US stocks weekly: AI refuel

NIKE

28/08/2026 21:40

** S&P 500 .SPX gains 0.5% with all eyes glued to AI bellwether Nvidia and Jackson Hole .N
** Dow .DJI up 0.5%, Nasdaq Composite .IXIC advances 0.8%
** S&P 500 bulls focus on key support zone ahead of catalyst-heavy week; benchmark index holds, turns higher 
** And Nvidia sparks Nasdaq; tech-heavy index also turns higher
** U.S. 10-Year Treasury yield US10YT=RR ticks down on week to 4.73% area: Fed Chair Warsh says central bank will "have work to do" if above-target inflation persists US/
Treasury yield bulls still hold the upper hand
** In the end, a minority of sectors accelerate: Technology peels out, while Energy and Healthcare stall 
** Tech .SPLRCT rallies 1.8%. Chip giant Nvidia NVDA.O surges on Thurs as 70% sales growth forecast for next fiscal year underscores unabated demand for AI computing
Still, Semiconductor index .SOX skids >2%
Software provider Salesforce CRM.N leaps on raised outlook, expanded AI partnership with Anthropic
CrowdStrike CRWD.O jumps, sparks rally across cybersecurity stocks after upbeat rev forecast
iShares Software ETF IGV.P soars nearly 6%
** Communication Services .SPLRCL up 1.6%. Facebook/Instagram parent Meta META.O rises after reaching $18 bln settlement with US states over children's social media addiction
** Financials .SPSY up 1.1%. But PayPal PYPL.O tumbles after report Advent-Stripe consortium drops takeover pursuit
** Consumer Discretionary .SPLRCD ekes out 0.1% gain. Nike NKE.N and Lululemon LULU.O slide after sneaker/sportswear retailer Dick's Sporting Goods DKS.N plunges on annual forecast cut 
** Materials .SPLRCM off 0.4%. That said, a grain breakout may be taking root
** Energy .SPNY retreats 2%. Sector falls along with oil prices as Iran-Oman talks revive hopes of Hormuz reopening O/R
** Healthcare .SPXHC down 2%. Moderna MRNA.O falls after unveiling convertible bond sale, ultimately raises $2.6 bln
** Meanwhile, AAII survey shows investor gloom deepening
** SPX performance YTD:
     
Energy
38.5%
Tech
22.1%
Materials
16.5%
Industrials
14.0%
SPX
12.7%
Real Estate
11.0%
Healthcare
10.3%
Staples
8.3%
Financials
5.9%
Comm Svcs
1.3%
Discretionary
0.3%
Utils
-0.4%
     

(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)
((lance.tupper@tr.com ; terence.gabriel@tr.com))