Stock Market Today: Stocks Close Lower After Roller-Coaster Session
The major market indexes were all trading sharply lower after this morning's economic data, but came off their session lows by the close.


Stocks opened sharply lower Wednesday following two straight days of red-hot gains as yields on government bonds resumed their recent climb.
The 10-year Treasury yield jumped 13.6 basis points to 3.753% after today's round of data pointed to a resilient U.S. economy. (A basis point is equivalent to 0.01%.)
The economic reports released this morning included the ADP employment report that showed the U.S. added a higher-than-expected 208,000 private-sector jobs in September. Additionally, the Institute for Supply Management's (ISM) services purchasing managers' index slipped to 56.7% in September from the August reading of 56.9%. So while activity in areas such as restaurants and hotels slowed last month, it still remained exceptionally strong.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The equity market's big moves higher on Monday and Tuesday "came on the back of multiple economic data points, all helping markets point towards a sooner-rather-than-later Fed pivot," says Stefanos Bazinas, execution strategist at the New York Stock Exchange. "Today's round of economic data, however, has reversed some of this Fed pivot optimism."
Still, despite that early selloff that saw major market indexes down between 1%-2%, all three finished well off their session lows. At the close, the Dow Jones Industrial Average was down 0.1% at 30,273, while the S&P 500 Index (-0.2% at 3,783) and the Nasdaq Composite (-0.3% at 11,148) ended with modest losses.
Other news in the stock market today:
- The small-cap Russell 2000 fell 0.7% to 1,762.
- Gold futures slipped 0.6% to settle at $1,720.80 an ounce.
- Bitcoin edged down 0.5% to $20,127.02. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.)
- Helen of Troy (HELE) jumped 3.3% after the consumer products maker, whose brands include Braun and Vicks, reported earnings. In its fiscal second quarter, HELE reported earnings of $2.27 per share on revenue of $521.4 million, beating analysts' consensus estimates.
The Pros' Favorite Oil Stocks
Energy stocks got a big boost today after OPEC+ issued its biggest supply cut since the early days of the pandemic. Specifically, the Organization of the Petroleum Exporting Countries and its allies said they will decrease production by 2 million barrels per day in an effort to buoy oil prices, which have been spiraling in recent months amid fears of slowing demand.
In reaction to the news, U.S. crude futures spiked 1.4% to $87.76 per barrel and the energy sector handily outperformed, jumping 2.1%. Today's move by OPEC marks a win for oil bulls – including Warren Buffett, whose Berkshire Hathaway (BRK.B) holding company has been steadily increasing its shares of Occidental Petroleum (OXY) in recent quarters – sparking rumors of potential buyout.
While Buffett is upbeat on Occidental, analysts are not, giving the stock a consensus Hold recommendation. But while OXY may not be one of the best oil stocks to buy now, according to Wall Street pros, these three names certainly are. Check them out.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
The 'Vinyl Rule' of Retirement: Plan for Two Sides in Your Next Act
Because “Life is what happens when you’re busy making other plans.”
-
Five Destinations for Active and Chill Travelers Alike
Whether you reach for a paddleboard or a lounge chair, find your groove in a location that offers something for both kinds of travelers.
-
Stocks Slip as Job Growth Stalls: Stock Market Today
The August jobs report came in much weaker than expected, while the unemployment rate ticked higher.
-
S&P 500 Hits New High on Jobs Friday Eve: Stock Market Today
The S&P 500 hit a new all-time closing high and most of the stocks in the Dow Jones Industrial Average were up the day before a critical jobs report.
-
Big Tech Names Rise Above Broad Weakness: Stock Market Today
Some familiar names enjoyed solid rallies on the resolution of outstanding questions, but macro uncertainty hangs over the broader market.
-
Stocks Slide to Start September: Stock Market Today
Seasonal trends suggest tough times for the stock market as we round into the end of the third quarter.
-
If You'd Put $1,000 Into Sherwin-Williams Stock 20 Years Ago, Here's What You'd Have Today
Sherwin-Williams stock has clobbered the broader market by a wide margin for a long time.
-
Stocks End Strong Month on a Down Note: Stock Market Today
There was likely a bit of profit-taking ahead of a historically weak September.
-
If You'd Put $1,000 Into UnitedHealth Group Stock 20 Years Ago, Here's What You'd Have Today
UNH stock was a massive market beater for ages — until it wasn't.
-
S&P 500 Tops 6,500 Even as Nvidia Slips: Stock Market Today
The world's most valuable company closed lower after earnings, but the S&P 500 managed to notch a new record high.