Morning Preview: September 03, 2026

Early Look

Thursday, September 3, 2026

U.S. futures are little changed overnight with the S&P looking to open little changed and the technology heavy Nasdaq futures looking slightly lower as AI semiconductor giant Broadcom (AVGO) shares fall overnight after earnings and guidance results. Another likely quiet trading day on tap on light volumes ahead of tomorrow’s nonfarm payroll report and then the 3 day Labor Day holiday weekend. Stocks closed higher on Wednesday as nine of eleven S&P sectors finished higher led by Materials and Communications. In Asian markets, The Nikkei Index dropped -111 points to 64,214, the Shanghai Index was little changed holding at 3,942, and the Hang Seng Index fell -97 points to 25,213. In Europe, the German DAX is down about -50 points to 25,790, while the FTSE 100 is up a few points to 10,759. Another big move for the Japanese Yen, strengthening against the U.S. Dollar by 1.44% to 156.43, to the best levels since early May amid recent sustained action to support the Yen and the prospect of further monetary tightening have lifted it from a multi-decade low in July. Treasury yields are holding steady after hitting multi year highs, while gold prices rebound and oil extends its weekly advance.

• The Dow Jones Industrial Average rose 295.07 points, or 0.56%, to 53,061.95
• The Nasdaq Composite gained 118.05 points, or 0.45%, to 26,217.83
• The Russell 2000 Index advanced 33.03 points, or 1.13% to 2,953.17

• 8:30 AM ET                  Weekly Jobless Claims…est. 205K
• 8:30 AM ET                  Continuing Claims…est. 1.79M
• 8:30 AM ET                  International Trade for July…est. (-$90.0B)
• 8:30 AM ET                  Nonfarm productivity for Q2…est. +1.4%
• 8:30 AM ET                  Unit Labor Costs for Q2…est. +1.3%
• 9:45 AM ET S&P Global Composite PMI, Aug-final
• 9:45 AM ET S&P Global Services PMI, Aug-final
• 10:00 AM ET ISM Non-Manufacturing PMI for August…est. 54.2
• 10:30 AM ET                Weekly EIA Natural Gas Inventory Data

• Earnings After the Close: AMBA AOUT ASAN BBCP CURV DOCU EGAN GWRE IOT LULU MAMA NX OXM PATH PL SWBI ZS

• The bull-bear spread in the American Association of Individual Investors (AAII) weekly survey was 2.1% vs -11.5% last week. Bulls rise to 39.7% to from 32.9%, Neutrals rise to 22.7% from 22.6%, Bears fall to 37.6% to from 44.4%

• ChargePoint Holdings (CHPT) Q2 EPS ($1.35) vs est ($0.85) on revs $116.075Mm vs est $105.22Mm, gr mgn 36%; guides Q3 revs $105-115Mm vs est $109.29Mm.
• Costco Corp. (COST) August comparable sales U.S. up 9.0%, Canada up 4.0%, other int’l up 9.5%, total co up 8.4%; 16-Week 4Q sales of $93.9B, an increase of 11.3% compared to Net Sales of $84.4B y/y; net sales of $23.70B rose 9.9% y/y for the retail mo of Aug, the Four Weeks Ended Aug 30.
• Five Below (FIVE) Q2 adj EPS $1.68 vs est $1.39 on revs $1.26B vs est $1.22B; sees Q3 revs $1.21-1.23B vs est $1.145B and EPS $1.01-1.13 vs est $0.87; sees FY revs $5.63-5.71B vs est $5.544B and adj EPS $9.83-10.31 vs est $9.25; sees Q3 comps +8-10% and FY comps +10-12%.
• PVH Corp. (PVH) Q1 adj EPS $3.70 tops est. $3.08 and revs fell -3% y/y to $2.097B in-line with consensus; Q1 GAAP operating margin turned to a loss of 9.1%, including a $439M noncash goodwill impairment charge; Inventory slipped 3% to $1.74B; sees Q3 adj EPS $2.50-$2.65 vs. est. $2.99 and sees Q3 revenue down low-single digits y/y.
• Wayve and Uber (UBER) launch first-ever autonomous rides in the UK. British-built technology debuts on the Uber platform in London, marking the UK’s first Autonomous ride-hailing service

