The Dow Jones Industrial Average (^DJI) was down 91.61 (-0.18%) points today, trading at 50,814.44, as the market opened the fourth quarter of 2026 with a cautious tone. Dow Futures (YM=F) similarly was down 82.00 (-0.16%) points to 51,196.00. The primary narrative driving the market was the release of ISM Manufacturing PMI data, which came in lower than expected, signaling a slowdown in industrial expansion and renewing concerns over the Federal Reserve's restrictive monetary policy. This volatility reflects investor anxiety regarding the sustainability of corporate earnings in a high-rate environment as we approach the year-end.
In the green, 3M (MMM) was up 3.70% at $148.62, buoyed by positive legal developments and restructuring progress. High-growth favorite Nvidia (NVDA) was up 1.77% to $225.01, while healthcare staples like Johnson & Johnson (JNJ) and UnitedHealth Group (UNH) were up 1.61% and 1.00% respectively as investors sought defensive positioning. Cisco Systems (CSCO) also performed well, up 1.33% to $100.48, supported by strong enterprise demand.
Leading the decliners, IBM (IBM) was down 2.42% to $213.40 following a sector-wide rotation out of legacy technology. Consumer-facing and industrial stocks suffered from the weak economic data, with Home Depot (HD) down 2.14% to $303.85 and Caterpillar (CAT) down 1.22% at $901.99. Tech weakness continued with Salesforce (CRM), which was down 1.64% at $168.45, while financial heavyweights American Express (AXP) and JPMorgan Chase (JPM) were down 1.27% and 1.12% respectively.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.