NEW YORK, September 2, 2026, 15:00 (EDT)
- The iShares Russell 2000 ETF rose 1.18%, versus a 0.42% S&P 500 gain.
- Small-cap turnover reached 85.9% of its recent full-day average by 15:00 EDT.
- Materials led sectors, while technology and real estate remained lower.
The iShares Russell 2000 ETF NYSEARCA:IWM climbed 1.18% to $294.01 by 15:00 EDT. That was nearly three times the S&P 500’s 0.42% gain Yahoo Finance.
The stronger clue came from turnover. IWM had traded 14.75 million shares, or 85.9% of its recent full-day average.
The S&P 500 reached 7,663.57, but slipped 0.01% after 14:00 EDT. The Nasdaq Composite held near 26,187.58, almost unchanged over that hour. The advance had lost speed.
A broad rally, then a quiet hour
Session change and 14:00–15:00 EDT change
As of . Source: Yahoo Finance intraday data; TS2 calculations. IWM is the Russell 2000 proxy.
Breadth supported that reading. Advancers led 1.89-to-1 on the NYSE and 1.61-to-1 on Nasdaq at midday, Reuters reported Reuters. The Invesco S&P 500 Equal Weight ETF NYSEARCA:RSP was up 0.55% by 15:00.
Materials led the sector tape with a 1.81% gain. Communication services added 1.43%. Technology fell 0.17%, while real estate lost 0.53%.
Value-sensitive sectors held the lead
As of September 2, 2026, 15:00 EDT. Source: Yahoo Finance sector ETF prices; TS2 calculations.
Automatic Data Processing’s NASDAQ:ADP payroll gauge showed 38,000 private jobs added in August. Economists polled by Reuters expected 48,000. July’s gain was revised to 46,000 ADP.
Oil remained an inflation risk. West Texas Intermediate rose 0.62% to $90.78, though it fell 0.39% after 14:00. U.S. commercial crude inventories dropped 4.5 million barrels last week EIA.
Macro pressure eased, but did not disappear
Market figures at September 2, 2026, 15:00 EDT or latest delayed reading before that cutoff. Sources: ADP, Yahoo Finance, and EIA.
Dell Technologies NYSE:DELL surged 13.56% to $482.62. It raised annual revenue guidance to $192 billion. Adjusted earnings guidance climbed to $25.50 per share Dell.
Nvidia NASDAQ:NVDA added 3.18%, but earnings reactions remained selective. Palo Alto Networks NASDAQ:PANW fell 10.57% after reporting quarterly revenue growth of 34% Palo Alto Networks.
Small-cap participation was unusually advanced
Shares traded by 15:00 EDT as a percentage of the prior 22-session full-day average
Raw volume: IWM 14.75 million, QQQ 17.32 million, SPY 17.44 million. Source: Yahoo Finance historical and intraday data; TS2 calculations.
“The apparent upturn in employment growth in the spring already has faded,” Pantheon Macroeconomics economist Oliver Allen said Reuters.
Risks: Oil above $90 and a 10-year yield near 4.8% could reverse the small-cap bid. Thin late-day liquidity may also exaggerate moves.
Friday’s August employment report is the next major test. Economists polled by Reuters expect 56,000 nonfarm jobs and a 4.1% unemployment rate.
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