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

Published Sep 6, 2026, 8:01 PM EDT

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.

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

Stocks in this edition: NVDA, MRVL, SNDK

Upcoming earnings

• AVAV — Wed, Sep 9, 2026, time not announced
• ADBE — Thu, Sep 10, 2026, after the close
• ORCL — Thu, Sep 10, 2026, time not announced
• MU — Wed, Sep 30, 2026, after the close
• PEP — Thu, Oct 8, 2026, before the open
• JNJ — Tue, Oct 13, 2026, time not announced

The day's lineup changes

No lineup changes this day.