Stocks Up After Fed Official Says He Could Back Rate Hold

0:00Today's customer experience isn't built one AI tool at a time. It's about billions of interactions seamlessly orchestrated. Knights, Unites, Agent-A-Gai, Human Agents, and Customer Intelligence for truly modern CX-at-Enterprise scale. Learn more at nice.com. Here's your closing note brief for Thursday, September 3. I'm Alexis Moore for The Wall Street Journal. Stocks climbed today after Fed Governor Chris Waller said he would support holding interest rates steady if August inflation data supports it. As a result, the SMB 500 gained 1%, the NASDAQ added 1.4%, and the Dow was up 1.2%. Treasury yield slipped as traders decreased their expectations if the Fed will hike rates this month. The 10-year yield ended the day at 4.76%. Among individual companies, shares of Braw Retail or Victorious Secret were down around 13% today. The company boosted its full-year outlook in its earnings report,

1:00but reported second quarter sales below Wall Street estimates. Cloud Storage Company Snowflake reported better than expected results, citing growing adoption of its AI products. Its stock surge 16.5%. Shares of Chipmaker Broadcom slipped 2.7%, despite the company forecasting growing demand for its custom chips over the next two years. And Campbell Stock dropped 7% today after reported declining sales and slashed its quarterly dividend. The company also said that it has cut 13% of its workforce as part of a cost savings program to turn around struggling operations. Heads up, an artificial intelligence tool helped us make this episode by creating summaries that were based on Wall Street Journal reporting and then reviewed and adapted by an editor. We'll have more coverage of the day's news on the Wall Street Journal's What's News podcast. Listen and subscribe wherever you get your podcasts.