Stocks Rise as Buyers Scoop Up Bargains After Rout: Markets Wrap
(Bloomberg) — Stocks rose after a drop fueled by concerns about inflation, with attractive valuations and solid corporate earnings luring bargain hunters.
The S&P 500 halted a three-day decline. Dell Technologies Inc. soared 16% on a solid outlook. A slowdown in the oil rally that had recently rattled global markets helped sentiment, though US crude settled above $90. Treasury yields edged lower after a surge to multi-year highs. The yen climbed, leaving traders on alert for further intervention.
In late hours, Broadcom Inc.’s outlook disappointed investors. Snowflake Inc. jumped after raising its revenue projection and touting rapid adoption of its AI-assisted coding tool. Hewlett Packard Enterprise Co. boosted its sales forecast.
Relative calm returned to Wall Street, following a bout of volatility triggered by Middle East fighting that had stoked fears that higher energy costs could make the Federal Reserve lift rates. President Donald Trump said strikes on Iran would likely be short-lived, reiterating the US controls the Strait of Hormuz.
“Stocks are finding some footing after a difficult start to September,” said Angelo Kourkafas at Edward Jones. “Underlying fundamentals remain constructive. While seasonal headwinds merit attention, they are not sufficient on their own to derail the broader market uptrend.”
US economic activity increased modestly in the past two months with demand from data centers, in particular, driving growth, according to the Fed’s Beige Book survey of regional business contacts.
In the run-up to Friday’s payrolls report, data showed US companies added jobs at a more moderate pace in August, underscoring a stable labor market.
Job creation has been uneven this year, but the unemployment rate is historically low, according to separate government data. That has reassured some policymakers the labor market is in balance, allowing them to focus more on inflation. Fed Chair Kevin Warsh last week said the labor market overall is consistent with full employment.
Fed Bank of New York President John Williams told CNBC there’s evidence inflation continues to ease as the impact of tariffs fades while higher energy prices are not spreading to other services.
“His comments by no means rule out a September hike, but they challenge the market view that a September rate hike is clearly odds-on,” said Krishna Guha at Evercore.
Corporate Highlights:
Nvidia Corp. Chief Executive Officer Jensen Huang called on Group of 20 nations to accelerate their adoption of artificial intelligence as a way to enhance growth, urging the world’s largest economies to expand data centers and other infrastructure to support the emerging technology. Meta Platforms Inc. released its most powerful artificial intelligence model yet, with its chief AI officer saying its capabilities are edging closer to top competitors. Alphabet Inc.’s Google doesn’t have to sell off its advertising exchange and instead must make its ad tech tools work with those operated by rivals, a federal judge ruled Wednesday, in a move that saves the tech giant from a second bid to force a breakup. Uber Technologies Inc. is cutting about 3,300 roles, or 10% of its staff globally, in a massive restructuring aimed at reducing management layers and reallocating spending into its ride-sharing, delivery and robotaxi businesses. Elliott Investment Management has built a sizeable stake in Deutsche Telekom AG and indicated the German telecommunications giant should ditch a potential merger with its American arm T-Mobile US Inc., people familiar with the matter said. Some of the main moves in markets:
Stocks
The S&P 500 rose 0.5% as of 4 p.m. New York time The Nasdaq 100 rose 0.2% The Dow Jones Industrial Average rose 0.6% The MSCI World Index rose 0.2% Currencies
The Bloomberg Dollar Spot Index fell 0.2% The euro was little changed at $1.1590 The British pound fell 0.2% to $1.3491 The Japanese yen rose 0.9% to 158.68 per dollar Cryptocurrencies
Bitcoin was little changed at $77,430.85 Ether fell 1% to $2,396.29 Bonds
The yield on 10-year Treasuries declined two basis points to 4.78% Germany’s 10-year yield advanced three basis points to 3.38% Britain’s 10-year yield advanced one basis point to 5.23% Commodities
West Texas Intermediate crude rose 0.1% to $90.33 a barrel Spot gold rose 1.4% to $4,388.92 an ounce ©2026 Bloomberg L.P.
