Wall Street Rally Stalls as Traders Weigh Growth Risks and Hunt for Fresh Catalysts – US Market Wrap

Wall Street’s meteoric rise since April’s meltdown is showing signs of exhaustion as stock traders seek new catalysts amid risks ranging from a labor-market slowdown to sticky inflation.

While the S&P 500 defied September’s reputation as the worst month for equity returns, it failed to gain traction on Wednesday. The market’s ebullience caused the index to set nearly 30 new records in 2025, exceeding the average year-end analyst forecast and prompting calls for consolidation.

The S&P 500 index fell 0.3%. Despite an optimistic forecast, Micron Technology has fallen nearly double this year. Intel was rumoured to be seeking an investment from Apple as part of a comeback strategy. Oracle sold $18 billion of US investment-grade bonds. Treasury yields moved higher alongside the dollar.

Despite the lack of strength on Wednesday, the stock market remains close to its record. This is supported by the belief that the economy is not about to fall off a cliff, and that growth will be boosted by rising corporate profits and the artificial-intelligence boom.