U.S. Averages Rested As Bond Yields and Crude Oil Prices Stabilized

Barry Adams
03 Sep, 2026
New York City

U.S. stocks traded mixed as bond yields and crude oil prices stabilized. 

The S&P 500 Index traded flat, and the tech-focused Nasdaq Composite decreased 0.1% as rising Middle East tensions dampened market sentiment. 

In Wednesday's trading, major U.S. averages edged up about 0.5%, breaking a three-day losing streak fueled by geopolitical and interest rate concerns.  

Global Treasury yields and crude oil prices eased from their recent highs, providing a much-needed breather for investors. 

West Texas Intermediate futures hovered near $91 a barrel as fighting between the U.S. and Iran intensified. 

Strong earnings and revenue outlooks from major tech companies capitalizing on artificial intelligence lifted sentiment in the tech sector. 

Dell Technologies surged 16% following an upward revision to its annual revenue guidance, while Snowflake and Broadcom also pointed to robust demand for AI infrastructure and products.

Despite the slight easing of bond yields, investors remained concerned over rapidly rising U.S. federal government debt, which has now surpassed $40 trillion and is growing by one trillion dollars every 100 days. 

 

U.S. Movers 

Broadcom decreased 3.6% to $354.0 after the company reported results for its fiscal third quarter ending on August 2. 

Despite beating expectations and issuing a strong outlook, Broadcom's stock dropped as much as 6% in extended trading following the report.

Revenue surged 86% to $29.6 billion from $15.9 billion, net income advanced 216% to $13.1 billion from $4.2 billion, and diluted earnings per rose to $2.68 from 65 cents a year ago. 

Broadcom's AI semiconductor revenue soared 221% and 54% annually and sequentially to $16.7 billion, driven by robust demand for custom AI accelerators and networking tools.

"In Q4 the momentum continues, and we expect AI semiconductor revenue to accelerate to $21.7 billion, up 236% from a year ago," said Hock Tan, president and CEO of Broadcom Inc.

Across business segments, semiconductor solutions revenue advanced 127% from a year ago to $20.8 billion, while infrastructure software revenue climbed 29% to $8.8 billion.

Snowflake soared 24% to $379.16 after the company posted strong results for the fiscal second quarter ending in July.  

Revenue jumped 35% to $1.6 billion from $1.2 billion, net loss shrank to $191.7 million from $297.9 million, and diluted loss per share eased to 55 cents from 89 cents a year ago. 

The company's newer AI products drove approximately half of the quarter's acceleration, with its AI coding agent CoCo crossing 9,100 accounts after adding more than 2,000 net new accounts during the quarter.

Core product revenue jumped 37% from a year ago to $1.49 billion, marking Snowflake's third consecutive quarter of accelerating growth, while its net revenue retention rate sustained a stable 126%.

The company lifted its full-year revenue outlook to $6.07 billion from the previous estimate of $5.84 billion, an increase of 36% from a year ago. 

Snowflake estimated an adjusted operating margin of 14.5%, higher than the previous estimate of 13.5%.