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The Daily Briefing · Friday, September 4, 2026
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CRCL Surges 16% on GENIUS Act Stablecoin Moment
Circle President Heath Tarbert testified Sept. 2 before the House Financial Services Committee, urging Congress to implement the GENIUS Act and pass the broader CLARITY Act.
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Also today
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Nvidia Acquires Hugging Face for $2.93B
Nvidia agreed to acquire Hugging Face for $2.93B, its second, largest deal ever, gaining control of a platform hosting over 800,000 AI models and 200,000 datasets.
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Netherlands Repatriates 86 Tons of Gold to U.K. Vaults
De Nederlandsche Bank moved 86 metric tons of gold from Federal Reserve Bank of New York and Canadian vaults to the Bank of England between March and August 2026.
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August Jobs Report Hangs Over Fed Rate Decision
Consensus puts August payrolls at 53,000, following July's, 23,000 job loss and deep downward revisions to May and June data
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Ultragenyx RARE Crashes 47% on Angelman Trial Wipeout
Apazunersen (GTX, 102) showed zero separation from placebo on the primary Bayley, 4 cognitive endpoint and all five components of the secondary Multidomain Responder Index.
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Vance Calls Fed Interest Rates 'Monetary Malpractice'
Vance labeled the Federal Reserve's refusal to lower interest rates "monetary malpractice," citing rising housing costs as the central economic harm.
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Zscaler ZS Rockets 51% as AI Security Demand Returns
Zscaler posted Q4 adjusted EPS of $1.19 vs. $1.09 expected and revenue of $898M vs. $877M estimated, up 25% year, over, year.
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More headlines
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Meta Surges 8% on Muse Spark 1.3 AI Drop
META shares climbed 8% on heavy volume after the surprise Muse Spark 1.3 release, the stock's largest single, session gain in months.
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Iran Strikes Kuwait as Brent Crude Hits $106
Iran launched ballistic missiles and armed drones at Kuwait Thursday, the first direct strike on a Gulf Cooperation Council member in the current conflict
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Dell Q2 FY2027: AI Servers Double, EPS Crushes Estimates
Dell AI server revenue doubled year, over, year to $16.4B in Q2 FY2027, with record AI order bookings of $60.9B and a $95B backlog.
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U.S. Trade Gap Hits $88.6B, Fed Faces Stagflation Bind
The July trade deficit widened $17.4 billion to $88.6B, a 24.4% monthly surge and the largest reading since early 2025.
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Oracle Options Price Record 13% Swing for Sept. 10
Oracle (ORCL) options embed a 13% implied move for the September 10 earnings report, the largest implied swing in the company's quarterly history.
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Marvell Technology Stock Falls 10% on Google Delay
MRVL posted Q2 FY2027 revenue of $2.74 billion, up 37% year, over, year, with non, GAAP EPS of $0.94, beating Wall Street estimates on both metrics.
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Adobe Names Chakravarthy CEO as ADBE Drops 3%
Anil Chakravarthy, president of Adobe's Customer Experience Orchestration unit, succeeds Shantanu Narayen effective December 1, 2026.
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AVGO Q3: AI Chip Revenue +221%, Guidance Trips Shares
Broadcom Q3 total revenue of $9.6 billion rose 86% year over year, with semiconductor revenue reaching $6.7 billion.
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Snowflake SNOW Surges 23% on Q2 FY2027 AI Earnings
Snowflake Q2 FY2027 revenue of $1.55B grew 35% year, over, year, well ahead of the $1.43B Wall Street consensus estimate
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ISM Services 55.4 Beat Revives Soft, Landing Thesis
August ISM Services PMI came in at 55.4, beating consensus by 1.1 points and extending the expansion run to 26 consecutive months.
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LULU Slides 15% on Q2 Miss and Social Media Drag
Q2 revenue declined 4% year, over, year to $2.4B, missing the $2.46B Wall Street consensus by roughly $60 million
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Tyson Foods Cuts Outlook as Cattle Crisis Deepens
TSN fell more than 7% after Tyson Foods dramatically widened its beef segment loss outlook for fiscal 2026.
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Bitcoin Bounces to $81K on Waller Rate, Hold Signal
Bitcoin surged 4.78% toward $81,000 on September 3 as Fed Governor Waller's rate, hold signal collapsed the U.S. Dollar Index below 99, sparking a broad crypto market rally.
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Ternus Signals Landmark Apple Launch in First CEO Memo
Ternus sent his first all, staff memo September 1, his inaugural day as CEO, calling Apple's September 9 event "huge" and "phenomenal."
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Zscaler Q4 FY2026: Guidance Erases May Crash Shadow
Q4 revenue of $719.2 million rose 21% year, over, year; remaining performance obligations surged 30% to $6.5 billion, signaling durable forward demand.
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Waller Backs Rate Hold, 2, Year Yield Falls to 4.30%
Fed Governor Christopher Waller said he would support holding interest rates steady at the September 15, 16 FOMC meeting if August CPI data does not show a fresh inflation acceleration.
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From the startup desk
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Video of the day
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The Three Fundamental Drivers
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The Daily Briefing from Pomegra. Market news, educational content only. Nothing here is investment advice.
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