Markets Today: PCE Data & Micron Earnings — 30 September 2026PCE data came in cooler than expected, but the U.S. stock market—specifically the S&P 500 and Nasdaq—finished mainly unchanged for the day.Micron Technology Inc. reported after market close under the ticker symbol MU:Revenue: $54.23 billion, topping analyst consensus estimates of ~$50.45 billion and rising sharply from $11.32 billion year-over-year.Earnings: Adjusted EPS came in at $33.42, beating the $31.16 estimate. GAAP net income reached $37.701 billion, or $32.87 per diluted share.Gross Margin: GAAP gross margin climbed to 86.8%, compared to 44.7% in the prior-year period.Full-Year 2026 Highlights: Annual revenue reached $133.188 billion with GAAP net income of $84.969 billion and operating cash flow of $89.675 billion. Total cash, marketable investments, and restricted cash finished the year at $73.48 billion.Q1 FY2027 Guidance: Micron projects revenue of $61.5 billion ($\pm $1.5$ billion), GAAP diluted EPS of $37.84 ($\pm $1.00$), and a gross margin of approximately 85.95%.Dividend: Declared a quarterly dividend of $0.15 per share, payable on October 29, 2026. Micron shares bouncing around in the after hours from gains to losses and share price in the after hours approx one percent at the time off writing .
Global Market OverviewGlobal financial markets faced relentless selling pressure as a historic sovereign debt rout accelerated and inflation concerns dragged down European and Asian stocks. The benchmark U.S. 10-year Treasury yield crossed 5.30%, reaching its highest level since 2002, driving a sharp surge in global borrowing costs and weighing heavily on risk assets.Federal Reserve Governor Cook warned that inflation has remained too high for too long, prompting Goldman Sachs to push its Fed rate hike forecast out to December. Overseas, the Central Bank of Colombia hiked its benchmark interest rate to 12.25%, while European Central Bank policymakers warned that persistent energy price shocks risk fueling broader inflation across the continent.Corporate headline flow was dominated by severe single-name volatility, led by Liquidia cratering 48% after a patent ruling went to United Therapeutics. Consumer names slipped, with McDonald's touching a 52-week low of $232.05 and Las Vegas Sands falling to a 52-week low of $38.06, while GameStop gained following a $10.6 million insider stock buy from Chief Executive Ryan Cohen. Traders now watch for legislative progress on U.S. energy permitting bills after November.Traders and investors look forward to initial jobless claims tomorrow and NFP (non-farm payrolls), the biggest U.S. labor market event, on Friday.