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Nasdaq 26,218 Β· AI cloud economics shift as hardware buying beats renting ‌ ‌ ‌ ‌ ‌
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Stock Mornings
Your weekday pre-market read on US stocks.
Issue #53 Β· Thursday, September 3, 2026
Volatility (VIX)  Cautious Β· 15.3  β–² from 15.2 yesterday
Stocks edged higher as traders assessed geopolitical tensions, corporate earnings momentum, and potential currency intervention signals from Japan.
 
 

●  The Numbers

S&P 5007,666.60  +0.46%
-0.12% this week
Nasdaq Composite26,217.83  +0.45%
+0.34% this week
Dow Jones53,061.95  +0.56%
-0.75% this week
Russell 20002,953.17  +1.13%
-1.75% this week

Before the bell: see how Asia, Europe & US futures traded overnight →

●  The Movers

Leaders

NVDA Nvidia+3.21%
META Meta+2.47%
^RUT Russell 2000+1.13%

Laggards

SPCX SpaceX-1.07%
MSFT Microsoft-0.84%
AAPL Apple-0.05%

The day's best and worst of the tracked indices and mega-caps Β· day-over-day change.

●  The Read

S&P 500 β€” description, not prediction

Trading above both its 50-day (7,576.70) and 200-day (7,131.47) averages β€” the longer-term trend reads as up. 30-day range 7,316.15–7,798.99; currently in the upper third of that range. RSI(14) 36 β€” momentum weak.

See where every market sits on the daily page β†’

●  The Brief

 AI cloud economics shift as hardware buying beats renting

Major tech companies are finding it more cost-effective to purchase AI infrastructure outright rather than rent cloud computing power, potentially reshaping how big tech deploys artificial intelligence and manages capital. (MarketWatch)

 China rejects G20 pressure on export-reliant growth model

China pushed back against international calls to reduce export dependence at the G20, while challenging U.S. Iran sanctions and European trade measures, escalating trade-policy tensions. (CNBC)

 Japanese yen hits one-month high on intervention expectations

The yen strengthened as U.S. Treasury Secretary Scott Bessent signaled Japanese authorities may take action to support the currency, affecting currency markets and multinational corporate earnings. (CNBC)

 Snowflake stock surges on AI-driven software demand outlook

Wall Street analysts are expressing bullish sentiment on the cloud software company, citing sustained benefits from the artificial-intelligence adoption wave among enterprise customers. (MarketWatch)

Partner

The charts we read every morning

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Markets 101

What does Nvidia actually make?

Graphics and AI chips (GPUs). Originally for video games, its processors became the workhorses of artificial-intelligence computing, which drove it to a multi-trillion-dollar valuation.

β€œMarkets are a description of today, not a forecast of tomorrow.”

Stock Mornings is an educational digest for US readers. Nothing here is financial, investment, tax, or legal advice. Stocks carry risk β€” you can lose money, and past performance does not predict future results. Some links may be affiliate links; we may earn a commission at no cost to you. Prices via Yahoo Finance, captured shortly before the opening bell.

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