US Stocks-Wall Street ends sharply higher as Waller remarks ease rate hike fears

SPY•2026-09-03

AI, software and crypto names lead sector moves

According to preliminary data, the S&P 500 gained 81.67 points, or 1.07%, to end at 7,748.27 points, while the Nasdaq Composite gained 366.39 points, or 1.40%, to 26,584.21. The Dow Jones Industrial Average rose 627.37 points, or 1.18%, to 53,689.32.

Nvidia rose after the company said it would buy developer platform Hugging Face for $12.9 billion in a challenge to OpenAI and Anthropic.

But chipmaker Broadcom dropped following its weaker-than-expected fourth-quarter revenue forecast, a reminder that companies at the center of the AI buildout have a high bar to clear.

Snowflake soared after forecasting strong annual revenue, boosting sentiment across the software sector. ServiceNow, Salesforce and Adobe also rose on the day.

Crypto-linked stocks rose after bitcoin rebounded following two straight sessions of losses, with Strategy, Coinbase Global and retail trading platform Robinhood Markets all enjoying sizeable gains.

US Stocks-Wall Street ends sharply higher as Waller remarks ease rate hike fears

AI, software and crypto names lead sector moves

Economic data and Friday payrolls report in focus

Wall Street rallies after Waller eases rate-hike fears

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