US Stock Market Today: S&P 500 Futures Slip As Hot Growth Keeps Rate Fears High
The Morning Bull – US Market Morning Update Friday, Sep, 25 2026
US stock futures are trending downward this morning, with S&P 500 contracts shedding approximately 0.6% and Nasdaq-linked futures retreating by slightly more than 1%. This decline persists despite the release of highly positive US economic data. The Manufacturing PMI rose to 57.0, while the Services PMI reached 58.7 for September 2026. Although these figures point to vigorous activity, they also indicate that firms are increasing prices and expanding payrolls, factors that may keep borrowing costs elevated for an extended period. Simultaneously, 30-year mortgage rates have climbed to 7.12%, dampening demand for home loans. This environment places interest-rate-sensitive sectors, such as real estate and smaller, debt-burdened companies, under intense scrutiny as investors evaluate whether robust growth can continue to sustain large tech and service-oriented sectors without further compressing valuations.
With the economy expanding rapidly and interest rates weighing on vulnerable assets, many investors are shifting their focus.
Everpure (P) jumped 11.15% after multiple analysts raised their price targets following a positive outlook provided during an analyst day event.
Nebius Group (NBIS) gained 7.44% after BNP Paribas upgraded the stock to Outperform and increased its price target.
Illumina (ILMN) rose 7.25%.
First Solar (FSLR) fell 10.32% after GLJ Research lowered its price target to US$250.
TD SYNNEX (SNX) declined 9.87% despite reporting stronger earnings and confirming its dividend payout.
Arm Holdings (ARM) dropped 7.88% as investors renewed their focus on SoftBank’s significant margin loan secured by Arm shares.
