Broadcom, Snowflake, the Federal Reserve and Costco headline a packed September 2 market calendar.
September 2, 2026
Wednesday is shaping up to be one of the more consequential sessions of the week for Wall Street, with investors facing a packed calendar that stretches from economic data and Federal Reserve commentary to major technology earnings and a closely watched sales update from Costco.
The September 2 lineup includes earnings from Broadcom, Snowflake, Hewlett Packard Enterprise, Five Below and Brown-Forman. Meanwhile, the Federal Reserve will publish its latest Beige Book at 2 p.m. ET, Amphenol is moving ahead with its two-for-one stock split, and Costco is expected to release its August sales results after the closing bell.
For investors trying to gauge where markets go next, Wednesday could offer fresh signals on three of the biggest forces shaping the economy: artificial intelligence spending, consumer demand and the Federal Reserve.
Broadcom Earnings Put AI Spending Back in the Spotlight
Broadcom may command the most attention.
The semiconductor and infrastructure software giant is scheduled to report fiscal third-quarter results after Wednesday’s market close. Wall Street expectations are elevated, particularly around the company’s exposure to the continuing buildout of artificial intelligence infrastructure.
Consensus estimates cited by Kiplinger call for approximately $29.4 billion in quarterly revenue and adjusted earnings of about $3.24 per share. That would represent enormous year-over-year growth and reinforce Broadcom’s position as one of the major beneficiaries of the AI infrastructure boom.
But strong numbers alone may not satisfy investors.
Broadcom shares have faced pressure since their earlier highs, meaning attention could quickly shift toward management’s outlook for AI semiconductor revenue, custom accelerators, networking demand and VMware-related software growth.
The larger question is whether the extraordinary level of spending on AI infrastructure can continue translating into accelerating revenue for the companies supplying the hardware behind it.
Snowflake Has Its Own AI Test
Snowflake will also report after Wednesday’s closing bell.
The company confirmed that it will release fiscal second-quarter 2027 results on September 2, followed by its earnings call at 5 p.m. ET.
Analysts have been watching Snowflake’s evolution from a cloud data platform into a broader AI-focused enterprise ecosystem. With companies pouring money into AI models, agents and data infrastructure, Snowflake sits at an important intersection between corporate data and artificial intelligence.
Expectations are significant. MarketBeat reports analysts are looking for roughly $1.48 billion in quarterly revenue, while options markets have been pricing the possibility of a sizable post-earnings stock move.
Investors will likely focus on product revenue growth, customer spending, remaining performance obligations and management’s outlook for AI-related demand.
Hewlett Packard Enterprise, Five Below and Brown-Forman Also Report
Broadcom and Snowflake aren’t alone.
Hewlett Packard Enterprise joins Wednesday’s technology earnings lineup, giving Wall Street another look at corporate infrastructure and AI-related spending. Five Below provides a very different economic signal: the health of the value-conscious American consumer.
Brown-Forman, the spirits company behind brands including Jack Daniel’s, also reports Wednesday. Together, the reports create a broader snapshot of spending across technology, retail and consumer products.
That matters as investors try to determine whether economic growth remains resilient despite persistent inflation concerns and uncertainty surrounding interest rates.
The Federal Reserve Beige Book Arrives at 2 P.M.
At 2 p.m. ET, attention will shift temporarily away from corporate earnings and toward Washington.
The Federal Reserve is scheduled to release its latest Beige Book, the central bank’s collection of anecdotal information about economic conditions across its 12 Federal Reserve districts.
The report isn’t an interest-rate decision, but traders watch it closely for evidence of changing business activity, hiring conditions, wage pressure, consumer spending and inflation.
Those clues take on added importance ahead of the Fed’s September policy meeting.
Markets are already debating the direction of monetary policy as policymakers balance inflation risks against the strength of the broader economy. Wednesday’s Beige Book could add another piece to that puzzle.
Amphenol’s Two-for-One Stock Split Takes Effect
Amphenol investors also have a corporate action to watch Wednesday.
The electronics and connectivity company previously announced a two-for-one stock split, with shareholders of record as of August 17 receiving an additional share for every share they owned.
The company said those additional shares are expected to be distributed September 2.
The split doesn’t fundamentally change Amphenol’s valuation or an investor’s proportional ownership. It simply doubles the number of shares while adjusting the share price accordingly.
Still, stock splits can attract investor attention by making individual shares appear more accessible.
Costco’s August Sales Could Reveal How Consumers Are Holding Up
Then comes Costco.
The warehouse giant’s monthly sales updates have become useful snapshots of consumer behavior because Costco reaches millions of households across income levels and sells everything from groceries and gasoline to electronics, furniture and discretionary merchandise.
Its August sales update therefore has implications beyond Costco itself.
Investors will be watching comparable-store sales, e-commerce activity and consumer spending patterns for evidence that American households remain willing to spend despite inflation and elevated borrowing costs.
Costco’s numbers could also provide another clue about the strength of retail heading toward the crucial final months of 2026.
Wednesday’s Market Checklist
The major events investors will be watching include:
- Throughout the day: Amphenol’s two-for-one stock split distribution
- 2 p.m. ET: Federal Reserve Beige Book
- Earnings: Broadcom, Snowflake, Hewlett Packard Enterprise, Five Below, Brown-Forman and others
- After the market close: Costco’s August sales update
Why September 2 Matters
No single report Wednesday will determine where the market goes next.
Together, however, they tell an important story.
Broadcom and Snowflake will test Wall Street’s enormous expectations surrounding artificial intelligence. Hewlett Packard Enterprise will provide another window into enterprise technology spending. Five Below and Costco can reveal more about the American consumer. And the Federal Reserve’s Beige Book will offer a ground-level assessment of the economy just as investors focus intensely on the Fed’s next move.
That combination makes September 2 more than another earnings day.
It is a technology, consumer and Federal Reserve checkpoint rolled into one trading session — and what investors learn Wednesday could help shape market expectations heading deeper into September.
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