• Brady (BRC) Q4 adj EPS $1.48 vs $1.26 last year and Q4 revenue $436.8M vs $397.3M y/y; expects fiscal 2027 adjusted diluted EPS of $6.25 to $6.75; sees about $0.80 adjusted diluted EPS accretion from IPS, mostly in second half; expects IDS segment organic revenue growth of about 5% and IPS revenue of about $1.15B.
• Gold.com (GOLD) Q4 EPS $0.41 vs. est. $0.87, adj EBITDA $28.2Mm vs est $55.85Mm on revenue $5.005B vs. est. $5.67B, +99% YoY on acquisitions and gold prices; gross margin 2.2%; gross profit $110.3Mm; special dividend declared $1.00/share.
• Matrix Service (MTRX) Q4 adj EPS $0.16 vs. est. $0.20; Q4 revenue rose 13% y/y to $244.53M vs. est. $247.04M; Q4 Backlog at $953.2M, with $169M in new project awards including major mining project; said higher specialty storage activity drove increased revenue and gross margin in Storage and Terminal Solutions.
• Methode Electronics (MEI) Q1 adj EPS ($0.22) vs est ($0.20) on revs $265.4Mm vs est $237.98Mm.
• The Trump administration implemented tariffs of up to 100% on foreign drones as it seeks to hinder the Chinese drone industry and bolster domestic manufacturing, the New York Times’ reported, citing the administration. A 100% tariff impacts drones that weigh over 55 pounds or use thermal imaging, the vast majority of which are made in China, while smaller drones have a tariff of 25% (watch shares of drone makers AVAV, DPRO, ONDS, RCAT, UMAC).

• Samsung Life is seeking to acquire a 15% stake in Principal Financial (PFG) the Korea Economic Daily reports.

• Petco Health (WOOF) Q2 EPS $0.13 vs. est. $0.07; Q2 revs $1.5B in-line with consensus; sees Q3 revenue growth 0.4%-1.0% from $1.46B last year, vs. consensus $1.48B; still sees FY26 revenue flat to up 1.5% from $5.96B in 2025 and still sees 2026 Adjusted EBITDA $415M-$430M.
• Phreesia (PHR) Q2 EPS $0.03 missed the $0.09 estimate; Q2 revs $129.5M vs. est. $129.1M; guides year revs $510M-$520M vs. est. $515M and Fy adj Ebitda $125M-$135M vs. est. $129.5M.
• Ultragenyx (RARE) shares tumble after saying Angelman syndrome study did not meet primary endpoint. The study did not achieve the primary endpoint of change from baseline in Bayley-4 cognitive raw score nor the key secondary endpoint of net response in Multidomain Responder Index.

• Hewlett Packard Enterprises (HPE) Q3 adj EPS $1.11 vs est $0.93 on revs $12.21B vs est $11.912B; guides Q4 revs $13.9-14.8B vs est $12.963B and adj EPS $1.20-1.30 vs est $1.07; sees FY FCF at least $3.75B and FY27 FCF at least $5B; Raises FY26 revenue growth outlook range to 34% to 37% from 29%-33%.
• NetApp Inc. (NTAP) Q1 revenue more than doubled to $2.025B vs est. $1.838B and Q1 adj EPS $2.58 vs est. $2.12; sees Q2 adjusted EPS $2.54-$2.64, vs. consensus $2.16 and sees Q2 revenue $2.025B-$2.175B above consensus $1.85B; Gross margin edged down 0.3 percentage points to 70.1%, even as gross profit climbed 29.2% to $1.42B
• Netskope (NTSK) shares rose after guiding Q2 ARR at $899M, rising 27% y/y growth and quarterly revenue reached $221M, rising 29% y/y; net retention rate was 114%; remaining performance obligations rose 36% y/y; Non-GAAP gross margin was 77%, up 2 percentage points y/y; non-GAAP operating margin improved 11 points to -9%.
• Snowflake (SNOW) shares jump on results; Q2 adj EPS $0.62 vs est $0.45 on revs $1.55B vs est $1.482B; sees Q3 revs $1.588-1.593B vs est $1.57B; guides FY revs $6.07B vs est $6.093B
• C3Ai.com (AI) Q1 adj EPS loss (-$0.20) vs. est. loss (-$0.25); Q1 sales fell -25.4% y/y to $52.37M vs. est. $52.11M; posted positive free cash flow and narrowed non-GAAP operating loss; guides Q2 revs $51M-$55M and FY revs to $210M-$240M with non-GAAP operating loss of (-$123M-$155M).