US Markets Rise on Fed Inflation Signal; Tech Stocks Diverge

The US stock market rallied on September 3, 2026, as Federal Reserve Governor Christopher Waller hinted at potential interest rate stability if inflation cools. This optimism drove the S&P 500 to strong gains.

Waller's comments provided relief to markets highly sensitive to central bank policy decisions. The broader market sentiment improved with his outlook on interest rates, but individual tech stocks showed sharp differences in performance driven by their latest financial reports.

Snowflake was a standout, with shares surging over 20% after the company delivered strong results for the second quarter of fiscal 2027. Snowflake reported revenue of $1.55 billion, beating market estimates, and increased its full-year product revenue outlook to $6.07 billion.

In contrast, Broadcom shares faced selling pressure despite reporting strong underlying growth. The company revealed third-quarter fiscal 2026 revenue of $29.59 billion, an 85.5% increase compared to the same period last year, but failed to satisfy high investor expectations with its fourth-quarter revenue guidance.