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AI Dominance and the Fed’s Steady Hand · The SPY Trader

• 0:00
  Hello and a very warm welcome to all our listeners out there !
• 0:04
  You are tuned in to Spy Trader , your goto source for making sense of the markets .
• 0:08
  I am your host , Barnaby Buck$ , and I am so glad you could join me today .
• 0:14
  It is currently 2:30 pm on Thursday , September 3rd , 2026 , here in the Pacific time zone .
• 0:22
  We have a lot of exciting movement to talk about today as the market seems to be finding its footing after a bit of a bumpy start to the month .
• 0:30
  It is looking like a sea of green on our screens right now , so let's get right into the heart of the action .
• 0:36
  The major U.S.
• 0:37
  indices are seeing broadbased gains .
• 0:39
  The S&P 500 , which many of you track through the SPY or VOO ETFs , is trading up about 1.06 percent , reaching 7,747 .
• 0:52
  We are getting very close to those record highs we saw back in midAugust .
• 0:57
  The techheavy Nasdaq Composite , or the QQQ , is leading the way with a 1.40 percent gain to 26,584 , driven by some massive moves in artificial intelligence stocks .
• 1:11
  Even the Dow Jones Industrial Average is joining the party , climbing 1.18 percent to 53,689 .
• 1:20
  It is one of the best sessions for the Dow in a month as industrials and financials show some real muscle .
• 1:27
  Looking at the sectors , technology remains the absolute powerhouse .
• 1:32
  Nvidia , ticker NVDA , rose 1.8 percent today after announcing it is acquiring the opensource AI platform Hugging Face for 13 billion dollars .
• 1:42
  This is a huge move for AI infrastructure .
• 1:45
  Meanwhile , Snowflake , or SNOW , absolutely soared over 20 percent this morning after a blowout secondquarter report showed that demand for cloud and AI data is accelerating faster than expected .
• 1:59
  We also saw Ciena , ticker CIEN , report a 37 percent revenue jump , proving that the money being poured into AI networking is really starting to compound .
• 2:09
  In the financial world , the XLF ETF is showing strength as investors bet that interest rate hikes might be over for now .
• 2:17
  Robinhood , or HOOD , also saw some gains today thanks to analyst upgrades and a boost in retail trading activity .
• 2:25
  Now , why is all of this happening ?
• 2:28
  A lot of it comes down to a speech by Federal Reserve Governor Christopher Waller .
• 2:33
  He suggested that the Fed prefers to hold interest rates steady at 3.75 percent , as long as inflation keeps cooling down .
• 2:41
  This news sent the 10year Treasury yield falling to 4.75 percent , which is great news for highgrowth tech stocks and bond ETFs like TLT and AGG .
• 2:53
  However , we are still keeping an eye on the energy sector and geopolitics .
• 2:58
  The conflict between the U.S.
• 3:00
  and Iran is entering its sixth month , with tensions in the Strait of Hormuz causing some concern .
• 3:06
  While crude oil is relatively flat near 91 dollars a barrel , gold has jumped over 2 percent to about 4,490 dollars as a safety play .
• 3:16
  Looking ahead to tomorrow , everyone is waiting for the August jobs report .
• 3:21
  Economists are looking for about 65,000 jobs added and an unemployment rate of 4.2 percent .
• 3:28
  If that report is weak , it could confirm that the Fed will stay on pause when they meet on September 16th .
• 3:35
  Based on all this news , here are some things to consider for your portfolio .
• 3:40
  First , for core diversification , the Vanguard Total Stock Market ETF , or VTI , is a great way to capture this broad market growth while balancing out the volatility .
• 3:53
  If you are looking for tactical growth , the QQQ or the Technology Select Sector SPDR , known as XLK , are the places to be to capture the upside from Nvidia's big acquisition and the AI boom we are seeing in stocks like Snowflake .
• 4:09
  For those looking for defensive income , the iShares 20 plus Year Treasury Bond ETF , or TLT , could be a smart move if yields continue to retreat after Waller's comments .
• 4:22
  Finally , to protect yourself against those geopolitical risks in the Middle East , consider a small allocation in SPDR Gold Shares , or GLD .
• 4:32
  Gold is a classic flighttosafety asset when things get a bit uncertain globally .
• 4:37
  That is all for this afternoon's update .
• 4:40
  I am Barnaby Buck$ , and this has been Spy Trader .
• 4:44
  Remember to stay informed and stay balanced .
• 4:47
  I will talk to you again in a few hours !