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

Episode Date: September 3, 2026

CNBC Business News Update with Jessica Ettinger - Markets & Business News With Expert Analysis From Top Business Names. Visit CNBC.com For More. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

CNBC Business News Update. Market closed Thursday. I'm Jessica Eddinger. Wall Street opens Friday morning after a winning day for stocks. The Dow had its best day in a month. Treasury yields fell. The Dow was up 624 points, more than 1% led higher by shares of Goldman Sachs, up 3%. Sales Force up almost 3%. The S&P 500 index was up 81 points Thursday. The NASDAQ up 300.com. 66 points, almost 1.5%. Some interest rate relief helped stocks. Here's CNBC's Mike Santoli. S&P's still below last week's high, intraday high. You know, we're not really in the clear just yet. Also, not dramatic moves in yields at this point. So we're still going to be to some degree in suspense about the date over the next week, what it means for the Fed and all the rest of it. Companies who shares at fresh all-time highs on Thursday include oil names, Marathon Petroleum, Phillips 66, and Valero. U.S. crude oil. very close to $92 a barrel. Americans are heading into the long Labor Day holiday weekend with

prices at the pump at a record high for the holiday. AAA says as of Thursday, Americans are paying $4.14 a gallon. Vice President J.D. Vance said Thursday the Fed should lower interest rates. We feel quite confident that if you look at the inflation numbers, if you look at the CPI numbers, that it's proper and responsible for the Federal Reserve to lower interest rates. And words from the Federal Reserve Governor Christopher Waller helps stocks on Thursday. He said he's waiting for data to decide whether he'd vote to raise interest rates. More on that from CNBC Senior Economics Reporter, Steve Leesman. The comments from the Fed Governor raise additional doubts on whether or not there's going to be a hike at the September meeting.

Waller firmly on the fence about whether to hike or to hold saying the August inflation report coming next Friday would be decisive. If there's continued progress towards our 2% goal, then I would. willing to support holding the policy rate at its current level. But if inflation comes in hot, I would consider a rate hike. The probability of a Fed rate hike at the September meeting declined to 50% from 61% before Walters spoke. Full coverage of that important inflation report for August. Friday morning, September 11th on CNBC, CNBC.com and the CNBC app on your phone. Invidia is buying the AI platform. It's agents hacked.

Hugging Face for $13 billion. More insights Patrick Moorhead tell CNBC. This Nvidia move makes sense. InVitya just bought the place where developers decide which model to run, right? So it's distribution. Top line, it's about accelerating open source growth. But it's also a hedge, right? I mean, the neocloud's a hedge, the hyperscalers.

And I think Hugging Face hedges the closed labs building their own chips. Invidia shares up almost 2% on Thursday. hope for a trade deal with Canada anytime soon is fading. Here's CNBC's Andrew Ross Sorkin. Canada, our second biggest trading partner, set to start tariffs on American goods Tuesday, September 8th. It's a major trading dispute with billions of dollars online. David Cohen was the U.S. ambassador to Canada.

Do you see any path right now towards some kind of deal before this deadline? It's hard to see a path toward a resolution of anything in the next less than a week when both sides. are so insistent that there are no talks ongoing and there are no plan talks because you certainly can't get a resolution if you're not talking to each other. On Friday's watch list, it is a jobs Friday investors waiting for the August employment report from the Labor Department. New in theaters Friday. IFC's drama, The Sun Never Sets, A24's thriller onslaught and Paramount's thriller by any means. Jessica Eddinger, CNBC.