cautious and Treasury yields elevated. Many will be watching whether companies absorb those costs through margin pressure or pass them on to consumers through higher prices.

Jobs report becomes the next major catalyst

Friday’s September employment report is expected to provide the next major market test. Economists surveyed by Bloomberg expect nonfarm payrolls to rise by approximately 85,000, down from August’s stronger 162,000 increase, while the unemployment rate is expected to remain at 4.1%. Weekly jobless claims fell to 197,000, pointing to a labor market that is not showing broad signs of layoffs. At the same time, job-cut announcements remain concentrated in technology and other cost-sensitive sectors. A payrolls number materially above expectations could revive concerns that economic resilience will keep inflation and yields elevated. A softer report could lower rate pressure, but many would need to decide whether weakness reflects a healthy cooling in labor demand or a more concerning slowdown in economic activity.

Oil spike adds another inflation variable

WTI crude oil surged 2.75% to $92.91 per barrel, and gold rose to $4,207.80. The increase in energy prices followed developments involving Chinese fuel exports and continuing uncertainty around global energy supply. Reuters reported that China’s suspension of fuel-product exports could tighten already-sensitive refined-product markets, even as Gulf export flows recover. Higher oil prices matter beyond the energy sector. Sustained moves in gasoline, diesel, shipping, and industrial fuel costs can lift inflation expectations and pressure consumer spending. That can also complicate the Federal Reserve’s path, especially if inflation data and oil prices begin moving higher at the same time.

AI and Semiconductor Stocks Remain in Focus

Micron Technology rises on enduring memory shortage

Micron Technology (MU) rose 3.03% to close at $1,097.39 after strong fiscal fourth-quarter results and bullish commentary on the supply outlook for memory chips. The company reported fiscal Q4 revenue of $54.23 billion and earnings per share of $33.42, exceeding Wall Street expectations. Micron’s management said the memory market remains supply-constrained, with no immediate end in sight for the shortage. That is a significant development for investors because high-bandwidth memory, DRAM, and other advanced memory products have become essential components of AI data centers and accelerated-computing systems. The company expects the demand-and-supply imbalance to extend through fiscal 2027 and potentially into fiscal 2028. Micron has also entered into 26 long-term supply agreements that cover more than 35% of projected revenue through 2030. For the broader market, Micron’s outlook reinforces the central AI-infrastructure thesis: cloud providers and model developers are not only buying graphics processors, but also memory, networking equipment, storage, custom silicon, power systems, and data-center capacity.

Broadcom and Anthropic spotlight AI financing risk

Broadcom (AVGO) declined 2.15% to $343.64 after Reuters reported that the company plans to lend Anthropic up to $42 billion for chip leasing and AI infrastructure investment. The transaction illustrates the increasingly interconnected nature of AI financing. Anthropic, a private AI company, has existing relationships with Amazon.com (AMZN), Microsoft (MSFT), Alphabet (GOOGL), and other major technology groups that provide capital, cloud capacity, computing power, or access to chips. Broadcom’s expected role underscores the growing relevance of custom AI chips, networking hardware, and purpose-built infrastructure. It also raises questions around “circular” AI investment structures, where technology providers help finance customers that, in turn, spend heavily on those providers’ products and services. Many will likely continue assessing whether these arrangements accelerate the monetization of AI workloads or increase systemic risk across a tightly linked group of cloud, chip, data-center, and AI-model companies.

