The Dow Jones Industrial Average (^DJI) was up 622.10 (1.17%) points today, reaching 53,684.05, while Dow Futures (YM=F) was up 631.00 (1.19%) points to 53,752.00. The primary narrative driving the market this Thursday, September 3, 2026, is a better-than-expected ISM Manufacturing Index report, which signaled robust industrial expansion and eased lingering fears of a late-year economic slowdown. This positive economic data triggered a rotation into industrial and technology heavyweights, overshadowing concerns regarding persistent high-interest rates.
Leading the blue-chip index higher, 3M (MMM) was up 3.70% to $148.62 following a favorable analyst upgrade linked to its streamlined operations. Semiconductor giant Nvidia (NVDA) was up 1.77% to $225.01, benefiting from renewed capital expenditure commitments in the AI sector. Other notable gainers included Johnson & Johnson (JNJ), which was up 1.61% to $227.63, and Cisco Systems (CSCO), which was up 1.33% to $100.48, as investors favored established value plays amid the broader market rally.
Conversely, several components faced downward pressure despite the index's overall gain. IBM (IBM) was down 2.42% to $213.40, serving as the day's steepest decliner following a cautious guidance update. Consumer-facing stocks also struggled, with Home Depot (HD) down 2.14% to $303.85 and Salesforce (CRM) down 1.64% to $168.45. Financial laggards included American Express (AXP), which was down 1.27% to $310.29, and JPMorgan Chase (JPM), which was down 1.12% to $301.51, as the yield curve's reaction to the manufacturing data weighed on banking margins.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.