NEW YORK, September 2, 2026, 12:00 EDT — Gains in materials shares lifted U.S. stocks at midday, with the S&P 500 rising 0.56%. The Dow pulled back after earlier climbing.
- The S&P 500 was at 7,674.43, rising 0.56% on the day and 0.06% since 11:00 EDT.
- The Dow rose 0.52%, though it fell 0.25% in the previous hour. The Nasdaq increased 0.22% in that same period.
- Materials gained 1.75% as October WTI crude remained steady at $90.59 at 11:58 EDT.
The recovery stayed widespread, but its driving force shifted before midday. Technology and energy sectors gained momentum while cyclical leaders lost steam.
S&P 500 climbed, then consolidated
Regular-session index level.
Source: Google Finance index data. The first point is 9:31 EDT.
The S&P advanced by 42.96 points compared to Tuesday’s finish. The SPDR S&P 500 ETF Trust NYSEARCA:SPY recorded 1.71 million shares traded by midday, according to minute-by-minute data Google Finance.
The Dow rose 0.52% to 53,042.73. The Nasdaq Composite advanced 0.50% to 26,230.07. The Russell 2000 increased 0.85% as of its delayed 11:50 EDT quote.
Early cyclicals cooled during the prior hour
ETF return through 12:00 EDT versus return from 11:00 to 12:00 EDT.
Source: Google Finance minute and session data. Returns rounded to two decimals.
Materials and communication services both rose over 1.7%, while financials were up 1.05%. Earlier in the session, these sectors had posted losses, indicating that the initial market breadth did not continue to broaden.
Banks were leading as of 10:52 EDT, the Associated Press reported. By midday, JPMorgan Chase NYSE:JPM had climbed 0.72%, with Bank of America NYSE:BAC advancing 1.26%. Both retreated by almost 1% after 11:00.
Company catalysts beat the fading bank bid
Price and return comparison at 12:00 EDT.
Source: Google Finance minute and session data. Prices rounded to cents.
Dell Technologies NYSE:DELL increased by 6.42% to $452.27, while NVIDIA NASDAQ:NVDA advanced 4.68% to $227.62. These gains contributed to the Nasdaq’s outperformance during the previous hour.
Dell increased its fiscal 2027 revenue forecast by $25 billion to $192 billion. Revenue for the quarter jumped 58% to $47.0 billion. “IT environments have shifted from cost centers to value drivers,” operating chief Jeff Clarke said Dell results.
NVIDIA’s $3.5 billion purchase of MediaTek TPE:2454 convertible bonds introduced an additional driver tied to a specific company. The two companies expanded collaboration in areas including AI infrastructure, PCs, and automotive NVIDIA announcement.
Automatic Data Processing NASDAQ:ADP said private employers added 38,000 jobs in August, marking the lowest increase since January. The manufacturing sector shed 17,000 positions, while education and health services gained 45,000, according to the ADP report.
ADP economist Nela Richardson said, “Pay can tell us a lot about today’s choppy hiring.” Data showed base pay increased by 3.2% from a year ago.
At 11:58 EDT, October WTI crude was priced at $90.59, gaining 0.41% Google Finance. Earlier, at 10:52 EDT, the 10-year Treasury yield stood at 4.80%, according to The AP.
Risks: Another jump in oil could push yields higher and undo the recovery. Light midday trading volume may amplify sector shifts.
The afternoon session is straightforward. Investors require stability in materials and banking sectors, otherwise, technology must contribute a larger share to the index rise.
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