Nike Earnings: Sales Miss Overshadows Profit Beat

Nike (NKE) reported mixed fiscal first-quarter 2027 results after Thursday’s closing bell. The company generated revenue of $11.21 billion, down 4% year over year and below analyst expectations of approximately $11.33 billion. Nike earned $0.48 per share, beating consensus estimates, and gross margin improved by 60 basis points to 42.8%. However, investors focused on continued revenue pressure, particularly in Greater China, where sales declined 26%. Converse revenue fell 28%, while North American revenue rose 2%. Nike shares closed down 0.71% at $35.15 and dropped 3.78% after hours to $33.82. The market reacted negatively to the company’s outlook, which calls for a high-single-digit percentage revenue decline for fiscal 2027 and adjusted EPS between $1.15 and $1.35. The results show that Nike’s turnaround is not yet fully reflected in its top line. Margin improvement and stronger performance in select sports categories are encouraging, but investors remain focused on consumer demand, China recovery prospects, wholesale-channel execution, and the brand’s ability to regain market share in running, performance apparel, and lifestyle footwear.

Other Notable Movers

• Accenture (ACN) surged 15.78% to $212.30 after reporting quarterly earnings, making it one of the session’s major large-cap gainers.
• Corteva (CTVA) showed an 83.81% decline to $12.57 in quote data, reflecting the company’s separation-related adjustment rather than a typical single-session market loss,
• Citigroup (C) fell 1.92% to $127.00, Bank of America (BAC) declined 1.29% to $53.73, and PNC Financial Services (PNC) slipped 0.68% to $220.75 as the banking group remained sensitive to the interest-rate backdrop.
• Bitcoin (BTC-USD) rose above $84,500, reflecting ongoing appetite for alternative assets despite elevated volatility across bonds, commodities, and equities.
• Gold’s move above $4,200 and crude oil’s rise toward $93 suggest investors are continuing to price in geopolitical, inflation, and currency-market uncertainty.

What Many Are Watching Next

• September jobs report: The release at 8:30 a.m. ET Friday could reshape rate expectations, Treasury yields, and sentiment across financials, technology, housing, and small-cap equities.
• Treasury yields: The 10-year yield at 5.24% remains a key market threshold. A move sustainably lower could support growth stocks; a reversal above recent highs could renew pressure on equity valuations.
• Oil prices: WTI crude near $93 per barrel is becoming a meaningful inflation variable. Sustained gains could affect consumer spending, transportation costs, corporate margins, and Fed policy expectations.
• AI capital spending: Micron (MU), Broadcom (AVGO), Nvidia (NVDA), Advanced Micro Devices (AMD), Amazon.com (AMZN), Microsoft (MSFT), and Alphabet (GOOGL) remain important indicators of whether AI infrastructure spending continues to accelerate.
• Earnings season: Nike’s results provide an early reminder that margin gains may not be enough when revenue disappoints. The upcoming earnings cycle will test whether higher rates, rising energy costs, and persistent inflation are beginning to affect demand.

VP Watchlist Updates

Amwell® (NYSE: AMWL)

Amwell® (NYSE: AMWL), a leading provider of a comprehensive SaaS-based software platform for technology-enabled healthcare, closed at $12.82.

AMWL announced (Sept 8) announced the Department of Veterans Affairs (VA) has declared its intent for the Company to deploy its virtual health platform within the VA enterprise and help power the modernization of the VA’s digital health infrastructure. The VA anticipates the Amwell platform will support a broad range of clinical services, enhance care coordination, and improve access for our Veterans across the VA enterprise. The Letter of Intent follows a comprehensive evaluation process by the VA, in which it determined that Amwell’s virtual health platform aligns with the Department’s strategic objectives to expand access to high-quality, secure, and reliable virtual care services for Veterans nationwide through the VA’s current electronic health record modernization efforts. Specifically, the capabilities Amwell demonstrated in scalable video consultations, interoperability, cybersecurity compliance, and support for integrated care delivery were significant factors in this determination.

Amwell® has received Frost & Sullivan’s 2026 United States Technology Innovation Leadership Recognition in the Technology-Enabled Care Platforms Industry. The recognition validates Amwell’s ability to address healthcare fragmentation through a unified platform that orchestrates consumer experiences, clinician workflows, care programs, and partner solutions.

The Company also reiterated recently its objective to achieve positive cash flow from operations in the fourth quarter of 2026.

