The S&P 500 slid on Wednesday, the final day of September, even after new U.S. economic data showed inflation slowed last month, with the broad-market index dropping 0.25%. The Nasdaq Composite advanced 0.24% to end at 26,861.06, as technology stocks were among the biggest gainers as traders backed away from some of the bets on another rate hike in October. Q3 ends mixed after record highs earlier in the quarter.
→ October jobs report due — critical inflation/employment data ahead of midterms could shift Fed rate-hike expectations
→ October Fed meeting risk: Treasury yields remain elevated as persistent energy-driven inflation and a resilient economy have reinforced expectations for further rate hikes, though expectations for a near-term hike eased following today's data, with markets still largely expecting another hike in December
→ Earnings season and midterm elections expected to be key catalysts for breaking current trading range and driving Q4 rally