Stock Movers Today, September 3, 2026: Snowflake Soars 22%, Tesla Jumps as Broadcom Slides

Snowflake, Tesla and Broadcom were among the stocks drawing the most attention on Wall Street Thursday as investors chased strong AI growth, positioned for Tesla’s Cybercab event and punished Broadcom for an outlook that did not fully meet high expectations.

The moves came during a broader stock market rally. Treasury yields eased after Federal Reserve Governor Christopher Waller said he could support keeping rates unchanged in September if inflation continues to improve. That helped ease some of the rate pressure that had weighed on growth stocks earlier in the week.

Major market and stock moves Thursday included:

• Snowflake: up 21.7% in the latest AP market update after its earnings and stronger outlook.
• Tesla: up about 7% as investors positioned ahead of its Cybercab event in Texas.
• Robinhood: up about 15%, helped by analyst upgrades and optimism around its expanding financial platform.
• Broadcom: down more than 4% during Thursday trading despite strong quarterly results.
• Ultragenyx: down roughly 45% after a closely watched late-stage drug trial failed to meet its main goal.
• S&P 500: up about 1.1%.
• Dow Jones Industrial Average: up about 634 points, or 1.2%.
• Nasdaq Composite: up about 1.4%.
• 10-year Treasury yield: around 4.75%, down as bond-market pressure eased.

Snowflake was one of Thursday’s clearest earnings winners. The cloud-data company reported fiscal second-quarter product revenue of $1.49 billion, up 37% from a year earlier, according to its SEC filing. Total revenue reached $1.55 billion, while remaining performance obligations rose 30% to $9 billion.

Snowflake also raised its fiscal 2027 product revenue forecast to $6.07 billion from $5.84 billion. Reuters reported that CEO Sridhar Ramaswamy said AI accounted for roughly half of the recent acceleration in growth, giving investors stronger evidence that AI spending is translating into real usage of Snowflake’s core platform.

Read Next: Stocks to Watch Today, September 3, 2026: Nvidia, Tesla and AI Stocks

Tesla’s rally had a different catalyst. Investors were looking ahead to the company’s Cybercab event in Texas, where Tesla is expected to give a closer look at its purpose-built two-seat robotaxi. The vehicle is central to CEO Elon Musk’s push to make autonomous transportation a much larger part of Tesla’s future business. Reuters said important questions remain around production timing, costs and how quickly Tesla can expand commercial robotaxi operations.

Tesla also entered the event after reporting 86,166 China-made vehicle sales in August, including exports. That was up 3.6% from a year earlier but down 7.9% from July, showing that the company is still facing strong competition even as investors focus increasingly on autonomous driving.

Broadcom showed why strong earnings alone are not always enough when expectations are extremely high. The chipmaker reported third-quarter revenue of $29.6 billion, up 86% from a year earlier, while adjusted earnings reached $3.32 per share. Its company results also showed $13.7 billion of free cash flow.

AI semiconductor revenue reached $16.7 billion, and Broadcom increased its longer-term AI sales expectations. But investors focused on fiscal fourth-quarter revenue guidance of about $34.8 billion, which came in below some Wall Street expectations. That gap was enough to push the shares lower even as the company’s AI business continued to expand rapidly.

The wider market backdrop also mattered. Lower Treasury yields gave expensive technology shares some relief, while Waller’s comments reduced fears that another Fed rate increase was inevitable this month. Investors are now turning toward Friday’s U.S. jobs report, which could quickly change expectations for interest rates again.

Oil remains another risk. Brent crude stayed near $96 a barrel Thursday as the Iran conflict continued to keep inflation concerns alive. Higher energy prices could make the Fed’s next decision harder even if the labor market begins to cool.

Read Next: Stock Market Today, September 3, 2026: Wall Street and Jobs Report

For investors asking why stocks are moving today, the answer is not one single story. Snowflake is benefiting from stronger AI demand, Tesla is trading on expectations around autonomous driving, and Broadcom shows how quickly a stock can fall when an already-high bar is not cleared. Friday’s jobs report now becomes the next major test for both individual stock momentum and the broader Wall Street rally.