Market Open: Stocks Higher, Treasury Yields Pull Back, Nvidia Buys Hugging Face • 9/3/26

0:00CNBC Business News update market open. I'm Jessica Edinger Wall Street higher for the major averages markets boosted by a drop in Treasury yields. The yield on the 10 year down from 4.81 to 4.74 percent today. The Dow soaring up 429.8 tenths of a percent. The S&P 500 index up 46.5 percent out of the gate and the NASDAQ up 216 points. 8 tenths of a percent this morning. Oil is struggling, though. Six week highs, US crude around $92.00. A barrel Brent inching toward $100.00. A barrel diesel fuel in the US used power trucks, trains, ships, and ag equipment. Only a nickel from its record high. Diesel fuel costs can get passed down to consumers down the road pushing inflation. Higher, meantime, Americans are paying even more at the pump for their vehicles today. AAA saying the national average for a gallon of regular is up to $4.14.

1:04AAA also says August set a gas price record and not a good one. For the first time in history, drivers endured gas prices on average higher than $4.00 a gallon every day in that month. In video confirmed to CNBC it's buying AI platform hugging face for nearly $13 billion in video CEO Jensen Wolling making the case for the deal on CNBC today. Our fundamental goal is just to make sure that AI advances as quickly as possible. And it's really, really important right now as the open models are really accelerating that we make sure that we provide hugging face the platform to continue to scale and for the resource for them to scale and extend the open model ecosystem and community. And a take from CNBC Mad Money Host Jim Kramer. Look, you really got to be open. The Chinese are doing very, very well. We have to blunt them. We're just saying this. We need our own open. I applaud this and I think what people have to do is say if AMD were announced they were buying hugging face of broad common announcer, bugging hugged fish, buying hugs. We would send a video

2:08down there. So you gotta think of it like that. It's a little asymmetrical, but I was really dead and they got it because if there was a big one and they lost to someone else, people be saying, wow, they've lost their touch in the open more people applied for unemployment benefits last week. Jobless claims just more than same 206,000 close to expectations. Fifth number in a row above 200,000. Oh, very contained. That CNBC's Rick Santelli continuing jobless claims. People who continue to collect unemployment checks week after week. That number ticked higher hinting that it might be taking people longer to find their next job. Federal Reserve governor Christopher Waller indicating he will support holding interest rates steady at the Fed's September meeting. Here's CNBC, senior economics reporter Steve Leesman. Fed Governor Chris Waller saying inflation remains meaningfully above the 2% goal. But recent data suggests we're finally seeing, he says, some signs of disinflation and he's inclined to support holding the target range

3:11if this trend continues. On the other hand, he says if data doesn't show this improvement, it will be appropriate to hike at the next meeting. So he is laying out very much the way John Williams said yesterday a lot riding on next week's CPI report. Waller expects GDP to grow above 2% and the labor market he says is in satisfactory shape. Snowflake shares surging more than 20% in early trading on strong quarterly results. Snowflake's rally lifting its software peers too, including data dog service now and sales force. Broadcom shares go on the other way. They were slipping investors didn't like the chip makers revenue forecast for the fourth quarter. I'm Jessica Edinger CNBC. Hey, Fidelity. Can I get a second opinion on stocks in the Fidelity? With Fidelity, it's easy to get an outside opinion from independent experts in a single score. And then when you're ready, trade US stocks and ETFs with no commissions. That's right. I am always right. Investing involves risk, including risk of loss. Zero dollar commission does not apply to customers designated by Fidelity as a professional equity

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