Finance

U.S. Treasury yields remained elevated, with the 10-year note continuing its upward march past the 5.2% threshold. Borrowing costs surged to fresh multi-year highs as fixed-income markets adjusted to projections of persistent interest rate pressures and sticky underlying economic growth.

The August Personal Consumption Expenditures price index revealed that headline monthly inflation grew by 0.3%, coming in below economists' projections. However, because of recent methodology changes to government calculations, analysts noted that core inflation remains high at 3% annually, which is still well above the Federal Reserve's primary target.

Technology sector optimism provided a critical cushion for the broader market as equity index futures pushed upward heading into the new quarter. The rally was heavily anchored by positive guidance from Micron Technology, which ignited widespread gains across domestic and international semiconductor equities.