Update: Consumer Discretionary Helps Push US Equity Indexes Higher in Midday Trading

MT newswire2026/10/09 15:44

11:44 AM EDT, 10/09/2026 (MT Newswires) -- (Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.) US equity indexes rose, with consumer discretionary leading the sector charts in midday trading Friday. The Nasdaq Composite climbed 0.5% to 27,320.1, the S&P 500 advanced 0.5% to 7,801.2, and the Dow Jones Industrial Average marched 0.5% higher to 51,501.7. All sectors except communication services and consumer staples rose. Real estate was among the biggest gainers. In economic news, the University of Michigan's preliminary consumer sentiment index declined to 46.3 in October from 48.1 in September, versus the 47.6 expected in a Bloomberg-compiled survey. Respondents pegged one-year inflation expectations at 4.7%, up from 4.6% in the previous month, while five-year inflation expectations increased to 3.5% from 3.4%. Most Treasury yields rose around midday. The two-year jumped six basis points to 4.82%, the strongest level since about mid-2024. The 10-year rate climbed 4.3 basis points to 5.27%. Front-month US West Texas Intermediate crude oil contract edged up 0.2% to $91.70 per barrel, while global benchmark Brent climbed 0.2% to $104.45 per barrel. In company news, SpaceX (SPCX) shares rose 1.6% after the rocket and satellite company agreed to acquire a nationwide low-band spectrum portfolio from investment firm Grain Management as it seeks to establish Starlink Mobile as a major US mobile carrier. AT&T (T) shares slumped 6.8%, Verizon (VZ) dropped 5.2%, and T-Mobile US (TMUS) sank 9%. All three stocks were among the S&P 500's worst performers. Humana (HUM) shares surged 12%, among the S&P 500's top gainers, after the company affirmed its full-year 2026 guidance of at least $9 in adjusted earnings per common share.

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