Stock market today: Live updates

Apple shares are down by about 1.75% in Wednesday trading as of 2:15 p.m. ET following the announcement of their latest product launch, which featured the iPhone Duo, the company’s first foldable phone.

The move was consistent with skepticism from investors and analysts who noted that Apple shares have sunk or held steady more often than they have surged in the wake of product launches in recent years.

—Tobias Burns

Lithium Americas‘ shares are up more than 4% after JPMorgan upgraded the startup miner to overweight.

JPMorgan expects higher long-term earnings potential from Lithium Americas after the bank has raised its lithium price assumptions. It has established a price target of $6 per share for the company, implying 100% upside from Monday’s close.

— Spencer Kimball

StoneX initiated coverage of Robinhood with a buy rating. Analyst Mark Palmer cited prediction markets as a driver for a potential upside. In a joint venture, Robinhood and Susquehanna International Group launched Rothera, a CFTC-regulated prediction markets platform, in June. 

“Prediction market event contracts went from a rounding error for HOOD to its third-largest transaction revenue line in five quarters –from $3m in 1Q25 to $156m in 2Q26 on record volumes of 13.6bn contracts – and their contribution was larger than either equities or crypto in the quarter.,” he added, noting that That the $156 million generated came from less than 2 million of the total 28.4 million funded customers. 

Ahead of Robinhood’s third quarter earnings in November, Palmer expects the NFL and NCAA football seasons to drive Rothera’s prediction market volume. 

Palmer gave Robinhood a $170 price target, implying a roughly 44.9% upside from Tuesday’s close. He also cited the company’s revenue growth for the second quarter, increase in retirement assets, along with higher Gold subscribers, as strong performance indicators for the trading platform.

— Ananya Chetia

The equal-weight S&P 500 excluding artificial intelligence just suffered its worst day in two months, and is in its worst drawdown since May — an ominous development for the broader market, according to BTIG.

“We continue to think a correlation one downside event is brewing,” the firm’s Jonathan Krinsky wrote. “AI was the standout again today, and while that trade has had a nice three day bounce, we are mindful that in 2000 the SOX crossed back and forth its 50 DMA ten different times before ultimately breaking down for good six months after the peak.”

“Bottoms are events, tops are processes,” Krinsky added.

— Sarah Min

The market is facing an unfavorable pairing of rising interest rate concerns and spiking oil prices on Wednesday, according to JJ Kinahan, senior vice president at Cboe Global Markets.

“Fears of rising interest rates coupled with escalating crude oil prices is never a great combination for the stock market,” Kinahan said. “We’re seeing that in today’s early trading as investors move into defensive mode.”

— Alex Harring

The Treasury Department on Wednesday said it will buy back $6 billion of government debt in an operation aimed at keeping bond markets functioning.

The much-anticipated announcement triples the normal buyback operation and follows an announcement Aug. 19 from Treasury Secretary Scott Bessent that the department would at least double the normal amount for already-issued securities.

Read the full story here.

— Jeff Cox

“We’ve gotten more concerned about a pullback in the near term,” RBC Capital Markets head of U.S. equity strategy Lori Calvasina wrote about the stock market late Tuesday.

“It’s fair to say that risks of a tier 1/garden variety pullback of 5%-10% have grown,” said Calvasina, who’s been at RBC for nine years after earlier stints at Credit Suisse and Citigroup. “First, the U.S. equity market is in the middle of a seasonally difficult stretch,” she said, noting that the S&P 500 has fallen in September in five of the past 10 years.

“Second, the U.S. midterm elections are coming up,” and stocks were volatile in the second half of the past two midterm cycles, in 2022 and 2018. At the same time, a voter backlash to artificial intelligence “has emerged as a campaign issue in some races” in 2026 and expectations of a possible Democratic sweep of both chambers of Congress have picked up on prediction markets, she wrote.

“Third, the lack of a resolution in the Iran war remains a headwind for stocks,” knocking consumer confidence and sentiment, the University of Virginia graduate wrote. “Fourth, investor angst over the path of inflation, the Fed and interest rates broadly are stubbornly sticking around” and, possibly as a result, small cap stocks have underperformed large caps since late June and Wall Street may need to “pull down bottom-up consensus 2027 EPS forecasts,” Calvasina wrote.

— Scott Schnipper

Leerink Partners’ Daniel Clark said he will initiate coverage of Bausch + Lomb on Wednesday.

Clark gave the eye products company an outperform rating with a $24 price target, implying a roughly 35.4% upside from Tuesday’s close. 

“We think the company has multiple shots on goal across dry eye, contact lenses, and premium IOLs,” Clark wrote. 

— Ananya Chetia

The three major averages began Wednesday’s session in the red.

The Dow Jones Industrial Average fell 300 points, or 0.6%, shortly after the opening bell. The S&P 500 declined 0.3%, while the Nasdaq Composite dropped 0.5%.