Serina Therapeutics (NYSE: SER)

Serina Theraeuptics (NYSE: SER, $1.95) is a clinical-stage biotechnology company developing a pipeline of wholly owned drug product candidates to treat neurological diseases and other indications. Serina’s POZ PlatformTM provides the potential to improve the integrated efficacy and safety profile of multiple modalities including small molecules, RNA-based therapeutics and antibody-based drug conjugates (ADCs). Serina is headquartered in Huntsville, Alabama on the campus of the HudsonAlpha Institute of Biotechnology.

On Thursday, September 24, 2026, Serina CEO Steve Ledger discussed discuss Serina’s programs’ progress during Tribe Public’s “A New Approach to Advanced Parkinson’s Disease: Serina Discusses SER-252’s Clinical Progress”webinar, followed by a live Q&A. You may view it below.

SER announced (Sept. 9) that the independent Safety Monitoring Committee (SMC) has completed its blinded review of Cohort 1 of the ongoing Phase 1b registrational study of SER-252 in patients with advanced Parkinson’s disease and recommended that the study advance to Cohort 2. Cohort 1 evaluated the lowest dose level in the single-ascending-dose portion of the study. In addition to supporting continued dose escalation, blinded Cohort 1 observations showed a pharmacokinetic profile consistent with the sustained apomorphine exposure SER-252 is designed to provide and included sustained periods of improvement in motor function in individual patients on exploratory clinical measures.

Hudson Pacific Properties (NYSE: HPP)

Hudson Pacific Properties (NYSE: HPP, $11.42) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific’s unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. HPP turned in a quarter ( Aug. 5) that suggests the office malaise is not over, but it may finally be meeting resistance. Revenue came in above Wall Street’s expectations, occupancy moved higher for a fourth straight quarter, and management raised full-year guidance, a combination that does not make for a triumphant victory lap, but it does make for a more credible turnaround narrative. Learn more.

Eupraxia Pharmaceuticals Inc. (EPRX)

Eupraxia Pharmaceuticals Inc. (EPRX, $7.83), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology designed to optimize local, controlled drug delivery for applications with significant unmet need, has added a potentially important chapter to its eosinophilic esophagitis, or EoE, story: a single administration of its investigational localized therapy, EP-104GI, continued to show clinical-remission signals at 52 weeks in the highest-dose cohorts of the ongoing RESOLVE study. For a chronic disease in which swallowing can become a calculated exercise rather than an automatic human function, durability is more than a tidy line on a clinical slide. It is central to the value proposition. The latest data suggest Eupraxia’s localized, extended-release approach may be building toward a differentiated position in a market already led by a formidable incumbent: Sanofi S.A. (NASDAQ: SNY) and its biologic franchise, Dupixent. The clinical data remain early, open-label, and small in patient count, biotech investors should keep both feet on the ground, even when the data seem to float, but the one-year observations give EPRX a meaningful argument for continued investor attention ahead of interim randomized Phase 2b results expected in December 2026.

Modular Medical, Inc. (NASDAQ: MODD)

Modular Medical, Inc. (NASDAQ: MODD, $2.08, +4%), a commercial-stage medical device company preparing for the commercial launch of its next-generation Pivot™ tubeless patch pump, announced (September 4) that it has secured a contract with a national U.S. pharmacy benefit manager (PBM) in the United States. Pursuant to the contract, the Company’s Pivot insulin delivery system is now available through the national PBM. The Company believes the engagement with this national PBM represents a significant step forward in broadening patient access to the Company’s Pivot tubeless patch pump and will further validate the Pivot pump as an accessible therapeutic option for people living with diabetes.

MODD announced (September 3) that the U.S. Food & Drug Administration (FDA) has cleared a set of software enhancements to its Pivot insulin delivery system, further expanding the system’s functionality and providing users with greater flexibility and customization options in bolus dosing, an enhanced user-interface (UI), and other software upgrades.

