Market Close: Stocks Higher, S&P 500 Gains Again, Treasury Yields Ease • 9/3/26

Watch on YouTube ↗  |  September 03, 2026 at 20:47  |  3:58  |  CNBC
Speakers
Patrick Morehead — Co-Host, All-In Podcast
Mike Santoli — Senior Markets Commentator
Jessica Ettinger — Anchor, CNBC
J.D. Vance — Vice President of the United States
Steve Liesman — Senior Economics Reporter
David Cohen — Former U.S. Ambassador to Canada

Summary

CNBC's Business News Update recaps a winning Thursday session with the Dow up 624 points, the S&P 500 and Nasdaq higher, and Treasury yields easing. Fed rate-hike uncertainty remains after Governor Waller's data-dependent comments, with key August inflation and jobs data ahead. Nvidia's planned $13 billion purchase of Hugging Face was highlighted as a strategic acquisition.

  • Dow rises 624 points for its best day in a month, while S&P 500 and Nasdaq also advance.
  • Treasury yields fall, offering some interest-rate relief to equities.
  • Fed Governor Waller is on the fence about a September hike, and September hike probability drops to 50%.
  • August inflation and jobs reports are key upcoming risk events.
  • Nvidia agrees to buy AI platform Hugging Face for $13 billion; an analyst sees distribution and hedging benefits.
  • Oil refiners Marathon Petroleum, Phillips 66, and Valero hit all-time highs as crude nears $92.
  • Canada tariffs on US goods are set for September 8, with a former ambassador seeing little chance of a quick trade deal.
  • VP J.D. Vance says the Fed should lower interest rates based on inflation progress.
Ideas
Mike Santoli Senior Markets Commentator 0:38
S&P 500 still below high, data-dependent
The S&P 500 is still below last week's intraday high, so the market is not in the clear yet. Yields have not made dramatic moves, and the market remains in suspense about upcoming data and what it means for the Fed.
SPY MED
Patrick Morehead Co-Host, All-In Podcast 2:38
Nvidia buying Hugging Face adds distribution hedge
Nvidia's acquisition of Hugging Face gives it the place where developers decide which model to run, adding distribution. It accelerates open-source growth and acts as a hedge: the clouds hedge hyperscalers, and Hugging Face hedges closed labs building their own chips.
NVDA HIGH
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This CNBC video, published September 03, 2026, features Mike Santoli, Patrick Morehead discussing SPY, NVDA. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Mike Santoli, Patrick Morehead  · Tickers: SPY, NVDA