— Sean Conlon

Last week recorded the sixth-biggest equity inflows in weekly history since 2008, according to Bank of America. 

Inflows were led by institutional and hedge fund clients, which were net buyers for a second straight week, while private clients were net sellers for the sixth consecutive week, said Bank of America’s analyst, Jill Carey Hall. 

Professional investors remain confident near the top of the market, despite warnings of the weak post-summer seasonal patterns.

Hall notes that clients bought stocks in eight of the 11 sectors, led by tech. Industrials was one of the most crowded/expensive sectors, with a fifth straight week of outflows. 

Investors also bought ETFs across major styles value, growth and blend strategies, marking the first inflows into growth ETFs in five weeks.

— Deena Zaidi

Check out the companies making the biggest moves premarket:

• Mission Produce — Shares of the avocado producer popped 7.5%. Mission Produce beat the expectations of every analyst polled by FactSet for both earnings per share, excluding items, and revenue in its fiscal third quarter.
• Apple — Shares were slightly down as traders awaited an event in which the company is expected to announce new iPhones, including a foldable one.
• Signet Jewelers — The jeweler popped 17% on the back of better-than-expected earnings for the second quarter. Signet earned an adjusted $2.19 per share, beating a FactSet estimate of $1.74 per share. The company also increased its full-year earnings guidance.

Read the full list here.

— Ananya Chetia

Shares of Casey’s General Stores fell more than 10% after it reported earnings after the bell on Tuesday. 

The company delivered an earnings and revenue beat in its fiscal first-quarter financial report, but same-store sales increased slower compared to a year ago. Sales of prepared food and dispensed beverage, grocer and general merchandise and fuel gallons missed estimates too, according to FactSet. 

Additionally, Casey’s management maintained its fiscal year 2027 outlook. Shares of the company were up more than 30% in 2026 as of Tuesday’s close. 

The Federal Reserve’s interest rate decision next week could hinge on just a few one-hundredths of a percentage point and ultimately on inflation data officials won’t see until after they vote.

As markets vacillate between which way they think policymakers will lean, all eyes will turn to releases on August producer and consumer prices — Thursday and Friday respectively.

Should the data come in hot, that would argue for a rate hike. Conversely, if inflation, at least on a monthly basis, appears to be cooling, Federal Open Market Committee voters may be content to hold, judging by statements in recent days from key officials.

The difference between either posture is likely to be minuscule, with Chairman Kevin Warsh left to take a side and persuade his fellow officials. Read more.

— Jeff Cox

Shares in Aberdeen rose almost 2.3% after the U.K. wealth and investment management giant on Wednesday named Torbjörn Magnusson as its next chairman.

Magnusson, the former CEO of Nordic financial services firm Sampo Oyj, replaces former chair Douglas Flint, who stood down in April. Jonathan Asquith has been at the helm on an interim basis.

During his time at Sampo, Magnusson oversaw a series of major corporate actions, including the group’s exit from Nordea.

In a note, Deutsche Bank analysts highlighted Magnusson’s “notable” background in capital allocation, acquisitions, disposals and corporate simplification.

“We view the appointment as potentially supportive of our long-standing view that value remains to be unlocked within Aberdeen’s sum-of-the-parts.”

— Hugh Leask

Shares of Europe’s biggest retailer Inditex, owner of brands including Zara and Pull&Bear, were 4.2% lower after half year results showed higher costs had weight on profit margins.

Gross profit rose 8.3% year-on-year to 11.6 billion euros ($15.7 billion) in the first half. However, gross profit margin was below analyst estimates, according to LSEG data.

— Jenni Reid

Shares in Danish offshore wind power multinational Ørsted fell 1.9% in morning trade after Andel Holdings said it will sell about 3 billion Danish kroner ($467.1 million) worth of its stake in the company.

Andel — Denmark’s largest energy and electricity infrastructure group — will remain Ørsted’s third biggest shareholder, following the sale, which will reduce its take from 5% to about 3.3%.

The move comes a year after Andel invested a similar amount in Ørsted’s 60 billion Danish kroner rights issue.

Japan’s Nikkei 225 closed 0.19% lower at 65,142.78, while South Korea’s Kospi rose 1.40% to 7,051.64.

Australia’s benchmark S&P/ASX 200 fell 0.11% to 8,911.40.

Hong Kong’s Hang Seng index was down 0.26% in the last hour of trade on Wednesday, while mainland China’s CSI 300 closed 0.30% higher at 4,572.60.

— Justina Lee

Oil prices hit $100 a barrel on Wednesday, after tensions between the U.S. and Iran fueled concerns over further disruptions to Middle East energy supplies.

Futures for Brent crude, the international benchmark, advanced 2.13% to trade at $100.02 a barrel by 3:35 a.m. ET. It was last at that level in July.