MODD CEO, Jeb Besser, co-hosted a Tribe Public’s CEO Presentation and Q&A Webinar Event titled “The Road To Revenue: Modular Medical’s Strategy For Launching Pivot,” that was held Friday, September 4, 2026 (8:30am PT / 11:30 am ET). You may watch the event video below now if you missed it below now.

MODD announced (Aug. 3) plans to initiate the first phase of commercialization of its Pivot tubeless patch pump across five strategically selected U.S. markets beginning in October 2026. The initial rollout will include Atlanta, Cincinnati/Lexington, Dallas, Houston, and Philadelphia, representing a foundational step in the Company’s capital efficient commercialization strategy with its mission to expand access to simplified insulin delivery solutions for all people living with diabetes.

MODD recently (July 22) announced the formation of its Pivot Innovation Council, a cross-functional group of leading clinicians and healthcare experts established to help guide the company’s clinical and commercial strategy. Diabetes care expert Robert Gabbay, MD, PhD, FACP was appointed as chair of the Pivot Innovation Council. The council will provide insights on target patient populations, support optimization of clinical workflows, inform evidence-generation initiatives, and help refine the Pivot product roadmap and go-to-market approach, as the Company continues to scale its differentiated offering.

Modular released findings (July 15) from an independent market research study demonstrating positive receptivity to its FDA-cleared Pivot™ tubeless patch pump due to its differentiated design, streamlined user experience, and potential for reimbursement through the pharmacy channel.

LG Display Co., Ltd. (LPL)

LG Display Co., Ltd. (NYSE: LPL, $3.03, +2.71%) has spent the last few years doing something many hardware companies talk about but few execute well: turning a technology pivot into a full‑blown business transformation that everyday investors can actually follow. Instead of chasing commoditized LCD TV panels in a race to the bottom, LPL is leaning into Gaming OLED, CES‑worthy innovation, and premium automotive displays – and the press trail tells a surprisingly investor‑friendly story.

Yatsen Group (NYSE: YSG)

Yatsen Group (NYSE: YSG, $2.73), a leading China-based beauty group, delivered the sort of quarter that can make a turnaround investor sit up straighter: reported revenue grew, its strategically important skincare operation accelerated sharply, and the company is increasingly built around clinical and premium brands rather than a pure color-cosmetics play. The results are not yet a victory lap, losses widened and third-quarter guidance is cautious, but YSG’s transformation is beginning to look less like a cosmetic touch-up and more like a genuine renovation.

YSG announced (July 8) a landmark collaboration to bring its flagship brand, Perfect Diary, to Sephora in China. This partnership integrates Yatsen’s rigorous scientific infrastructure with the world’s leading prestige beauty retailer, marking a significant milestone in Yatsen’s continuing evolution into a global beauty technology powerhouse.

Doximity, Inc. (NYSE:DOCS)

Doximity (NYSE: DOCS, $28.50, +.56) is the leading digital platform for U.S. medical professionals. The company’s network members include more than 85% of U.S. physicians across all specialties and practice areas. Doximity provides its verified clinical membership with digital tools built for medicine, enabling them to collaborate with colleagues, stay current on medical news and research, manage their careers and on-call schedules, streamline documentation and administrative paperwork, and conduct virtual patient visits.

Doximity, Inc. (NYSE: DOCS) announced (Aug. 6) results of its fiscal 2027 first quarter ended June 30, 2026. Jeff Tangney, co-founder and CEO of Doximity, “We’re proud that our clinical AI assistant, Doximity Ask, was the top-performing U.S.-based model in the NOHARM benchmark while we delivered another quarter of record engagement. In Q1 we had accelerated revenue growth along with workflow active prescriber growth of more than 30% year-over-year and AI Search query growth of over 25% quarter-over-quarter.”

Fiscal 2027 First Quarter Financial Highlights

All comparisons, unless otherwise noted, are to the three months ended June 30, 2025.

