---
title: "Technology was the only sector up after a below-forecast inflation print"
url: "https://etf.net/news/technology-was-the-only-sector-up-after-a-below-forecast-inflation-print-2026-09-30"
published_at: "2026-09-30T20:58:50.789Z"
updated_at: "2026-09-30T20:58:50.789Z"
byline: "ETF.net Research"
---

# Technology was the only sector up after a below-forecast inflation print

The technology fund VGT gained 0.7% on Wednesday, September 30, the only rise among the eleven sectors, after the PCE price index rose 3.4% in the year through August, under a 3.7% forecast, and the 30-year Treasury yield closed at 5.64%.

By ETF.net Research. Published Sep 30, 2026.

Technology was the only one of the eleven sectors to rise on Wednesday. VGT, the fund that holds US technology companies, gained **0.7%**. SPY, which holds the S&P 500, lost 0.3%. RSP, which holds those same companies in equal amounts, fell 0.7%, more than twice as much.

Chart: **Technology** was the only sector to rise

The Bureau of Economic Analysis said the PCE price index, the measure of prices consumers pay, rose **3.4%** in the year through August. That matched July, after July was revised down from 3.7%, and it came in under the 3.7% economists surveyed by Dow Jones had expected.

Prices rose 0.3% in August, from a revised 0.1% in July. Without food and energy, prices rose 0.2% in the month and 3.0% over the year. That yearly rate matched July, after the July rate was revised down from 3.3%.

The way we read it, the largest technology shares rose on that shortfall. Nvidia makes up 17.7% of VGT and rose 0.5%. Apple, at 15.8%, rose 1.1%, so the smaller holding did more of the lifting.

Everyday goods took the largest drop. XLP, which holds the big US grocers and household brands, lost 1.5%. Walmart fell 2.7%, Procter & Gamble fell 2%, and Costco fell 1.5%.

XLU, which holds the big US power and gas companies, fell 0.7% after rising 1.2% on Tuesday. Constellation Energy, a large holding, fell 4%.

The two-year Treasury yield closed at 4.88%, down from 4.89% on Tuesday. The 10-year closed at 5.29%, up from 5.26% on Tuesday, and the 30-year closed at 5.64%, above the 5.62% it touched that day.

The fund that holds US Treasurys maturing in more than 20 years, TLT, fell 0.6% and touched its lowest price in the past year.

Source: etf.net, https://etf.net/news/technology-was-the-only-sector-up-after-a-below-forecast-inflation-print-2026-09-30. Please cite the page URL.