Wall Street Rebounds on AI Demand; Oil Hits 5-Week High

US stocks rebounded Wednesday as the S&P 500 rose 0.5% to 7,666.60, the Dow gained 0.6% to 53,061.95 and the Nasdaq added 0.5% to 26,217.83, led by Dell's 16% surge on record AI server orders and Nvidia's 3.2% gain. ADP showed private payrolls rose just 38,000 in August, missing forecasts, while oil hit a five-week high on renewed US-Iran fighting. Société Générale forecast three Fed rate hikes through March 2027, and Alphabet gained momentum with Gemini 3.8 Flash and an antitrust win.

Written by AI from the sources it cites; it can be wrong — follow any citation to confirm.

13 sources2 min read

Wall Street Rebounds as Tech Gains Offset Oil and Rate Worries The S&P 500 rose 0.5% to 7,666.60, the Dow gained 0.6% to 53,061.95 and the Nasdaq added 0.5% to 26,217.83. Dell jumped 15.8% to $492.20 on record AI server orders, while Nvidia climbed 3.2% and Reddit rose 9.3%. 1 2 3 4 5 6

Oil Hits Five-Week High as US-Iran Strikes Reignite Hormuz Fears WTI settled 0.9% higher at $91.01 and Brent gained 1% to $95.63 after fresh US strikes on Iran and Iranian attacks on Jordan, Bahrain and Kuwait revived supply disruption fears. Crude is roughly 30% above pre-war levels from late February. 7

ADP Shows 38,000 Private Jobs Added in August, Missing Forecasts Private payrolls rose by 38,000 in August, below the 47,000 expected and the smallest gain since January, with education and health services leading and manufacturing down 17,000. The report precedes Friday's BLS nonfarm payrolls. 8 9

SocGen Sees Three Fed Rate Hikes Through March 2027 Société Générale's chief US economist expects 25-basis-point hikes in September, December and March, citing persistent services inflation and oil and tariff shocks. Markets price a 64% chance of a September hike, though Morgan Stanley and JPMorgan are skeptical. 10

Google Launches Gemini 3.8 Flash and Wins Antitrust Ruling Alphabet started September with AI momentum, launching Gemini 3.8 Flash and a cybersecurity model, while a federal judge rejected the DOJ's push to force a sale of Google's ad exchange. The news follows Google's longest monthly losing streak since 2015. 11

Marvell Raises Outlook but Shares Slide 8% on Google Deal Marvell beat and raised guidance, lifting its CY26 revenue outlook to $12 billion and CY27 to $18 billion, yet shares fell more than 8% after its expanded Google partnership spooked investors. Oppenheimer raised its price target to $325. 12

S&P 500 Q3 Earnings and Revenue Growth Expected to Surge A Yahoo Finance preview says analysts expect a sharp acceleration in S&P 500 earnings and revenue growth in the third quarter. The upbeat outlook comes as AI-driven demand supports corporate margins. 13