US briefings — Wednesday, September 2, 2026

S&P 500 rises 0.46% to 7,666.60 as Dell's record AI backlog offsets a second day of software selling

The S&P 500 closed at 7,666.60 on 2 September 2026, up 0.46%, with the Nasdaq up 0.45% and the Dow up 0.56%. The entire gain came from outside technology: XLK.US finished at -0.02% as SMH.US +0.96% cancelled IGV.US -2.60%, a second straight software decline. DELL.US rose 15.81% on record $60.9 billion of AI server orders and a $95 billion backlog, while PANW.US, MDB.US and CRDO.US fell 9.28%, 13.54% and 20.04% after all three beat consensus. The Russell 2000 gained 1.13% and the VIX fell 6.98% to 15.20. After the close, SNOW.US beat on both lines and AVGO.US guided under consensus.