The Stoxx 600 opened the session 0.49% lower, as Europe’s regional sectors and main bourses started Wednesday mostly in negative territory.

Energy stocks led early gains, rising 0.85% as oil prices edged towards $100 a barrel. On the downside, retail stocks shed 1.52%, travel and leisure names fell 1.18%, and banks dipped 0.96%.

Major continental bourses were all in the red shortly after 8:00 a.m. in London (3:00 a.m. E.T.)

The U.K.’s FTSE 100 fell 0.23%, Germany’s DAX dipped 0.42%, France’s CAC 40 lost 0.58%, and the Italian FTSE MIB shed 0.95%.

Stoxx 50 futures moved lower ahead of Wednesday’s trading session, sliding 0.48%, with the continent’s major bourses all seen lower ahead of the market open.

The U.K.’s FTSE 100 was set to start the day some 0.43% lower, with Germany’s DAX retreating 0.47%, the French CAC 40 falling 0.5%, and the Italian FTSE MIB down 0.53%.

— Hugh Leask

Oil prices rose Wednesday as escalating tensions between the U.S. and Iran fuel concerns over further disruptions to Middle East energy supplies.

U.S. benchmark West Texas Intermediate futures for October delivery jumped 1.75% to $94.66 a barrel.  Futures for Brent crude, the international benchmark, added 1.55% to $99.44 a barrel.

The U.S. military destroyed five Iranian crude tankers Tuesday in retaliation for attempted attacks on an American warship. The U.S. warship successfully evaded Iranian attack and no American personnel were harmed, Centcom said in a statement.

— Lee Ying Shan

China’s consumer and wholesale inflation rebounded in August on the back of higher global commodity costs and surging high-tech demand.

The producer price index climbed 3.8%, according to data released by the National Bureau of Statistics on Wednesday, exceeding economists’ forecast for a 3.6% gain and outpacing July’s 3.5% growth.

Much of the anticipated pickup reflects a favorable base-effect comparison and higher commodity costs, economists said, rather than a genuine strengthening in household demand, which has stayed soft as effects from Beijing’s trade-in subsidies and other consumption-boosting measures fade.

— Anniek Bao

Hong Kong’s Hang Seng index fell 0.46% and mainland China’s CSI 300 gained 0.43%, following the release of China’s latest CPI and PPI data for August.

The country’s producer inflation in August beat expectations, coming in at 3.8% year on year compared with Reuters-poll estimates of 3.6%. Consumer inflation was in line with estimates at 0.8%.

The declines in Hang Seng were led by consumer non-cyclicals and cyclicals sectors, down 0.40% and 0.33%, respectively.

— Justina Lee

Asia-Pacific markets traded mixed early Wednesday, with the escalating Mideast conflict denting investor sentiment.

Japan’s Nikkei 225 slipped 0.23% while the Topix declined 0.35%. South Korea’s Kospi gained 0.36%, while the small-cap Kosdaq rose 0.47%.

Australia’s benchmark S&P/ASX 200 was marginally higher.

— Justina Lee

Asia-Pacific markets were set to open broadly lower, tracking U.S. stocks as worries over higher oil prices dented sentiment amid an escalation in the Mideast conflict.

Japan’s Nikkei 225 was poised to decline, with the Chicago futures contract at 65,030 and its Osaka counterpart last trading at 65,040, compared with the index’s previous close of 65,269.33.

Hong Kong Hang Seng index futures were at 25,281, compared with the index’s last close of 25,317.18.

Futures for Australia’s S&P/ASX 200 last traded at 8,924, while the index closed at 8,920.80.

According to a statement from U.S. Central Command, five Iranian crude oil tankers were destroyed by the U.S. military on Tuesday, in retaliation for the Iranian Revolutionary Guard firing ballistic missiles at an American warship twice over the past two days.

The U.S. military also said earlier that an unmanned submersible that Iran reportedly seized in the Strait of Hormuz was “defective” and carried no sensitive data or classified equipment.

WTI crude futures for October delivery were trading 1.4% higher during early Asia hours at $94.34.

— Justina Lee

These are some of the stocks moving in extended trading:

• ServiceTitan — The software provider’s stock tumbled 19% after posting current-quarter revenue guidance that came in slightly below analyst forecasts. However, ServiceTitan surpassed Wall Street consensus estimates on both lines in the second quarter.
• Casey’s General Stores — The chain lost 10% despite beating expectations on both lines for the first fiscal quarter. Casey’s said it anticipates inside same-store sales will grow by between 2% and 5% in the full year.
• Mission Produce — Shares of the avocado producer popped 7.5%. Mission Produce beat the expectations of every analyst polled by FactSet for both earnings per share, excluding items, and revenue in its fiscal third quarter.

See the full list here.

— Alex Harring

Futures tied to the Dow, S&P 500 and Nasdaq 100 all traded near flat shortly after 6 p.m. ET Tuesday night.

— Alex Harring