[Wall Street Close | September 30] Mixed results amid the strength of large technology stocks… Only Nasdaq rises

Dow fell 0.86%, S&P 500 fell 0.25%... Apple, MS, Nvidia rise

Weakness in finance, consumer goods, and healthcare... In September, the performance of each index was mixed

The New York stock market closed mixed on the 30th (local time). Although the price index rose intraday, which was lower than expected, it did not exceed the burden of long-term government bond interest rates. The Dow and S&P 500 fell, and only the Nasdaq, supported by large technology stocks, maintained its upward trend.

The Dow Jones Industrial Average ended trading at 50,906.05, down 443.87 points (0.86%) from the previous trading day. The Standard & Poor's (S&P) 500 index fell 19.30 points (0.25%) to 7651.54, and the Nasdaq Composite Index rose 63.52 points (0.24%) to 26,861.06.

On this day, the stock market started rising due to a price index that was below expectations. Concerns about further interest rate hikes eased as the personal consumption expenditures (PCE) price index in August rose 3.4% compared to the same month last year, below the expected 3.7%. However, as the burden of rising long-term government bond interest rates continued, the S&P 500 turned downward, and the Nasdaq also reduced its rise.

Even during this process, large technology stocks showed a relatively solid trend and supported Nasdaq. Apple rose 1.10%, Amazon rose 1.00%, Alphabet rose 0.93%, and Microsoft rose 0.77%. NVIDIA and Tesla also rose 0.52% and 0.56%, respectively. Meta showed a contrast by falling 1.84%.

The strength of technology stocks did not spread to the entire semiconductor industry. Intel rose 3.71% and AMD rose 0.69%, but Broadcom fell 1.10% and Micron closed flat. The Philadelphia Semiconductor Index also remained flat at 12,628.62, down 0.54 points.

The decline was noticeable in finance, consumer goods, and healthcare. JP Morgan Chase fell 1.24% and Goldman Sachs fell 1.73%, and Visa and Mastercard also fell 1.79% and 2.15%, respectively. Walmart and Procter & Gamble (P&G) fell 2.70% and 2.05%, respectively. Eli Lilly fell 2.33% and United Health fell 2.10%, showing a temperature difference with large technology stocks.

Differences between indices were also visible in the monthly performance in September. The Dow and S&P 500 fell 4.29% and 0.45%, respectively, while the Nasdaq rose 1.86%. On a quarterly basis, the S&P 500 and Nasdaq continued their upward trend for two consecutive quarters.