• Revenue: Revenue of $156.6 million, versus $145.9 million, an increase of 7% year-over-year.
• Net income and non-GAAP net income: Net income of $24.3 million, versus $53.3 million, representing a margin of 15.5%, versus 36.5%. Non-GAAP net income of $55.0 million, versus $71.9 million, representing a margin of 35.1%, versus 49.2%.
• Adjusted EBITDA: Adjusted EBITDA of $74.8 million, versus $79.8 million, a decrease of 6% year-over-year, representing adjusted EBITDA margins of 47.7%, versus 54.7%.
• Diluted net income per share and non-GAAP diluted net income per share: Diluted net income per share was $0.13, versus $0.27, while non-GAAP diluted net income per share was $0.29, versus $0.36.
• Operating cash flow and free cash flow: Operating cash flow of $42.0 million, versus $62.1 million, a decrease of 32% year-over-year, and free cash flow of $39.6 million, versus $60.1 million, a decrease of 34% year-over-year.

Financial Outlook

Doximity is providing guidance for its fiscal second quarter ending September 30, 2026 as follows:

• Revenue between $170 million and $171 million.
• Adjusted EBITDA between $80.5 million and $81.5 million.

Doximity is updating guidance for its fiscal year ending March 31, 2027 as follows:

• Revenue between $671 million and $681 million.
• Adjusted EBITDA between $309 million and $329 million.

Sable Offshore Corp. (SOC)

Sable Offshore Corp. (NYSE: SOC, $3.29) has moved from the awkward “pre-revenue restoration project” phase into something much more recognizable to Wall Street: a company selling meaningful volumes of oil, generating operating cash flow, and building momentum into a potentially larger 2027 earnings base. The second-quarter report on Monday was not a polished victory lap—midstream bottlenecks and one-time costs made sure of that, but it offered something potentially more valuable: proof that the Santa Ynez Unit restart is translating into barrels, revenue, and operational traction. Learn more.

Nvidia (NVDA, $230.86, +1.09%)

NVIDIA Corp. (NASDAQ: NVDA) seemingly has given many a two-part bullish signal: a record-sized $150 billion increase to its share-repurchase authorization and a new AI-agent safety platform aimed at making autonomous software more secure for enterprise deployment. The combination suggests a company using extraordinary financial strength not merely to reward shareholders, but to expand its influence from AI computing into the governance, security and operating layer of the AI economy. The timing is notable. Markets are beginning the week with a cautiously constructive tone, even as investors brace for jobs, inflation and manufacturing data that could reset the outlook for interest rates. In that environment, NVIDIA is making a familiar but potent argument: its AI franchise is generating enough cash to finance innovation, deepen its ecosystem and return meaningful capital to shareholders, all at once. That is not an everyday corporate trick. It is closer to juggling bowling balls while also building the bowling alley.

The Sources

1. Yahoo Finance: Stock market today: Dow, S&P 500, Nasdaq fluctuate as Treasury yields retreat, AI trade regains momentum
2. Yahoo Finance: Broadcom to lend Anthropic up to $42 billion to lease chips, in latest circular investing deal
3. Yahoo Finance: Micron CFO: No ‘line of sight’ for when memory shortage will end
4. Yahoo Finance: September’s jobs report is expected to show a labor market that’s holding steady
5. Yahoo Finance / Reuters: Oil prices rise $3 as China suspends fuel exports
6. CNBC: Nike is set to report earnings after the bell. Here’s what to expec
7. Yahoo Finance: Nike stock sinks as revenue misses estimates
8. Investing.com: Nike falls as revenue miss overshadows earnings beat
9. Bolsamanía: Nike reduce ingresos y beneficios en el primer trimestre de su año fiscal
10. Nike, Inc. Newsroom: NIKE, Inc. Reports Fiscal 2027 First Quarter Results
11. Business Wire: NIKE, Inc. Reports Fiscal 2027 First Quarter Results
12. Saxo Bank: Asia Market Quick Take – 01 October, 2026