NEW YORK, September 3, 2026, 15:00 EDT — The Nasdaq advanced 1.5% as comments from Waller indicated the possibility of a rate pause, pending economic conditions.
- The Nasdaq Composite rose 1.50%, outperforming the other three major U.S. indexes.
- The S&P 500 declined 0.03% in the past 60 minutes.
- Services prices climbed to 72.6, as the 10-year yield slipped to 4.762%.
By 15:00 EDT, the Nasdaq Composite was up 1.50% at 26,612.31, driven by strong performances in major technology stocks as Treasury yields retreated from levels seen at Wednesday’s close. The Nasdaq quote saw little movement over the past hour.
The S&P 500 climbed 1.11% to 7,751.31. The Dow rose 1.15%, and the Russell 2000 increased by 0.40%. The Nasdaq’s 1.11 percentage point advance over small caps underscored the rally’s focus on large caps.
The market’s signal to investors reflected a relief on valuations rather than concerns about growth. The yield on the 10-year Treasury slipped 3.4 basis points from Wednesday to 4.762%. The drop overshadowed a higher reading on services prices, which typically affects rate-sensitive technology stocks.
Major indexes rose, but the Nasdaq kept the lead
Change from Wednesday’s close; intraday checkpoints through
Source: Yahoo Finance intraday market data. Values are fixed snapshots, not live prices.
Momentum slowed ahead of the last hour. Between 14:00 and 15:00 EDT, the Nasdaq slipped 0.03%. The Dow retreated 0.06%, while the Russell 2000 shed 0.11%. The S&P 500 inched down 0.03%.
Strong session, quiet latest hour
Session change versus the separate 14:00–15:00 EDT interval
Source: Yahoo Finance one-minute index data; calculated from previous closes and 14:00 EDT levels. As of 15:00 EDT.
By 15:00 EDT, Microsoft Corporation NASDAQ:MSFT was up 3.00%. Shares of Meta Platforms, Inc. NASDAQ:META increased 3.53%. NVIDIA Corporation NASDAQ:NVDA climbed 2.21%, and Apple Inc. NASDAQ:AAPL rose 0.68%. The gains from these stocks provided much of the boost for the capitalization-weighted index.
Sector performance was largely positive, though mixed. Eight out of 11 sector funds rose. Gains were led by consumer discretionary, financials and technology, while materials, energy and staples declined even as the main index moved higher.
Consumer and financial shares led sector breadth
Select SPDR sector ETF changes from Wednesday’s close
Source: Yahoo Finance quotes for XLY, XLF, XLK, XLB, XLE and XLP. Breadth uses all 11 sector funds.
The broader economic outlook continued to be uneasy. The ISM Services PMI increased to 55.4 in August from 54.1 previously. The prices index advanced to 72.6, reaching its highest level since August 2022. Employment remained in contraction territory at 47.8.
Federal Reserve Governor Christopher Waller offered investors a nuanced reassurance. “If there is continued progress toward our 2 percent goal, then I am willing to support holding the policy rate at its current level,” he said. However, he indicated he would back a hike if inflation accelerates.
Latest labor figures showed no abrupt shift. Initial jobless claims increased by 2,000 to 206,000, with the four-week moving average at 207,250. In another report, the July trade gap grew 24.4% to $88.6 billion.
Growth strengthened while price pressure rose
August survey readings and the market’s yield response
Sources: Institute for Supply Management and Yahoo Finance. Yield as of 15:00 EDT.
Trading volumes remained steady. By 15:00 EDT, SPY saw 26.1 million shares change hands. QQQ recorded 22.5 million shares traded, while IWM reported 12.3 million. Each represented about 72% of their respective 20-session average daily volume.
Risks: Oil hovered close to $91.60 per barrel, gaining 0.65%, as hostilities in the Middle East persisted. Rising energy prices risk rekindling inflation concerns. A late swing in yields could further threaten technology’s leadership.
The next challenge comes soon. The August jobs report is due at 08:30 EDT on Friday, and its data on wages and payrolls may determine if Thursday’s decline in yields continues.
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