A blowout jobs report reignited Fed hike fears, but our NVDA deal halo kept the chip trade flying

Evening brief: A blowout jobs report reignited Fed hike fears, but our NVDA deal halo kept the chip trade flying

Strong Jobs Report Ignites Rate Hike Fears: An unexpected August payroll blowout of 162k jobs spiked Treasury yields and pushed September Fed rate-hike odds to 60%. SNDK Jumps 11.9% as AI NAND Scarcity Bites: SanDisk surged 11.9% following Dell warnings of NAND flash shortages and Nvidia's $12.9 billion Hugging Face deal. MRVL Surges 7.1% on AI Guidance Boost: Marvell Technology surged 7.1% after posting a second-quarter earnings beat and raising multi-year revenue guidance on custom silicon demand. Adobe Falls 6.7% Ahead of Q3 Earnings: Adobe dropped 6.7% as investor skepticism over freemium AI monetization weighs on recurring revenue expectations before Thursday's earnings. CPI Release and Software Earnings On Tap: Investors focus on upcoming CPI data to gauge Fed policy, alongside high-stakes earnings from Oracle and Adobe on Thursday.

Strong Jobs Report Ignites Rate Hike Fears

An unexpected August payroll blowout of 162k jobs spiked Treasury yields and pushed September Fed rate-hike odds to 60%.

SNDK Jumps 11.9% as AI NAND Scarcity Bites

SanDisk surged 11.9% following Dell warnings of NAND flash shortages and Nvidia's $12.9 billion Hugging Face deal.

MRVL Surges 7.1% on AI Guidance Boost

Marvell Technology surged 7.1% after posting a second-quarter earnings beat and raising multi-year revenue guidance on custom silicon demand.

Adobe Falls 6.7% Ahead of Q3 Earnings

Adobe dropped 6.7% as investor skepticism over freemium AI monetization weighs on recurring revenue expectations before Thursday's earnings.

CPI Release and Software Earnings On Tap

Investors focus on upcoming CPI data to gauge Fed policy, alongside high-stakes earnings from Oracle and Adobe on Thursday.

Posture: Adopting a Building Cash posture as Fear (42) and a 60% Fed rate-hike probability signal elevated volatility ahead of CPI.

Tickers in focus: NVDA, MRVL, SNDK

Upcoming earnings

• AVAV — 2026-09-09, TBD
• ADBE — 2026-09-10, After Market Close
• ORCL — 2026-09-10, TBD
• MU — 2026-09-30, After Market Close
• PEP — 2026-10-08, Before Market Open
• JNJ — 2026-10-13, TBD

The day's moves on the ledger

Every entry below is public and permanent.

• Sep 6, 2026 · ANET — Dropped @ $194
  Target virtually hit with upside squeezed down to 2.2%, making room for higher-conviction growth plays.